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Strategies & Market Trends : Point and Figure Charting

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To: freeus who wrote (11176)	12/8/1998 2:15:00 PM
From: Jorj X Mckie	Read Replies (3) of 34816

Hi freeus, First, you should probably just ignore OJ...I do #reply-6731427 :-) There are a couple of reasons for the discrepancy in the readings. First is that P&F does not gauge time, just direction. So it is very difficult to predict "when" using solely P&F. Second, DELL's chart is a little schizophrenic right now; it gave a double bottom sell signal followed by a double top buy signal. It is now bumping its head against resistance at $68. So the trading range reading still seems accurate. Put it into the context of the market though and I get a little bit more positive. Both DJIA and NAZ broke through resistance yesterday. I would also expect to see some strength based on christmas buying (or at least the belief that people would be buying computers for Xmas). So, if it was my position, I would hold. However, I have been known to take unreasonable risks at times and have taken losses as well. JXM

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