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

To: Don Pueblo who wrote (18250)	4/16/1999 12:59:00 PM
From: Ben Antanaitis	Read Replies (1) \| Respond to of 34817

Iceberg, TLC, Let me wade into this little stewpot you both are swimming in just now. TLC: The month indicators and year marks that appear in point and figure charts are there for convenience and giving a 'time frame' reference only. They have nothing to do with the art and science of p&f pattern analysis or chart construction. You can perform all the pattern analysis and come up with the same buy/sell/hold indications if a chart has nothing but X's and O's on it. Iceberg: A p&f chart with the 'convenience' month/year indicators on it has potentially large value-added information presented. If the p&f chart analyst can see a chart pattern that repeats or cycles over some time period or at the same time during each year, then there is additional information that can be factored into the buy/sell/hold decision, especially if a familiar/repeated pattern is developing but not yet formed. A chart pattern can 'stall' and the bare-bones p&f chart gives no indication of when it may end. However, if there are cyclic patterns that have had a 'fixed' time to develop repeatedly over history, then by looking at the calendar and the chart, the investor might have an idea of when the next move may occur. Ben A. (30 years of P&F experience, I own and have read almost all the P&F books available)