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Strategies & Market Trends : Point and Figure Charting

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To: Smooth Drive who wrote (11628)	12/16/1998 11:48:00 PM
From: chartseer	Read Replies (2) of 34811

Thanks for the Chartcraft update! The only two positive charts of the dow 30 at the moment are DIS which is below the BRL and has resistance at 35 and GE which I have drawn in a BRL from the top of last July of 97 to recent top of 94. Not strictly PnF I know but sometimes it is significant. My main reasoning is with only two positive and nine negative charts DJIA is headed lower.What issues are going to lead the DJIA lower? Looking for sells instead of buys at the moment. DJIA bar chart looks like a head and shoulders pattern to me. Think buys are in commodity issues at the moment. Long positions with very close stops. Bought gold issue because no one likes gold about now. Would Europeans want common currency or gold? Don t know myself if I would want a common currency with Mexico and Canada. Think gold would serve as a comfort station while entering unchartered waters. Then what the heck do I know? Chartseer

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