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Strategies & Market Trends : Point and Figure Charting

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To: Sergio H who wrote (709)	2/16/1998 6:27:00 PM
From: Ms. X	Read Replies (1) of 34822

Hi Sergio, The oil service reversed up from the 16% oversold territory last month to bull alert. It has moved to 40% and into bull confirmed. The oil sector reversed two weeks ago and has moved from 29% to 44%. Typically the oil service sector peeks in the June-September time frame between 70-80% overbought. Oil sector peeks in June-October around the 65-70% overbought area. Once a sector is in the 70% overbought area it can stay there for awhile. Once it reverses it can slide easily to the 40% oversold area. Remember October? We were out and covered on the first reversal in October. On the reversal up last month we were back in. I like sector rotation. Computers just reversed up and CPQ and DELL reversed up their relative strength last week and last month respectively. CPQ looks good. Dell scares me. Take care, Jan

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