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Strategies & Market Trends : Point and Figure Charting

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To: Hardline who wrote (6253)	8/24/1998 11:00:00 AM
From: wizzards wine	Read Replies (2) of 34811

Morning Hardball, Hope it all works out for you...You read the chart correctly I believe, but I'll comment...KO sector is Bear Confirmed at 32 and in O's...The RS "relative strength" is on a Buy signal in X's, meaning it's out preforming the general market..However KO has given 2 double bottom sell signals in a row and has lower tops,"columns of X's", following those changes back to O's...thus showing supply is in full control... You need a high for the day of 81 to get a new Buy signal...and a new low of 74 even, would give another O at 75 for a new Double Bottom Sell signal, "DBS"... Hope that helps a little, I have found P&F to be very useful in timing what you want after having FAed it... Later Preston

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