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Strategies & Market Trends : Point and Figure Charting

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To: chartseer who wrote (11642)	12/18/1998 6:13:00 AM
From: Bwe	Read Replies (1) of 34811

Thanks for the nice words, Chartseer. Bullish Shakeout Reversals are very good performers, however, the compressed timing of bullish action in CMB's stock caught all CMB shareholders by surprise I'm sure. I'm continually amazed each day at a p&f chart's ability to foreshadow both good and bad news, and their ability to clearly identify the presence of a bullish or bearish trend. P&F charts and indicators are the finest stock market tools I know of. The people who practice this fine craft are a special bunch as well. With regard to CMB, yesterday reinforced the trend reversal from bearish to bullish that took place over the past month and a half. The stock had a Triple Top Breakout at $66, and looks to be headed to the Bullish Resistance Line (brl) at $73 at a minimum. The horizontal count price objective indicating an intermediate term po is $74. The longer term price objective via incomplete vertical count (the stock is still in the rising column of X's that will ultimately determine the final objective) is $89. brl's also at $82 and $93. Have a good day everyone. Bruce

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