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Strategies & Market Trends : Point and Figure Charting

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To: HoodBuilder who wrote (5401)	8/4/1998 10:59:00 PM
From: Ms. X	Read Replies (2) of 34811

*****Market Update***** Today we saw 1 new buy signal. Let's hear it for AMP!!!!!! We saw 84, yes 84, new sell signals. Ah hum... Here is what the indicators look like today. The NYSE BP most likely is in the 38% range breaking a spread double bottom at 44%. Support at 34%. Last time it was in this area was in 1994. Lowest at 18% was in 1990. The OPTI BP and the OTC BP are in the 30% range. Interesting development. The High Low index has moved below the 10% level. Whooa. This is beyond the oversold territory and into washed out land. Remembering that this indicator is a short term indicator, a reversal up from this low a level would be a great sign. So, wipe those frowns off your faces. As we reach these low levels, the promise land comes closer. Time to start putting together some ideas for purchase when the indicators start to reverse. No need to wait. You know it will happen eventually. We will look for the sectors to reverse up as well. It goes without saying that we will WAIT for the indicators. You all should have confidence in them as they have guided you well so far. I'm keeping this short since Tom did a huge piece for the net and you all can read it there. Until tomorrow... Jan I am

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