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Strategies & Market Trends : Point and Figure Charting

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To: lobster who wrote (164)	1/28/1998 9:51:00 PM
From: Ms. X	of 34817

Lobster, PGO has pulled right to support. Normally this is a good buy in opportunity. A few things worry me though. One, the RS is in a column of O's and appears to be getting weaker. Two, the daily momentum has been negative for 5 days. These combined tell me the demand currently may be waining. I would think waiting for a buy signal above the trend line might be the most prudent action. If you bought here I would definitely initiate a stop of 51. That would be two double bottom breaks and violation of the bullish support line. If it reverses from here to 57 and moves to 59 turning the daily momentum positive, I would think it OK to initiate positions. I would wait and see what this one wants to do. On your other questions. I'm not interning yet. I've been learning directly from Tom for over a year. He says I can teach it now. I have been out to VA to hang out and help around the office but it was only for a short stint. I am planning on spending some time there this spring. I was hoping for March but not sure. My career is headed for TA in Point and figure. I don't want to be a broker, just an analyst. I'll email you about chat room. Monday is fine with me. Jan

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