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Strategies & Market Trends : Point and Figure Charting

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To: Ben Antanaitis who wrote (708)	2/16/1998 9:26:00 PM
From: Teddy	Read Replies (1) of 34811

Ben, glad you're here, you might be able to answer a question i put in for Tom on Wednesday: The P&F for NE (Noble Drilling) indicates support at 25 and resistance at 30. With Options Expy Friday and the stock now sitting right between 25 and 30, i think that it would be a bad idea to place a stop right at $25 because if it hit that would most likely be the low of the week. Do you have any thoughts on that? I was thinking that moving it down about 1/2 would still provide protection against a total horror show while preventing getting taken out on a blip. Do you have any thoughts on this? (Warning: Tom's going to answer too<g>)

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