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

To: Perry Ganz who wrote (18361)	4/18/1999 2:59:00 PM
From: Iceberg	Respond to of 34811

>I have been at this (trading & investing) long enough to be skeptical of just about everything. Perry, Good. Now, let's assume, for the sake of argument, that you or I know everything known to mankind about PnF. What are the odds of converting that information, if we had it, into making money in the market? Would the odds be anything greater than 50/50 for any particular stocks we might pick? I doubt it. There are no studies to show the efficacy of PnF relative to individual stock picks. So why bother with PnF at all? Might as well flip a coin, or throw darts. It could save some time and effort. Ice

To: Perry Ganz who wrote (18361)	4/18/1999 3:27:00 PM
From: Jorj X Mckie	Respond to of 34811

Perry, Skepticism is a good thing. Why not monitor the thread to see if those that follow P&F are being successful with the method. Concerning the time issue. In "Point and Figure Charting" by Tom Dorsey, the issue of time is addressed. Granted that the charts are not time sensitive, there is a definite general expected time for stock movements to take place with associated statistics of success for the type of pattern. On the surface it can be very effective with position trades that you are willing to hold from weeks to a couple of months. I like faster trading environments and I have found that the lack of time sensitivity in P&F has become less of an issue in these fast trading market days as stock movements seem to happen in a much more compressed timeframe. So I recommend that you don't take the word of Ms. X, TLC, Iceberg or me. If the thread seems to be doing better than 50/50, you will know whether or not you should dig deeper. Another thing that you can do is see how well P&F calls the major market turns. You can do this by going back to the late July messages and October messages to see if the P&Fers anticipated the major downturn and subsequent upturn of the markets. JXM