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Strategies & Market Trends : Point and Figure Charting

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To: John Post who wrote (1939)	3/23/1998 10:17:00 PM
From: Ms. X	Read Replies (1) of 34811

Hi John, I'm glad you found us! We have been a little quiet lately but I promise to pick things up here. I always buy in the money options even if they are leaps. Math works out better. I also never buy options closer than three months in. That being said I own the Jan 80 PFE and the Jan 75 CHV. I wish I had bought more of the PFE but there ya have it. I plan on holding until expiration UNLESS I see the indicators change drastically. If I see the market is in for a correction I will probably stop out on my postions and then buy back in. No crystal ball so until then, I'm holding until expiration. Oil will be good to hold and I've been thinking buying year 2000 would be good. PFE is going to have an incredible year and the consensus is 120 easy. GIC: This has given a bearish signal reversal, which is rare and nice. Resistance here at 20 and then 21, and all time high (yound stock). RS is weak so watch it. Stop of 15.5, violation of the bullish support line. CGI: Just broke a double top and is at the top of its trading band. Don't be surprised to see a pullback. Sector is high at 78%. RIGS: Nice looking chart and great RS but the bank sector is so high it scares me. However, this has been strong making higher tops and bottoms. Stop of 20, two double bottom breaks. ROBV: Keep an eye on this one because it has given two consecutive sell signals and reversed down again after reaching the bearish resistance line. Would like to see it gain a buy signal (double top break) before initiating new positions. Stop of 9.5. MCDY: RS is weak and just gave a sell signal after a lower top. Move to 9 would be the signal that this stock is recovering. MIND: Looks good. Don't be surprised to see some sort of pullback but wouldn't worry, great sector. Stop of 15, a triple bottom break. KLIC: hard to say when to get back in. Moved below its November lows again after a run up. Would watch this one for a while. Take care, Jan

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