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

To: Ms. X who wrote (13448)	2/2/1999 8:37:00 PM
From: Challo Jeregy	Read Replies (1) \| Respond to of 34811

Thanks Jan for posting that data. Very enlightening. BTW, re AG's briefcase - it was new. Maybe he has hidden pockets inside in order to thwart CNBC's indicator <g>. Appreciate all you do for us. Challo

To: Ms. X who wrote (13448)	2/2/1999 10:23:00 PM
From: Gwolf	Read Replies (2) \| Respond to of 34811

Speaking of excellent research at DWA I thought I would bring something that I feel is important to everyone's attention. My primary focus is on the L.T. trends so I wanted to see where the BSL's would be on my stocks, so I ordered Chartcrafts Long Term Chartbook. Much to my surprise the DWA expanded charts and the Chartcraft L.T. charts where miles apart on BSL's and Chartcraft had many more columns of X's and O's than did DWA. I have access to historical and split adjusted prices quotes from Bridge, Bloomberg,Quotron and ILX. Last Friday afternoon I took 16 stocks and decided to go back to 1990 and compare the quotations from these 4 services to the DWA and Chartcraft charts. I spent all weekend ( my wife almost shot me ) last night and tonight comparing the prices. I did not find and discrepancies among the quote services, but I did with the charts. Unfortunately I have to tell you that Chartcraft has some kind of a flaw in their computers that are off by sometimes as much as 2 full points. There computers also must round up on any split adjusted price that is above .90 to the nearest whole number and round down to the nearest whole number on any number below .10. As a result they register extra columns of X's and O's that by the strict adherence of waiting to the whole number is reached is incorrect. What these flaws do is give you support and resistance lines that do not accurately show true support and resistance. DWA on the other hand only one flaw in one stock that I studied and it rounded up on a price of .956. DWA's support and resistance lines actually saw the stock come to those lines whereas stocks on Chartcraft seemed to stop away from the lines because they where way off. If you are just playing each little buy and sell signal this may not be any big deal, but if you are looking for true support and resistance I found it to in fact be a very big deal. The rounding on Chartcraft did if fact create bull and bear traps due to the rounding that in fact didn't occur on DWA's charts. I am posting this, not to offend anyone at Chartcraft or anyone that uses their charts, but as a point of education. I am returning my Chartcraft charts along with documentation from the 4 sources to help them, if they are interested. If anyone using Chartcraft charts has any other information that I should know let me have it, I'm all ears. Gwolf