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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (16958)	3/1/1999 7:09:00 AM
From: Patrick Slevin	Read Replies (3) \| Respond to of 44573

Brokers rarely know much about P&F; it was a tool developed by traders on the floor. One guy, who was a CBOE MM, has enough computer hardware to choke an elephant. Yet he still sits there with a scratch pad marking X's and O's while he trades. The average broker is a sales(wo)man, and usually is confined to certain fundamental analysis. It would most likely be a violation of an ethic for a broker to reco an issue based on Point and Figure.

To: donald sew who wrote (16958)	3/1/1999 8:54:00 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 44573

Morning Don First most of the investing public have become a bit more sophisticated because of the Internet and TV...they still are not true indicators of sentiment...and here's why... they have a buy and hold mentality..smarter than we are<g>...they will not sell, they're in it for "the long haul"...that's why i feel the downside risk is minimal, and at best another "buying opportunity"... as for brokers they know ZERO-ZIP-NADA...less than nothing...they're right now screaming about slowing sales of PC this Q...No Kidding!!! WOW what a revelation...they're talking about higher interest rates!!! gee whiz, isn't that something...happens almost on cue each Feb/Mar... anyway Don, the wrong way crowd has been WRONG 100% of the time...it's so funny it hurts...i could care less what the gurus, the public have to say about market direction... as for P&F...i exclusively use it now, along with 2-3 mva's...that;s it!!! BTW P&F is in every major Brokerage House on Wall street...it' s called the PRO Package...they got it...but the troops DON"T!... Don right now, all indicators are negative and on sell signals...i'm cautious till they reverse up...they're headed DOWN!!! yes we could get a rally, maybe to new highs, but i'll be scalping, flipping, hit and run stuff only..no heavy investing untill we crash/or change direction...as for the bottom??? 8650 would be my guess at some point in the next 30-60 days or so... and Donald, maybe we go straight up to 10K...wouldn't surprise me..i'll just "follow" my indicators, not guess, and not lead... my regards, nice to see you here....