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Strategies & Market Trends : Point and Figure Charting

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To: Smooth Drive who wrote (4866)	7/18/1998 9:30:00 AM
From: Bwe	Read Replies (1) of 34811

Easy E.....I've been posting lately on the Motley Fool Oil & Gas message board, assorted p&f technicals and data that I feel would be of interest to readers of the board. Of late, I've been posting new RS Sell signals and RS Sell Alerts (one box from a sell on it's RS chart) for stocks in the group. As I posted on the Chartcraft Report on Wednesday, Diamond Offshore (DO) gave a RS Sell signal at $34 after having been bullish since July '97. One poster in particular has pointed out the lateness of the signal and I've explained how the RS trend changes by way of movement into a column of O's, and this trend change is particularly relevant after a good run up in a column of X's on a stock's RS chart. I further explained that we don't only just look at the actual buy and sell signal, but additionally, changes in trends within the buy and sell signals as well. This discussion motivated me to make a little chart of all the oil sector stocks that have given RS Sell signals in 1998 and their subsequent price action after the signal: The chart will be in the next post as I have no idea how to keep the chart in this post without making the text unreadable. Eric, this data is from Chartcraft and I find on rare occasion that Chartcraft and DWA do not match with regard to all charts and data. Cliffs Drilling is one where I believe DWA had the stock on a RS Sell signal since March and Chartcraft just had the stock moving to RS Sell. Whatever. The conclusion that I came to years ago and this chart clearly shows, is that your investment results improve dramatically just by taking RS Buy and Sell signals and making RS study an important part of the investment decision process. Following RS signals one way or the other puts you ahead of the game and is a great tool for all investor's. Investor's choose to ignore RS signals at their own peril. Your valuable thoughts are requested on the subject. Have a great weekend. Bruce

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