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Strategies & Market Trends : Point and Figure Charting

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To: Judy who wrote (1856)	3/17/1998 11:50:00 PM
From: Ms. X	Read Replies (2) of 34802

Hi Judy, How have ya been? I just looked at JBIL for someone and I wouldn't put it on my top ten list. It has given three consecutive sell signals below the trend line. Next sell signal at 37. Almost reversed down today. Daily momentum just about flipped negative in fact if it moves .25 lower tomorrow it will. For an aggressive trade I would wait for it to break resistance at 42. CAT is looking good but I would expect it to retrace some before or at the 59 area. This would be resistance plus the top of the trading band. Stop of 50 a triple bottom break. DD: looking good. next resistance at 69 and I would expect it to pull back at that point. I don't think this would be a bad thing just normal market flux, same for CAT. Just read the part about JBIL. With it tanking to 32-33. I would avoid this one and even consider puts on any upside movement. CPQ has a negative RS now and broke its trend line. I'd wait to go long, puts would be good to initiate on any strength. Hope things are good with you, Jan

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