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

To: Ditchdigger who wrote (18280)	4/16/1999 5:38:00 PM
From: Don Pueblo	Read Replies (3) \| Respond to of 34817

That is the question, why is time relevant? If you want me to answer that from a P&F viewpoint, I ain't the guy yet. Give me another couple of days. <ggg> The point I was trying to make was not the relevance or non-relevance of time in a P&F chart. I was responding to this statement: That's one of the problems I have with PnF. Like it's not totally grounded in reality. Any system that ignores time can't be all-inclusive, and therefore, must have serious limits. #reply-8951359 I'm certainly not trying to give new definitions to a charting method that I just started studying. I'm not interested in trying to "change" anyone's viewpoint about anything. I'm not qualified to discuss Point and Figure Charting. I don't see this as a 'black and white' issue; that time is either relevant or it is not relevant. I believe that it is quite obvious that time is relevant to any chart, for the simple reason that you cannot draw any chart, any kind of chart, without using time as one of the contributing factors. The question is not "Is time relevant?", the question is, "What degree of relevance does past time have in making a judgement about the future activity of the chart?" Point and Figure says that if stock XYZ forms a 3 year base and trades within a one dollar range for that entire time, never moving above 26 15/16 or below 26, I make one mark on my chart. Other methods of charting would show a long flat base, and some methods of charting would use that long flat base as a signal. CAMP is a great example of this, by the way. Why is it important? For one simple reason: lots of people look at the bar chart. If those people all see a signal at the same time, that stock is going to make a move. Another example: I have had excellent success in day trading using a proprietary method (I thought it up, heh heh) that only works at certain times. Time is the primary filter on this technique; if the time is wrong, that's it, I don't bother looking any further. What I am interested in, and excited about, as far as P&F goes, is not just the fantastic new (to me) material in the book, but the possibility that P&F may hold the clue to unraveling the mysterious parts of what I already partially understand. I think the potential is great, but as I said, I'm a newbie.