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Strategies & Market Trends : Point and Figure Charting

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To: Mike Hagerty who wrote (3518)	6/11/1998 6:08:00 PM
From: Bwe	Read Replies (1) of 34811

Hi Mike...AOL did not show a High Pole Top (HPT) at any time in 1998. After todays action AOL reversed to a down column of O's after 16 X's straight up. A move in this column of O's retracing 9 boxes to $81 would qualify as a HPT. 8 boxes would not be enough, it must be 9 or more. Someone that bought the stock on the way up might want to put a stop in at that price level as a move there would send a negative message about the supply/demand picture of the stock. See previous posts for the implications of HPT's. AOL is coming off of three bullish patterns in a row. The stock has had two consecutive low pole formations (see post #'s 3669/3264 for explanations) and a bearish signal reversed pattern. Very bullish. Consecutive low poles is also a sign of accumulation. Take care, Bruce

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