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Strategies & Market Trends : Point and Figure Charting

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To: Ms. X who wrote (23975)	10/11/1999 8:51:00 AM
From: Mr. BSL	Read Replies (2) of 34811

Hi Jan. Over the past year and a half, I have observed the BPNYSE, HI/LO, 10 week & 30 week to be excellent indicators. On the other hand, the OPTI has been acting more like an over bought/over sold indicator. With the exception of the reversal to X's early last November, the OPTI has been more or less marking tops when reversing to X's and marking bottoms when it reverses to O's! I am sure that this indicator was less contrary in the past and will not be contrary in the future but a craftsman must observe what is and what is is an OPTI that is a fairly reliable over bought / over sold indicator for the time being. I will be lightly playing the hi/lo and 10 week when they do turn up. I will treat a OPTI reversal up as an overbought condition and really tighten up my stops when it turns up. Of course, the green light will come when the BPNYSE turns up, especially from these levels. FWIW, Dick

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