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Strategies & Market Trends : Point and Figure Charting

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To: Bwe who wrote (3660)	6/14/1998 12:18:00 PM
From: wizzards wine	Read Replies (1) of 34811

Morning Bruce, A look at your Airline stocks with the sector currently at 50 %, the last two times the sector reversed at 44 and 46% respectively so we could be getting close to a reversal into X's. Of the three you listed ALK,CAI.B,and DAL , I view CAI.B as the best of the group. Below I will review each as I see them: ALK - Reversed into RS O's in the April to May time frame while trading in the 57-59 range, due in part to a short rally in oil prices. It then gave a Quad bottom sell with mostly lower tops. In todays market ALK would need a 58 with the Dow closing at 8834 to reverse back into RS X's. Currently, I'd like to see it drop into O's to 50 and then reverse back into X's to give a double top at 55. This would show restrained demand coming back into play. CAI.B - RS in X's. This one looks really good and if you were to draw another trend line BSL just at the point where it has been dropping to and holding support, you have a very nice upward progression for over a year. Little ups and little downs to support. Very nice pattern. DAL - RS turned to O's in February and it has been trading mostly sideways since December. As you can see here, with the down side risk of fuel prices the only one not effected during the last year has been CAI.B ...If ALK responds by reversing RS into X's, then I'm be inclined to look at it also per it's past preformance. Just my thoughts.... Later Preston

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