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Strategies & Market Trends : Point and Figure Charting

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To: Ms. X who wrote (6141)	8/21/1998 4:43:00 PM
From: Dennis J.	Read Replies (1) of 34811

TWX Hard to believe, but this stock is still on a relative strength sell signal generated in 1994 with the stock about 32. It hit 100 this year, up over 200% from 1994, and up 46% to 88 since 1/1/98 (66% to its 1998 high). Would the RS charts be more useful as a 2-box reversal, or a 3% reversal? Meanwhile, the present formation looks interesting. After breaking a DB at 91, stock is forming a triangle pattern, which usually resolves in favor of the stocks primary trend. It sits well above its BSL, established in 1994, and looks to break out higher in a better market. Established a Sep 90 call position today, looking for a run to mid 90's. Would appreciate your thoughts. Dennis

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