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Strategies & Market Trends : Point and Figure Charting

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To: Dennis J. who wrote (8351)	10/7/1998 11:21:00 AM
From: Ms. X	Read Replies (1) of 34811

Hi Dennis and all: RE Field position. When the NYSE BP goes "defensive" in O's at this level, it isn't as ominous as when it goes defensive at the 70% level. What it tells you is that you need to keep an eye on your position and make sure you are buying those that have pulled back to support and keep stops in action. This sets up for a lot of Bull Confirmed status' at this low a level. That can very well indicate a powerful bull run. What this should do is inspire you to find and perhaps toe dip into some goodies so you don't miss the run when it happens. A reversal at the 30% level is kind of like a fumble but the ball is bouncing around on the field and neither the offense or defense has recovered it. OR, both teams are piled on the ball and the refs are trying to sort everyone out. One of those on the edge of your seat with beer in hand kind of deals. As long as the cable doesn't go out we will be OK... (jj how was that for football analogy?)

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