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Strategies & Market Trends : Point and Figure Charting

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To: Bwe who wrote (3863)	6/18/1998 10:31:00 AM
From: Ms. X	Read Replies (1) of 34820

Hi Bruce, Thank you, that was a good point to bring up. As with sectors, you must take in consideration your field position. If you are in the 40% area and reverse down you can liken that to a pullback on a stock that has been in a nice uptrend giving many buy signals. If you reverse down in the 70% area you know your risk level is high and this is a time possibly to hedge. The NYSE BP does not often move below the 40% level and we are at an area it has bottomed before. I would put in my own impression that I'm surprised it moved past support this low on the chart. Lately it has held during declines but not this time. Just my thoughts as our beloved Preston would say ....

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