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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: wizzards wine who wrote (8997)	10/23/1998 5:40:00 PM
From: FishbackJ	Read Replies (1) \| Respond to of 34809

Hi again Preston, I agree with you about trendline violation alerts...they'd be very handy with P&F. I first read Tom's book about 2 years ago, and was very enthused about a non-subjective T/a approach to support and resistance. Unfortunately, I was mostly interested in high-pe-high-everything tech stocks at the time, and while P&F works great on all stocks, the problem with "buying pullbacks" on something like Yahoo (recently) is that it hits the pullback price for about .00000003 seconds, then you can buy it about 4 points higher IF you see it in time, and IF you have the nerve to chase it. So now I have a real time (real tick III) setup that allows you to put in real time alerts.....it's not too expensive if you trade very much, but it's really meant for soes traders, and the routing options on fast moving stocks paradoxically aren't as certain to get you filled as a regular broker like Fido....but I digress.... You might try a real-time solution like this.....Fortunately P&F doesn't "travel" on a trend line that fast, and real time alerts can get you in on the day of the breakout (or pullback), instead of the next. Another thing.....if you look at stocks as "trading vehicles" rather than falling in love with them (except of course --CISCO-- hehe)it's a lot easier to follow a fixed universe of 2 or 3 hundred of them, and know something about each. Aloha, Dick