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

To: Don Pueblo who wrote (14607)	2/24/1999 9:05:00 AM
From: Challo Jeregy	Read Replies (1) \| Respond to of 34816

OK TLC. OT I'll look for the Class A,B,C signs and let you know when I find it. Cluck, cluck <gg>

To: Don Pueblo who wrote (14607)	2/24/1999 9:48:00 AM
From: Don Pueblo	Respond to of 34816

I just checked, and that link I provided did not reproduce the RSI. (This is not off-topic IMHO, as I refer to more than one TA indicator all the time. I am learning P&F right now, but I wanted to offer some data on things I already understand.) I want to learn P&F because I've noticed some really excellent calls by some P&F people that validated some other filters I use; and also invalidated some signals I got that turned out to be wrong. I've studied MAs and found them useless, with the sole exception of sentiment on the 50 and 200 day MAs which are used by guys that run funds and boneheads like Bob Pisani. I studied stochastic for several years, it was helpful, but then I discovered that RSI was more accurate for me. It was while I was studying stochastic that I chanced upon this "camel hump" signal that I use. I studied Elliott wave, found it helpful, but could never find someone who could figure it out without some sort of voodoo. At one point about 2 years ago, I got so complex that I was looking at 5 different filters to "pre-screen" long term picks, before I did the fundamental analysis! It got nutty. Now I rely on trendline analysis that I found in a book by Thomas R. DeMark, called "New Science of Technical Analysis" and the RSI oscillator. Both very simple, easy to understand, and quite helpful. Interestingly, since I started day trading about a year ago, I have discovered some very, very interesting patterns that tend to occur short term. I first noticed these patterns when I got smacked over and over on a short term trade, and tried to figure out what happened. My idea was: if I had 100 million to play with, what would I do to take money away from the small time day traders, no matter which way the small time guys wanted to go. You have seen it I am sure, you buy a stock, and it instantly goes south. It gets down to the point where you can't take any more loss, and you sell. Then the stock immediately goes back up. I figured that somebody with more money that me was reading my mind! (They weren't, they were just taking my money.) I came up with a theory, and started refining it. I'm at the point now where I can apply it quite successfully. I use it for entry points on short term trades, for the simple reason that if it goes the wrong way, I can tell instantly, and get out without getting a bloody nose. Unfortunately for everyone else, I won't share it, because if everyone else starts seeing it, it won't work anymore. But from what I am learning about P&F, it appears that P&F has some of the same underlying theory, so it may be that you guys already have a better idea than I do...