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Strategies & Market Trends : Point and Figure Charting

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To: Judy who wrote (8740)	10/16/1998 6:56:00 PM
From: Bwe	Read Replies (1) of 34811

Bullish chart action in the Oil Patch continued today, Judy. Here's a sampling of some of the bullish p&f chart patterns many of these stocks have moved into over the past few days: XON: Double Top Buy signal @ $76 (this is the third consecutive p&f buy signal on the stock's chart. VTS: Low Pole Buy signal at $15 1/2. Low Poles increase the odds of a move above a previous top which in VTS' case would be $19 1/2. A Low Pole is a bottom fishing pattern that is an early warning pattern that gives the chartist a clue that demand is going to be outstripping supply in the near future. HAL: 1 box away from a Bearish Signal Reversal pattern at $35. WFT: Low Pole buy signal at $19 1/2. SLB: Low Pole buy signal at $49. SII: Triple Top buy signal at $30. NE: Low Pole buy signal at $14. Double Top buy would be at $16 1/2 TDW: Double Top buy signal at $21. More later. Bruce

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