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Technology Stocks : C-Cube Microsystems

CUBE 39.61

+1.2%

Jan 16 9:30 AM EST

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To: DiViT who wrote (230)	2/24/1998 3:39:00 PM
From: Stoctrash	Read Replies (1) of 324

P&F is an "Ancient" charting technique. I believe Charles Dow aka "Mr. Dow Jones" used this stuff or invented it. Anyway, X's are for up and O's are for down plots or "boxes". "Box" is the common term used for the individual X or O's. You only make another X or O if the price moves, time is not factored into this charting other than for reference sake. A box is drawn if a stock moves more than $.50 for stocks under $20. Over $20 and you use $1 box size, over $100 and most use $2 per box. Usually a 3 box reversal system is used to shift from plotting X's to O's or vice versa. A group of X's and O's and then back to X's shows at what level a stock is forming short term peak, bottom and then reversal. Several swings from X's to O's and back show where a consolidation is forming. Now what does this tell us about C-Dog? 1)A big consolidation has taken place between 18-22 2)A close above 22.50 would obviously be bullish and cause more X's to be added to the current row. I believe a 19.50 trade would be needed to start drawing O's and turn CUBE bearish in P&F terms. 3)Short term: CUBE is bullish because X's are the last column. Trendlines, Triangle charting formations can also be used with P&F charts. Its not perfect or fool proof, but it does show you a bare bones plot of where the price activity has been and at what levels trends may change, supports might be found, and resistance levels could be established. scobey-point-figure.com This is the site I use to get some of my P&F charts (more charts than at Dorsey Wright and way cheaper) Tell him Fred sent ya for a free trial. How'd I do?

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