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Strategies & Market Trends : Point and Figure Charting

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To: the options strategist who wrote (3335)	6/2/1998 12:49:00 PM
From: Ms. X	Read Replies (1) of 34811

Hi Jen, Well, on DELL the stop is at 87 so your risk reward isn't the best here but overall too late?...ummm don't think so. Still think the next stop is at 73. Remember though this is a high flyer and not everything is in place for a short. For instance the RS is still strong etc. What we are going on is the market weakness and the fact that DELL was so extended. LU is good but I'd like it better if I saw it break all near term support at 65. That way I'd know it had a lot of real estate between there and the next support at 52. Stop on a put from here is 74. TXN is just getting good. 40 is a reasonable target. INTC if it breaks to 67 today, has support at various levels down to 50. It is obviously very weak. Would be nice to see it retrace up before getting in on a put but you never know about these things. Falling to 67 would be a horrible sign for INTC I believe. Take care, Jan

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