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Strategies & Market Trends : Point and Figure Charting

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To: chartseer who wrote (13838)	2/11/1999 3:52:00 PM
From: james ball	Read Replies (2) of 34809

Chartseer you are right. Many of these stocks are down big time over the last week or so and stocks like IBM up 7 today just move it back up to a lower top. Probably the most important consideration is IBM RS reverses into O's today. What is interesting is when you look at the RS chart of IBM it has a tendency to revers in Feb, Mar time frame on its RS chart. This is very interesting. March or April usually ends the underperformance in IBM. We'll see how this plays out. Still today many stocks down in a 160 point up Dow. My bet today is you won't see many net new buy signals as much of todays rally is reversals up on long tails down. It will take another phase down to reverse the charts to set up the potential of a buy signal at lower levels. Just happened to pop buy the thread again. Tom

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