The signals are generated using the semi log scale and high/low prices (as opposed to close only prices)*
Example:
Bull to 98.00 (11 Nov 2004)
The "Bull" refers to the current p&f status of the chart. "Bull" charts indicate that the instrument is holding a P&F uptrend, ie a sequence of higher highs and higher lows. The blue arrow indicates that this uptrend is currently displaying an upward column of "X"s. Should this move to a countertrend column of "O"s, the symbol will change to a down arrow. The P&F status will only change to "Bear" when the chart breaks to a lower low.
"98" is the automatically generated p&f target. This is based on a three-times multiple of the move that preceeded the breakout. The date (11 Nov 2004) is the date that the current signal was generated.
Stop loss at 82.00
This is the p&f stop loss i.e. below prior column of Os for a bull trend and above prior column of Xs for a bear trend.
Relative: Bear (3 Nov 2004)
This is the p&f status of the p&f relative chart (ratio of stock/S&P500**) and the date the signal was generated.
Rel Mom: +3.9%
This is the percentage difference between the closing price and the 30 week moving average.
* Breakouts for the C2F2 service are based on close only P&F charts.
** Other indices may be used as a benchmark for overseas stocks.
Have you ever said to yourself, "I wish some one would let me know when Microsoft pulls back to $24, or when Gold regains £750!". Well, now the Investors Intelligence website will do it for you. Simply pick your chosen stock, select
chart alert from the menu on the right hand side of the chart, and select an upper or lower limit. And there's more! You can set any of the above signals on the email alerts, so that you know when stocks in your portfolio post technically significant action.
Scanner-type screens are available for both P&F and technical data, with options to create custom scans based on preferred criteria. The scans search through all available data on the system and filter stocks which meet the chosen criteria.
Alternatively, users can utilize the popular pre-configured scans which are already available within the Investors Intelligence system. The pre-configured scans are used by professional investors, providing valuable insights into potential trading opportunities.
Under Portfolios in the top menu, select My Watchlists.
If you have no watch lists, you will be prompted to enter a name.
You can then go to stock charts in the normal manner and simply add them to the watch list by clicking the “Watch List +” button in the right hand chart menu.
If you have multiple watch lists, they can be viewed using the left drop down menu located by clicking Portfolios>My Watch Lists. If you already have a watch list and want to open another, choose “create a new watch-list” at the bottom of the above drop down menu.
A useful feature is that you can now sort the stocks in your watch list by the various columns in the tabular view. For example, if you many stocks and want to identify recent breakouts (maybe as part of a stop-loss policy) then sort by the “Breakout Date” column – this is the date of the most recent p&f signal change.
At Investors Intelligence we allocate a numerical value to each instrument based on the condition of its Point & Figure trend.
A Point & Figure uptrend scores +10 points.
We adjust by –4 or +4 depending if the stock’s momentum is in-line "with the trend", i.e. a rising column of X’s, or countertrend, i.e. a falling column of O’s.
A Point & Figure downtrend scores -10 with the same adjustment for trend/countertrend.
We then apply the same scoring mechanism, but with a 50% weighting to the instrument's relative-to-index performance
Relative performance (to underlying index) uptrend: +5 (+2/-2)
Relative performance downtrend:-5 (-2/+2)
The site allows you to draw p&f charts using a variety of scales:
The Chartcraft Semi Log Scale is the traditional scale introduced by Chartcraft.
The Extended Semi Log Scale is a recent adaptation of this scale giving greater sensitivity to lower priced stocks and extending the scale to allow for high priced foreign stocks and indices.
The Fixed 1% Scale generates a chart using box sizes that are 1% of the current price. This provides a good standard sensitivity of signal but has the disadvantage that it becomes hard to work out specific levels due to the boxes not being easy round numbers.
The User defined Box size allows you to input a specific size for that chart.
Users can overlay the Bullish Support Line (BSL) and the Bearish Resistance Line (BRL) on P&F charts by clicking the Trend Line box on the right hand chart toolbar.
Let's look at the Bullish Support line first. These are drawn at an angle of 45 degrees from a low. For long-term investors these support lines are an important indicator - basically a stock can be viewed as holding a positive trend if it maintains above its bullish support line. In many cases this trend can last many months and indeed years. If the stock breaks through this line it would usually indicate a change of trend.
The Bearish Resistance Lines are drawn at an angle of 45 degrees from a high. For short term investors these lines are an important indicator of where the ceiling of resistance is for a stock. The interpretation is similar to the bullish support line but in reverse. The stock is effectively capped by this resistance line until it can break through.