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Strategies & Market Trends : Point and Figure Charting

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To: the options strategist who wrote (3527)	6/11/1998 3:44:00 PM
From: wizzards wine	of 34817

Hi Jen, I looked at HD and LOW. I do not think that we can predict the timing of a pullback using P&F, however they usually do pull back at some point. If we look at both stocks, they are RS buy in X's which means that they are out preforming the general market. Also they are both extended and trading at the TOP of their trading range, in addition to being well above the Bullish Support lines. Both of these stocks are preforming very strongly. I don't get the Right Line Split any more so I"m not sure when they split, but I have seen that many stocks going into the split to be a very forceful and not pulling back much if any. I'll let Jan give her idea on entry points, but generally I'd like to see some pullback. Later Preston

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