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Strategies & Market Trends : Point and Figure Charting

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To: Judy who wrote (7526)	9/22/1998 6:10:00 AM
From: Bwe	Read Replies (1) of 34811

Still long on EMC, Judy. I let the p&f chart and RS chart dictate my actions and both charts display EMC's strength. EMC's RS chart value is just fractionally away from having another X placed in it's current column of X's. Another indication of EMC's ability to outperform the Dow. The stock is currently on a pullback after reaching $57 and is providing a good entry point IMHO. The BSL is at $49, however, I would expect the stock to continue making higher lows ($44, $46, $50, and the current chart notation is at $52 and the stock needs to move to $55 to reverse into a column of X's. EMC's current price is $54 1/4) as it prepares to move toward it's $68 po. Take care, Bruce

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