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Strategies & Market Trends : Tech Stock Options
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To: ViperChick Secret Agent 006.9 who wrote (54482)10/1/1998 11:32:00 AM
From: Jorj X Mckie   of 58727
 
Lisa,
What would reverse down the NYSEBP is based on the number of stocks that give a sell signal vs. buy signal. And to be honest, I would not be able to give you a meaningful answer as to how to figure that out. So unfortunately, I am going to have to point you to Jan or one of the other gurus.

I did post a message on the P&F thread pointing out that the DJIA chart broke its pretty pattern of ascending highs and lows. Jan responded that any pullback that doesn't break 7400 would be considered further basing.

EDIT: DJIA broke through double bottom support when it hit 7850 yesterday and it also broke another double bottom support today when it hit 7700. Next support is at 7550. Breaking the support lines has to be interpreted in some sense as a sell signal whether P&F is considered predictive or not (I'll get burned for blasphemy for that).
Tom

Sorry I can't answer your question more directly.
Tom
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