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Strategies & Market Trends : Point and Figure Charting

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To: Judy who wrote (5056)7/24/1998 6:57:00 PM
From: Ms. X  Read Replies (2) of 34811
 
CMGI
Judy, all momentums are positive and the RS is gaining strength.
Already on a buy signal, it moved up another two boxes just recently.
Just broke a double bottom today but looks like it will reverse back
up tomorrow. If entering positions, I would then use 74 as the stop
loss.


91 X
90 ------------X O -----
89 X O
88 X O
87 X O X
86 X O X O
85 ------------X O X O -
84 X O X O
83 X X O X O
82 X O X O X O
81 X O X O X O
80 X O ----X O --O -
79 X O X O ?<--Could be tomorrows action.
78 X O X O ?
77 X O X O ?
76 7 O X O ?
75 X O ----X ----O -
74 X O X <--If so, use this as stop
73 X O X
72 X O X X
71 X O X O X
70 X O X O X -------
69 X O X O X
68 X O X O X
67 X O X O X
66 X O X O X
65 X --X O X O X -------
64 X O X O X O X
63 X O X O X O X
62 X O X O O <--If not, support way down here :-(
61 X O
60 X -------------------
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