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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: Judy who wrote (15154)	1/24/1998 9:37:00 PM
From: Ms. X	Read Replies (1) of 68113

Hi Judy, I've followed some of your posts and have enjoyed them. Combining the TA and FA is a full time job. Check out the Point and Figure thread again. I posted a letter from Tom Dorsey, the leader in Point and Figure. He discusses market risks and how Point and Figure is used to evaluate. You may enjoy it. What I see happening now is demand coming in for the Oil, Oil services and Precious metals sector.Semiconductors reversed up several weeks ago and are starting to look strong. The NYSE bullish percent however, is still bearish. This means any positions should be taken cautiously even if the sector has returned bullish. I think with Oil, Oil service and precious metals reversing from below the 30% area (in effect 70% oversold) it is a good time to start evaluating the best stocks to buy for long term in these areas. Semi's look stronger and might be in a better positon for trades/options etc. Intel looks great. I found a stock, ASTF, that looks like a monster on the chart. Know anything about them? If we look at the sector bell curve, most sectors are bellow the 50% level giving us a better market position but to feel real confident, I would like to see the NYSE bullish percent reverse up. P&F evaluates supply and demand not daily fluxes. Check out dorseywright.com for more information on P&F. Come back to our site and give us some ideas. I'm happy to answer any questions on Point and Figure.

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