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Strategies & Market Trends : Point and Figure Charting
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To: Ms. X who wrote (12581)1/11/1999 2:50:00 PM
From: Ms. X  Read Replies (4) of 34810
 
Market comment by Jan I am :-)

Remember that most everything (with the exception of oil and oil service stocks - God love 'em) is extended. A lot of stocks could drop heavily on their charts and still not generate a sell signal. In order for the NYSE BP and others to move down, sell signals must be generated. With the possibility of volatility and large drops with no sell signals, you must manage your trades accordingly. We have discussed many times ways that you can do this.

Right now buy signals are still out weighing sell signals. Looking at the Dow bug it would be hard to believe but remember, the two are not the same. Last week we saw 233 new buy signals and only 32 new sell signals. This tells us the NYSE BP is still moving up and there is opportunity in the market. Your opportunity is limited and no Hail Mary plays are recommended. The easy money was made from October to now. From now on your skill will be tested and you need to be nimble with your positions.

If the Dow drops and stocks you like pull back to support but still have good RS, this may be your chance. If they start breaking bottoms you may need to divorce the stock and split up the common property and decide who gets the kids.

Take care,

Jan I am
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