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Strategies & Market Trends : Point and Figure Charting

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To: Ms. X who wrote (7286)	9/15/1998 3:23:00 PM
From: Judy	Read Replies (1) of 34810

LU ... actually the breakdown has been going on for quite a while now and the intermediate trend remains down. Message 5603058 Fundamentally LU's data networking strategy has not yet been put in place, and remains unclear until they make the necessary acquisitions later this year. This market cannot abide uncertainty, in fact it would rather have bad news since it can then quantify a bottom. Long ago I posted on the Idea Thread that long-term investors may want to wait closer until October when LU shows its hand before taking a serious position. Nancy asked if I thought LU might do a TLAB ala CIEN. Back then, I thought the likelihood was rather low ... but in reality, there is alot of real estate below with no consolidation once LU breaks support at 70.

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