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Strategies & Market Trends : Point and Figure Charting

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To: Ms. X who wrote (3140)5/23/1998 10:16:00 PM
From: Mr. BSL  Read Replies (2) of 34811
 
Hi Jan. I'm doing the dog paddle in the oil patch.

With Valueline downgraded two oil stocks (Chevron & Texaco) to 5 for Timeliness, the undertow is getting stronger. With the Oil Sector reversing down to Bear Alert, the waves are getting bigger. I'm reading the survival manual(Tom's book) p. 145 "Staying in the wrong sector is a mistake that need not be made if one simply uses the Sector Bullish Percent Indexes to guide their investment decisions"

I'm getting ready to evacuate by moving up my stops real tight.
I see the good ship USS Cash-is-King on the horizon. Hate to get stopped out at the bottom but with the FA and TA both coming apart, this is probably not the bottom. Your thoughts?

Take care,

Duke

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