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Strategies & Market Trends : Point and Figure Charting

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To: edward miller who wrote (9333)	11/6/1998 6:21:00 PM
From: wizzards wine	Read Replies (2) of 34811

Evening Edward, I saw that Tom gave you a read so I'll keep it light.. VLSI went as low as 6 and then gave a DTB (double top buy) at 9..It then went up to 11, reversed to 9 and now is sitting at a DT (double top) of 11... A move to 11.5 will give at DTB and the first vertical count gave a target of 21.5, but remember the BRL (bearish resistance line) is at 16.5 and it must break through this to achieve the target... If it gives at DTB at 11.5, that is 2 buy signals off of the bottom. If one liked the FA, you could look for a pullback in the area of 10 for an entry point, with your stop loss then being 8.5 or the first DBS(double bottom sell) signal. As Tom said earlier, the Semi sector is at 68+ and approaching the over bought area and the RS is still in O's meaning this issue is still under performing the general market... If the FA is strong, I'd look at this as a trading play until the RS reverses back to X's, which it looks like it may do if it gets back up around 16ish. JMHO Hope that helped, Later Preston

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