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Strategies & Market Trends : Point and Figure Charting

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To: Ms. X who wrote (5853)	8/19/1998 3:40:00 PM
From: Judy	Read Replies (1) of 34809

Hi, Jan I did't understand your recent P&F signals and read for LU, they were the opposite of mine for trading LU. Your post said to hedge at 84, and buy to cover if short at 92. I would do and did the opposite. Went long for a trade as it rebounded from 84ish from below, based on a medium risk bounceoff of the 50-day ema, max-pain options flux, and the 9 day bbs. Also if I would not short LU at 84, I would also not hedge a long position at 84 and wait for retrace up. As posted to Ben A, I unloaded yesterday at 89+ since that was close enough to the max-pain strike 90. Today when LU could not break 92 1/5 under a program buy, then it would be a trading short. Examine the intraday chart and you will see the instant drop from 92 to sub-90. No rush on this. I have no open trading position on LU now, just want to understand what you were saying.

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