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Re: Point & Figure charts.



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<DIV><FONT color=#000000 size=2>I have used 1 point reversal P&amp;F for 20 
years to trade gold and the gold shares. 3 point are used for confirmation not 
for decision making. If you trade gilts or bonds then 3 point are good as the 
number of price changes per day is large. For 1 point to work properly you must 
plot every price change in the share or index.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT size=2>MS does <U>not</U> do a 
correct 1 point reversal chart, it slavishly follows the 3 point method which is 
totally incorrect for 1 point charting. There is no literature to my knowledge 
dealing correctly with 1 point, maybe I should write something.</FONT></DIV>
<DIV><FONT size=2>Dr Clive Roffey</FONT></DIV>
<BLOCKQUOTE 
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
    <DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From: 
    </B>Von Hef &lt;<A 
    href="mailto:VonHef@xxxxxxxxxx";>VonHef@xxxxxxxxxx</A>&gt;<BR><B>To: 
    </B>Metastock &lt;<A 
    href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx</A>&gt;<BR><B>Date: 
    </B>24 10, 1998 6:31 PM<BR><B>Subject: </B>Point &amp; Figure 
    charts.<BR><BR></DIV></FONT>
    <DIV><FONT size=2>&nbsp;I have been reading John Murphy's &quot;Technical 
    Analysis Of The Futures Markets&quot; and</FONT></DIV>
    <DIV><FONT size=2>he has written 2 chapters on Point and Figure charts, the 
    first deals with intra-day charts,</FONT></DIV>
    <DIV><FONT size=2>and the second deals with end of the day and what he calls 
    &quot;Optimized&quot; charts.</FONT></DIV>
    <DIV><FONT size=2>&nbsp;These trading methods have been used for years in 
    stocks and futures markets, and for this</FONT></DIV>
    <DIV><FONT size=2>reason I ask the following question:</FONT></DIV>
    <DIV><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></DIV>
    <DIV><FONT size=2>&nbsp;&nbsp;&nbsp; Does anyone on this list use or ever 
    used P&amp;F in there trading decisions? If so how?</FONT></DIV>
    <DIV><FONT size=2></FONT>&nbsp;</DIV>
    <DIV><FONT size=2>Thanks in advance,</FONT></DIV>
    <DIV><FONT 
    size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adam 
    Hefner.</FONT></DIV>
    <DIV><FONT size=2></FONT>&nbsp;</DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Mon Oct 26 02:30:55 1998
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