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Strategies & Market Trends : Point and Figure Charting

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To: Jerry Olson who wrote (274)2/2/1998 10:07:00 AM
From: Ms. X  Read Replies (2) of 34817
 
Good Morning Jerry,
Nice day in the market wouldn't you say?

It is fun to match the stocks with the sector to see how they work together. Semi's look great right now. Don't overlook INTC in your semi picks, they are going to 100 again I bet.

AMAT:If it breaks this triple top at 34 good for a bottom fish. RS negative so use 29 as a stop.
KLAC: Too disorganized. RS negative and weakening. Others look better.
NVLS: Just broke a spread triple top, higher bottoms. OK for bottom fish but RS in negative. Stop of 31.
KLIC: Too disorganized. RS negative.

You found all of the ones with negative relative strength and trading below their bearish resistance line. Find the positive RS and the bullish support line to stack things in your favor. Again, don't overlook INTC. RS just about to flip back to positive. Broke bearish resistance and a lot of spread double tops.

Send me a list of stocks that have a lot of short positions in this sector. The highest percentage. Maybe between that and the P&F charts, we can find some that will have a bump up during expiration.

See ya,

Jan
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