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Strategies & Market Trends : Point and Figure Charting

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To: lobster who wrote (1387)	3/4/1998 9:45:00 AM
From: Ms. X	Read Replies (2) of 34816

Haven't looked at steel/iron but I think I'll do a perspective on sectors under 50%. Speaking of airlines, big rallying up today. This is where everyone gets confused. How can the indicators be moving down if we are having such a rally? Well, because it may appear to be a rally but probably most in the sector are not participating. Most airlines look to have sell signals on their chart. If this rally doesn't give them buy signals and they reverse down again....more sell signals. These indicator changes happen quietly. Sneeky in a way. Analyst out today saying the FA is great for this sector etc. We have seen great FA companies go down before. Just the way the market moves. Zues looks very interesting. Will break a spread quad top at 17.5. With the RS +/- use a stop of 15, triple bottom break. RS is improving a tiny bit but not close to a reversal up. All momentums including monthly are positive which is good. May be a good one to consider in a portfolio of sectors under 50%. I'm writing it down. Let me know the FA. PAYX looks good here and on pullbacks. Calls may even work but with the market at this level I'm at the edge of whether or not to suggest calls. I am a cautious one though. Jan

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