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Strategies & Market Trends : Point and Figure Charting

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To: Ms. X who wrote (4642)	7/11/1998 5:48:00 PM
From: Judy	Read Replies (1) of 34811

Jan, the P&F chart of ASND is indeed interesting. It reflects events after the fact, how does one decide whether to buy after the first, second or third signal? I assume one buys on pullback after the signal is generated, with the second signal being the most reliable. Here's a peek at history and how it relates to the P&F chart. At the second buy point I said to Mikey that ASND looked like it was being accumulated based on the price-volume action. However we witnessed and/or participated in the ASND debacle last year when Mory lied to the Street about the revenue impact of known product problems (when ASND broke thru all supports and fainted to 25ish) so no one wanted to touch ASND again. But I could not ignore my read and made enquiries on SI to loyal ASND supporters, no reply. Prior to the third buy point I gritted my teeth and jumped on some trading shares, inspite of sleazy Mory. Traded it for the S&P 500 move, back in again for the sector move now. ASND should find a sweetspot in time with its ATM and VOIP products (which Tom Dietz says is vaporware) but it cannot go it alone.

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