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Strategies & Market Trends : Point and Figure Charting

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To: Giordano Bruno who wrote (4405)7/4/1998 2:27:00 PM
From: wizzards wine  Read Replies (2) of 34811
 
Hi JJ, just did a quick scan for RS in X's
, trend POS, momentum pos 1 week and came
up with the following in OIL and OIL SRV...

OIL SECTOR
KSF- Penzoil RS sell in X's

Above the BSL@15 and currently on a
nice pull back from 24 to 16

XTO- Cross Timbers Oil RS buy in X's

just broke through the BRL@18.5 created
in the last few months after having been
in a positive trend for 5 years. Currently
at 19 and nice on a pull back to 17ish

ZAP- Zapata Co RS buy in X's

broke a double bottom at 10.5 on 5-21 above
BSL@5.5 positive trend since 1993. Wait for
reversal and buy signal.

RS in O's but just changed to positive momentum

MRO- Nice pull back from 40 to 33

NBL- Nice pull back from 46 to 36

OIL SERVICE SECTOR scan for RS in X's positive
trend...

ticker RS RS Col PF Signal
OIL sell X buy
OMNI buy X sell
RES buy X buy on pull back
TBI buy X buy
VTS buy X sell
WAI sell x buy
DIVE buy X BUY

these are some of the strongest ones
currently, but will need to shape up,
pull back or develope a little to
take a position.

Just my thoughts,

Later
Preston
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