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Strategies & Market Trends : Point and Figure Charting
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To: Challo Jeregy who wrote (5649)8/10/1998 6:59:00 PM
From: feewaybill  Read Replies (2) of 34811
 
Hi Challo,
Tom was making the point that field position is important when looking at the NYSEBP. Right now its at 38%. As you know when the NYSEBP is at 70 % and above, it is viewed as overbought(risky for going long). When at 30% and below its oversold (a safer area on the field). An 8% move down to 30% would give us this field position. However Tom also pointed out that in Oct. of 1990 the NYSEBP went all the way down to 18%. My plan is to continue to play defense and watch for the reversal of the NYSEBP into X's along with the short term indicators.............Hope this explained the 8% thingy..........Bruce
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