Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Perry Ganz who wrote (18337)	4/18/1999 11:07:00 AM
From: Ms. X	Read Replies (1) \| Respond to of 34811

Welcome Perry! QCOM chart. Friday QCOM reversed up nicely but then closed at a lower price from the high. However, if you look, the low is higher then what the low was on Thursday. If on Monday QCOM doesn't move any lower, the chart will remain in X's. QCOM has support until 140. A break of 140 would be a negative sign. QCOM sold off with the rest of the techs but looks strong. Good entry into QCOM in the 40's with a stop of 138 for a trade. No price objective yet. 178 176 X 174 X O 172 X O 170 --------X O ------------- 168 X O 166 X O 164 X O 162 X O X <--Reversal up on Friday. 160 --------X O X ----------- 158 X O X 156 X O X 154 X X O X 152 X O X X O X 150 X O X O X O X ----------- 148 X O X O X O X 146 X O X O X O X 144 X O X O O X 142 X O X O X <--Friday's pullback after high and close price 140 X O X ----O ---<--Low on Thursday. 138 X O X

To: Perry Ganz who wrote (18337)	4/18/1999 11:23:00 AM
From: Iceberg	Read Replies (2) \| Respond to of 34811

>any pitfalls on P & F for a beginner to worry about? Perry, Yes. Maintain a healthy skepticism about the efficacy of PnF; especially maintain a skeptical approach as it relates - or does not relate - to TIME. Time being, your time horizon vis 'a vis a stock, vis 'a vis any particular PnF chart. PnF charts primarily and fundamentally plot supply vs. demand as reflected by stock price action. Be exteremely careful about injecting any timing aspects into PnF chart interpreations. Ice

To: Perry Ganz who wrote (18337)	4/18/1999 7:42:00 PM
From: Jerry Olson	Respond to of 34811

Hi Perry well good for you....welcome to the nicest group of smart people i know...you'll enjoy the comraderie right here.. are their pitfalls to P&F???...of course there are...just like every other TA analysis...can it be right all the time, no it can't... but Perry, we here play "Football"...if you picture a playing field 100 yards wide with the 50 right where it should be in the middle, and each end zone the 30% & 70% Goal lines....you can picture, in this middle, is a vast area to play ball in, right??? that's what we here do, we play the middle of the field...please read the book cover to cover...you'll quickly see what i'm talking about... Perry, nothing is perfect, everything is for someones "interpretation"....the difference here is there are PRO's reading these charts to help us, make the right buying/selling decision on our stocks... remember not only do we pick stocks, but we also pick "sectors" those stocks live in...and yet again, we need correct "Market direction" going our way for trades... there are many, many factors to help trade the markets, P&F is for me, the best TA money can buy..i have completely eliminated all other TA...i do use QCharts Real Time, for swing trades and position trades, in conjunction with P&F... it's be the most rewarding combo ever in my trading life... so are there pitfalls?, hell yes!!...just learn the craft, and trade the plan...you'll do just fine... good luck to you...