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Strategies & Market Trends : Point and Figure Charting
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To: papi riqui who wrote (3041)5/14/1998 3:03:00 PM
From: Ms. X  Read Replies (3) of 34810
 
Papers,

PTEK, God Bless them but they just aren't keepin' up with the program
here. The RS just reversed into O's after a lower top (not good). One
more box down on the RS chart and it will be a major sell signal. All
momentums are negative and it is below the trend line. It also broke a
spread triple bottom and the bsl. I'm not sure I can say many more
negative things about it. Oh, yes I can...The sector is moving down.

About the fundies being good. They very well may be and if you really
like the company, keep this in the pile until you see the chart start to shape up.
If and when it does, gives some buy signals, looks like demand is
coming in, then you can consider it. Right now it looks like an
interesting short with that RS just flipping to O's.

Here is the chart:

40 ---------------------------------------------| -------------------
39 * |
38 X * |
37 X O * | *
36 X O * | X *
35 -------------------------------A O X --* ----| --------X O * -----
34 9 O X O * | X O *
33 X O X O * | X 4
32 X O X O * X X O X
31 X O X B | X X O X O X O
30 -----------X --------------X --X O X O ------| X O X O X O X O ---
29 X O 8 O X O X O | X O X 3 X O O
28 X O X X X X O X O O X | X O O 5 <--Double bottom break
27 X X O X O 6 O X O X O * O X O X * O <--Spread triple
26 X O 5 O X O X O X O X * O C X O 2 * O bottom break (owie)
25 -* ----X O X O --O X O X O X --* ----O X O X 1 X ------* ----O and violation of the bsl
24 * 4 O X O O 7 X * O X O X O X *
23 * X O * O * O O O X *
22 X X * * O X *
21 X O X * O *
20 ---X O X --------* --------------------------* -------------------
19.5 O X O * |
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