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Strategies & Market Trends : Point and Figure Charting
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To: Ms. X who wrote (473)2/6/1998 9:04:00 PM
From: Mr. BSL  Read Replies (2) of 34812
 
Racing Car PNF analogy. (Bay Networks) As we review past trades, we find that the good ones were a result of sticking to our rules and bad ones were a result of out guessing ourselves and breaking the rules. To keep myself on track, I use a racing car analogy and would like to share an example using Bay Networks. A racing car may look good on the outside but may not get going if it has dead battery (NYSE % Bullish in a column of O's!).

Bay Networks - Bay

NYSE % B:.......In a column of X's....................[Battery charged]
Broad Group:....Computers Bear Correct 42.............[Gassed up]
Narrow Group:..C-Loc NW Bull Alert 26...........[High octane]
Institutional
Sponsorship:.....S&P 500 Company....................[Big pit crew]
FA:..................Value Line 2.............................[Mech condition]
RS:..................In a column of X's.......................[Pointed forward]
...................(Reversed up to 3.75 today)
Bull Supp Line:.Above..................................[Good tires for the
....................................................................long ride]
Buy at:.........Pullback to 28............................[Spark]
Stop at:........Break Bull support at 26.................[Brakes!]
Vert Target:....40
Take some profits at: 36 1/2 (30% gain)

regards,

duke60

ps - Does anyone have any tips on aligning text columns when submitting a response in an SI thread?
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