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Strategies & Market Trends : Point and Figure Charting

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To: The Perfect Hedge who wrote (4105)	6/25/1998 10:53:00 AM
From: wizzards wine	of 34817

Good Morning Glen, Looking at PFE and MU on P&F for you I see the following: PFE is RS Buy in X's meaning it's out preforming the market in general. It gave a double bottom sell on 5-22, and has given lower highs and lower lows since that sell signal in early April. Like to see a double top buy signal at 116 to show demand is returning and then look for a pull back to the 105-110 region to aquire. MU is RS Sell in O's, poorly underpreforming the market. It would take a high of 31 at a DOW close of 8800 to reverse the RS into X's. It formed a bearish catapult on 6-12 and again is forming lower tops and bottoms since the sell signal in Mid February. It will take a 27 to give a double top buy signal, but the Bearish Resistance Line is right there at 29. Really want to see this one break that BRL and make 30, rather than bounce off the 29 and head back south. Just My Thoughts Later Preston

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