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Strategies & Market Trends : Point and Figure Charting

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To: dennis michael patterson who wrote (9080)	10/27/1998 10:00:00 AM
From: Ms. X	Read Replies (2) of 34808

Hi Dennis. I see Wizzie answered your question to Nordby's analysis on Dell. ...Point & Figure: Reversed to the downside on Oct 20, 1998. A P&F upside reversal takes place at $58 1/2. Summary: Technical indicators have turned bearish. SELL! DELL COMPUTER CORP (DELL-Nasdaq) @ $52 1/2 Stop. Use a protective stop of $55 1/2. I had a good exchange with Lisa on the subject of Dell when the RS first reversed into O's. She was asking if the reversal in the RS was a commanding sell signal and if one should immediately exit Dell. The analysis isn't that easy. When the market is in such good position as it is now you can take a little more risk in your charts provided FA etc is still there. Dell reversed negative on the RS indicating it would start to under perform the market. For example. Under performing in a market going up 20% and the stock only moving up 10% is much better than a market going down 20% and the stock under performing the market by moving down 30%. Does that make sense? With Dell not giving any hint of a sell signal on its trend chart I recommended a hold at that time unless it broke down on its chart and then hedge. I didn't recommend a sell. If the market were in Bear Alert instead of Bull Confirmed and moving south like last May, my opinion and analysis would have been different, but it isn't. Currently Dell has given a buy signal and the RS is improving nicely. If Dell keeps this up the RS is sure to flip positive again. Short lived this one I think (reversal down that is). I think (this is just my opinion) Nordby took the RS turning negative as an absolute without taking into consideration market, sector and trend position. Dell can be bought on pullbacks. I think Wizzie set the parameters. I hope that helped Dennis. Take care, Jan I am

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