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Strategies & Market Trends : Point and Figure Charting

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To: bobster who wrote (1586)	3/9/1998 4:15:00 PM
From: wizzards wine	Read Replies (1) of 34810

Ok Bobster, With the DOW at the 8500 level, NEWP needs to hit about 22 to flip the RS signal to BUY by my calculations. If the DOW continues to raise, then NEWP will have to increase higher to get the flip. This is not time dependant but a supply and demand constraint. She's just about there. But to use the primise that just because the stock had a RS SELL signal 2,3,4,5,6 or 7 years ago and it has not yet changed back to positive and thus it is close cannot be made. You must look at where on the RS chart you are. If in this case the RS calculated out to give a number of only 1.5 then you would be a long way from turning positive. You need a 2.5 here to turn positive. In this case the question to Tom becomes, with such a small spread in the RS range, would it be safe to say that the closer the RS gets to 2.5 the stronger it gets, which should be true and if we're that close can we take that into consideration in taking a position in that stock. Of course keeping an eye on the RS. What you think Bobster Preston

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