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

To: Ben Antanaitis who wrote (18257)	4/16/1999 2:12:00 PM
From: Iceberg	Read Replies (3) \| Respond to of 34817

>It is interesting to note that Davis presents us with not only the odds on a pattern being profitable, but also how long it took, on average to reach that profitability level in both bear and bull markets. This gives us yet another 'connection' between time and p&f patterns. The pattern still tells you buy/sell/hold, but if you have a time reference you can get a feel for how your particular investment is doing re the 'average'. Ben, Yes, the landmark Davis study is much quoted. One problem with it, IMO, is that the data is presented in the aggregate. That tells you nothing about how any particular security will perform. But as you said, it can serve as a "feel" for how one's particular investment is doing vis 'a vis the "average". I'm of the opinion that much more PnF research needs to be conducted. Especially in view of [and as you indicated] time frames of hours in today's electronic trading environment. I've been experimenting with intraday PnF charts, real-time, using Trade Station, a program provided by Omega Research. It is fascinating to me to watch the charts I've constructed...using, for example, 1/4-point x 3 boxes, or even 1/8-point x 3 boxes on an intraday basis. To my knowledge, there is no existing study, similar to the Davis study you mentioned, available for real-time intraday electronic day-trading using PnF. Or maybe I've missed it. If you happen to have any thoughts/comments on intraday PnF charting, please post a few words. Again, thanks. Ice