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

To: ViperChick Secret Agent 006.9 who wrote (14034)	2/16/1999 11:17:00 AM
From: Jorj X Mckie	Read Replies (2) \| Respond to of 34809

VC, I need some help Yes I know. EGRP would have reversed on Friday except for the fact that at one point it hit $49 and therefore it pegged another X in the column. If EGRP hits $46 today, it will reverse to a column of Os. The logic in building the chart. -If in a column of Xs, did the stock move up one box? If yes, place X -If no, did stock price reach a point 3 boxes below highest X? If yes, place O. -If "no" to both, do nothing. -If "yes" to both, only mark the box in the column that the chart is already in. (can only show activity in one column per day) Tom

To: ViperChick Secret Agent 006.9 who wrote (14034)	2/16/1999 1:20:00 PM
From: Dennis J.	Respond to of 34809

V.C. Even more help. Consider Tom's example, where the stock makes a new high and then closes even lower, say at 45. A 4-point reversal into a column of O's would be lost forever if the stock opened tomorrow at 46 or higher, and did not print a 45 again. Since it happened, you may want to use that information someday. So, some who plot their own charts may choose to record that info as a column of O's. Or, as the stock opens at 46, should we think of it as still being in X's, when it just had a 4-point move down, or actually in O's. Just something else to think about. I understand some commodity traders record all reversals, even intraday on their end-of-day charts, and may also plot intraday p&f charts in 1- or 5- min. intervals. Dennis