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Strategies & Market Trends : Point and Figure Charting

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To: Gwolf who wrote (13188)	1/28/1999 12:30:00 PM
From: Hardline	Read Replies (1) of 34810

Gwolf First let me make sure we are talking the same terminology. When you stated BRL did you mean brl (BRL is Bullish Resistance Line and brl is Bearish Resistance Line). You are correct if the Dollar breaks the brl that would be bearish for all multinationals but that has not happened yet. The charts of multinationals are mixed PG, KO are bearish but G, MCD are bullish. I am not saying you may not be correct, just maybe a little early. The dollar is at $1.16 to the yen and $1.14 to the Euro. If the dollar gets above $1.25 then I will probably sell my G. A stronger dollar not only impacts imports and exports but also the conversion rate because their product is purchased in the local currency. I purchased G when the dollar was falling (4Q) because I figured it would translate into a stronger earnings in 1Q. Bottom line is you really have almost 3 month lag between the dollar and the multinational stock price. Hardline

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