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Strategies & Market Trends : Point and Figure Charting

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To: Smooth Drive who wrote (12738)	1/13/1999 7:48:00 PM
From: Judy	Read Replies (1) of 34810

Hello, Eric Thank you for sharing. Now a few trading observations to couple to the P&F macro picture. Note whether the rebound in stocks today was due to heavy institutional buying rather than retail trades. From the price volume movements I'd say that institutional limit orders were triggered when key stocks hit specific price points. The institutions did not know that Brazil would devalue yesterday after the close, these program buy orders were placed prior and indicates at what price level value is perceived. The marker is remains long-term bullish, short-term corrective ... so that institutional portfolios may be realigned. Macroeconomics provides a climate for moderate economic growth going forward, the overall market indices will churn. Specific sectors and stocks will shine. When the media says that '99 will be a market of stocks and not a stock market .. one know that this has been true for a long time. The media only reports the obvious. Take care.

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