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Strategies & Market Trends : Point and Figure Charting
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To: papi riqui who wrote (2963)5/13/1998 8:09:00 PM
From: Ms. X  Read Replies (1) of 34816
 
Hi Papi,
Didn't forget about you. Your question is very good and it sets for
some good examples. Thanks by the way for adding the post numbers,
that helped tremendously.

Regarding GIFI:
At the time we first discussed GIFI the RS was in a column of O's and
the momentums were negative. It was also trading below its trend line.
I had made the comment "Gifi needs to break that brl and flip its
momentum positive." It did just that on 4/15 when it broke a double
top and the brl. See second chart.

(First chart from March 31st)
25 | -------------------------------
24 * X * <----|
23 | * X O X * Lower tops
22 | * * X X O 3 O * |
21 | X * X O X O X O X * <--|Keeps bouncing off brl.
20 O ----X O * --X O X O X O X O ---
19.5 O X O * X 2 O X O X O Three consecutive sell signals
19.0 1 ----X O X --X ----O X O X O ---
18.5 O X X O X O X O X O X
18.0 O X O X O X O X --* O --O X -----
17.5 O X O X O O X * O
17.0 O --O X ----O * ----------------- <--Stop point.

Chart as of today.

28
27 Top
26 5
25 --------------------------------X ------------
24 X * X
23 * X O X * X
22 * * X X O 3 O * X
21 X * X O X O X O X * X Med
20 ----X O * --X O X O X O X O * --X <--Move on 4/15 that broke a double top and the brl------------
19.5 X O * X 2 O X O X O 4 * X This was your OK sign.
19.0---X O X --X ----O X O X O X O X ------------
18.5 X O X O X O X O X O X O X
18.0 X O X O X --* O --O X O --O ---<--Held support
17.5 X O O X * O
17.0- X ----O * --------------------------------

Breaking the brl is a bullish sign. I would have still said to be
careful and that it might be a play for traders since the RS is still negative.
We look for buy signals such as that double top to indicate demand is
coming in. When you first asked, it had been giving consistent sell
signals. It turned around, gave a buy signal and then surged.
You have to keep up with the charts to see what they tell you.
Do you see?

Next MYL but I see I didn't include a chart with it, shoot.

Jan I am
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