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Strategies & Market Trends : Point and Figure Charting

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To: The Perfect Hedge who wrote (6255)	8/24/1998 4:07:00 PM
From: chartseer	Read Replies (1) of 34811

I have IBM puts, Believe chart is forming a BRL and that IBM had a buying climax the day it hit 138 and closed 132. Believe 122 a sell signal is relevant, Would rather purchase puts near 130 with a good risk reward potential than wait for 122 BUT COULD GET BURNED. It seems to me that those lower tops almost always lead to a BRL and a sell signal but I have and could be wrong. Good luck! Chartseer

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