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Strategies & Market Trends : Point and Figure Charting
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To: Dave Shares who wrote (21399)6/17/1999 6:56:00 PM
From: Ms. X  Read Replies (2) of 34812
 
Hi Dave,

Very nice with CVS!! Bravo!.

The rule of thumb with the PO is you use the column of X's after the
last sell signal that creates a buy signal. In this case, as you
had noted, the column has not completed by reversing down into O's.
You can take a count but it would be a guess.

52 X
51 X X <--First column to create a buy signal.
50 X O 5 --X --X --X This is where you take the count.
49 X O X O X O X O X
48 X O X O X O X O X
47 X O O X O X O X
46 X O <--Last sell signal
45 X ----O X 6 * --------------
44 X O X *
43 X O *
42 X *
41 X *
40 * ------------------------

Your other choice is the horizontal count. You have here 14 columns
that are not interrupted by a break. In other words, you can at some
spot on this chart count strait across without a break.
The row count is 14.
14x3=42x1=42. You see the count is the same as a vertical count.
Add the 42 to the bottom of the lowest column of O's (39).
42+39 = 81. That is your price objective.

52 *
51 O * X X
50 O X ----* X O 5 --X --X --X ----------
49 O X O X X O X O X O X O X
48 O X O X O X O X O X O X O X <--A row without any interruption (14)
47 O X 4 X O X O O X O X O X
46 O X O X O X O X O X O
45 -O --O X O X ----O X 6 * --------------
44 O X O X O X *
43 O X O X O *
42 O O X *
41 O X *
40 -------O X * ------------------------
39 O *
38 *
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