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Strategies & Market Trends : Point and Figure Charting

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To: Al Serrao who wrote (9022)	10/24/1998 8:01:00 PM
From: HiSpeed	of 34818

Depends whether you are buying BEN for a trade or LT. The stock was in a trading range of 26-32 until the rate cut announcement. Given that BEN missed earnings et al, the FA on the company isn't looking very good. I wouldn't be surprised to see the stock drift back down into the trading range of the past couple months. OTOH if the FED announces another rate cut, BEN will probably ramp with the rest of bank sector. Also, it could be argued that at its current price, much of the bad news has already been priced into stock. I WAS gonna go long in the 30-32 range but the earnings report looked so bad I'll be holding out for 20-25. The stock is about 40% off its high and down approximately 20% for this year. jmo

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