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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Ms. X who started this subject8/9/2000 11:43:32 AM
From: Ms. X  Read Replies (1) of 9427
 
CSCO. Acting just as it should.

Here is the chart for Cisco. YOu'll see that it rose to
major resistance and has now started to cool off. A reversal
down in the next few trading days followed by a reversal up
and possible quin top buy at 70 would be extremely positive.

70 --------------* ------------------* -
69 X * X X * x <- Spread Quad top resistance.
68 X O * X O X O * x <--Broke the BRL today
67 ---------X O --* --------X O X O --* X
66 X O * X O O X X
65 --X --X --X O X ----* X --X ----O X O X ----
64 X O X O X O X O 7 X O X * O X O X
63 X O X O X O X O X O X O X * O X 8 X
62 X O O O O X O X O * O O X
61 X * O O * O X
60 --6 --------* ----------------------O X -----
59 X * O
58 X * <--Stop point.

Entering Cisco here would not be good because your risk
reward isn't good. The stop is way down at 58. To enter,
wait for the pullback that will happen here at 69 and enter
on the next reversal up after the pullback. This will give
you a closer stop.

Remember the chart is still on a major buy signal so you want
to wait for the confirmation of a positive trend.

There is always a possibility with the RS negative that it
could crumble at the resistance at 69 and just hover around
the same trading range that it has been in for the year.

If it breaks to 70 though it will be a big base breakout.
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