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Strategies & Market Trends : Point and Figure Charting

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To: James Strauss who wrote (21917)	6/26/1999 1:08:00 PM
From: Dana Johnson	Read Replies (1) of 34811

Another good source of leads, Jim. Thanks! I haven't been reading your thread, but just bookmarked it. I'm just catching on to the utility of the general threads. BTW, I bought some FCLX on friday. I was a little slow on the trigger hoping for some more pullback. I am getting to like it when the stock can print some O's so I can keep a tighter read on it. But FCLX finished nicely, nearly at its high. Another I've been trading is ASTN. On the P&F chart, I was thinking that it might trade back to the BSL as it did recently. It seems plausible that a triangle pattern will form. But friday's action printed O's down to a level ($10.5) that had been a prior support point. I went long on it with the short term objective of $12+, just under recent resistance. I figure I can watch the orders as it approaches that level a judge whether the stock may punch through and mark a triple top break. I notice that on a bar chart, ASTN has recently overshot and then pulled back to its 13 week moving average. hmmmm, very interesting! dana

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