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Strategies & Market Trends : Point and Figure Charting

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To: wizzards wine who wrote (5119)	7/26/1998 8:54:00 PM
From: Margaret Mateer	Read Replies (1) of 34811

Hi Al and Preston, Preston, you said it perfectly about the momentum and climbing on for a hopeful ride - the three internet stocks' (AMZN, AOL, YHOO) charts were awesome P&F-wise, but the high poles were nosebleed high and made no real sane sense to play (with real money). I did figure it was the only way to win, though...MSFT had a great P&F chart (break of double top - RS buy in column of Xs)and CSC had a Bullish Catapult formed and was an RS buy in a column of Xs. The software sector was in a Bull Correction 38- (not so fabulous) and the computer sector was in a Bull Correction 32- (also not so terrific). So the real key was the momentum. So the question is...is that stupid investing or is it smart? I guess if you can watch your positions every day every minute you can do well with the high fliers. The rewards are huge, that's for sure. So thanks for the kind words, Al. Have a great week all. Peggy

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