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Strategies & Market Trends : Point and Figure Charting

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To: Judy who wrote (538)	2/9/1998 10:03:00 PM
From: Ms. X	Read Replies (1) of 34811

Hi Judy, I agree about the sector rotation. Most of the sectors had already reversed down into oversold territories and have begun to show strength. Oil just reversed up last week. Neta is above its bullish support line. It has made two consecutive buy signals and is on a nice pullback. Stop of 50, double bottom break and violation of the bullish support line. Stops are good here, relative strength is weak. P&F uses the high and low prices of the day. The columns are set up in X's (trending up) or O's (trending down). When Charles Dow created this 100 years ago he actually put the price in the boxes but noticed it was hard to read, thus he created the X's and O's. If an X exceeds a previous X, that is a buy signal. If an O exceeds a previous O, that is a sell signal. Check out dorseywright.com to see a sample of charts. Good information there too. I've found some OK pullbacks in LU and INTC. I like the way RON has pulled back. I'm considering calls on it tomorrow. CPQ looks good but not on a pullback but a good risk reward as is. How are things going? Still in AMAT? Jan

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