Point and Figure Charting Message Board

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Strategies & Market Trends : Point and Figure Charting

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To: Backfill who wrote (4443)	7/5/1998 4:18:00 PM
From: wizzards wine	Read Replies (1) of 34809

Hi Jeff, LU nice...RS in X's meaning that it is out preforming the broad market.. The X's represent demand or buying of the stock and the O's represent supply or selling of the stock. If the demand for the stock or there are more buyers that sellers the stock price goes up. X's go up. In order to LU to go from 84 to 85, the high for the day must be a minimum of 85, not 84 15/16 but 85 or greater, thus an 85 1/4 would give you a new X. Should there be more people wishing to sell the stock that there are buyers to buy it, the price goes down. The o's represent supply exceeding demand and thus the price going down... Ideally, we like to try to buy an issue on a pull back into o's, however not so far back that it would create a sell signal. If you'll look back at post 4442 that I did for flashy, you'll see some of the patterns formed and thier names... Hope that helps, Later Preston

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