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Strategies & Market Trends : Point and Figure Charting

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To: wizzards wine who wrote (1522)	3/9/1998 3:53:00 AM
From: bobster	Read Replies (1) of 34811

Hi wiz, Yes, it helped a lot. Thanks so much. You noted that on few of these, RS was Sell. I have a question for you about that. Let's use NEWP as an example, which is know is not one of the stocks you looked at. It also has RS at Sell, but is in a column of X's. For the sake of this question, lets assume everything else looks good. If I understand TD's book correctly, RS charts last a long time and don't often give signals. Only about once every 2-2.5 years. Tom advises in his book to try to buy stocks that have given a RS Buy signal within the last year. The thinking is that on a "typical" stock, that will give you another year and half or so of out-performance. So, TD is telling us to look at a new RS Buy signal differently than an old RS Buy signal. It seems to me that we should do the same with an RS Sell signal. Here is my question finally: What about a stock like NEWP, which gave its RS Sell in May of '92. That is six years since the last signal. At this point, isn't it likely to reverse. Should we just ignore that if everything else looks good? What do you think? bobster

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