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Strategies & Market Trends : Point and Figure Charting

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To: Smooth Drive who wrote (11485)	12/15/1998 10:04:00 AM
From: james ball	Read Replies (1) of 34809

Ok here's the deal. NYSE Reversed on internal numbers, today will tell all. Keep in mind that first reversals when in Bull Confirmed usually results in a correction but not of great magnitude. The second reversal down is usually what carries the index back below 30% and grinds down. I have to believe this will be the same. I have sold some calls this morning and placed some sell stops but in stocks BSC, C, PG type charts I find it hard to do anything at this time. A reversal will be Bull Correction which is tantemount to a yellow traffic light. Caution. Those of you who are professionals must operate under the rule 405 NYSE. I think stops might be the thing to consider. I happen to like selling calls as it gives the emoution to the opions clearing corporation of the sell decision. I also like taking others money into my pocket. It is not for everyone however. Stops will do just fine and leave the upside intact if the stock is to continue up. selling calls cap off the upside but give you cash flow now. Tom

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