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Strategies & Market Trends : Point and Figure Charting

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To: Ms. X who wrote (7670)	9/23/1998 7:18:00 PM
From: Challo Jeregy	Read Replies (4) of 34811

Jannie, can you help the newbie again? OK.Here goes . . . My question is - if a stock gives a positive breakout, with RS and momentum turning up, and one misses buying on that day, and the stock is up five points and closing on its high the next day - when would one enter that stock? With such a runup, wouldn't it then be prudent to wait for a pullback? I guess what I'm asking is, how would I determine the BRL? Using Qwst as example - on the 22nd, it broke a double top at 35. Today it closed above 39. Does one start drawing the BRL in the column of X's ending at 34? In which case QWST already broke thru the BRL? I'm trying to learn how to draw my own charts and I need help. (No hand-holding here <g>. Just trying to get a grasp of charting) TIA

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