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Strategies & Market Trends : Point and Figure Charting

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To: Colin Cody who wrote (24480)	11/20/1999 5:28:00 PM
From: kaz	Read Replies (1) of 34827

Hi Colin, While the pros are away in Vegas, I'll give it a shot. WEBT is quite bullish for a number of reasons. First, it's above its Bullish support line. Second, its momentum is positive. And, having an RS in Xs means it has been outperforming the DOW, which is a very good thing. Moving up to 73 would not be particularly bullish since it has done that twice before without being able to break through. However, if it manages to hit 74, a triple top buy signal would be generated and all bets are off as to how high it will go. I'm lousy with counting Price Objectives, so you'll have to wait for Jan et al to return for that and anything else I might have missed or gotten wrong. Just trying to help. Regards, Paul Kaz

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