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Strategies & Market Trends : Point and Figure Charting

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To: Judy who wrote (13975)	2/14/1999 8:18:00 AM
From: Bwe	Read Replies (3) of 34811

A very Happy Valentine's day to one and all! I've been catching up on the last week or so of messages on the thread and it makes for very good reading....as usual. Chartcraft has been quite bearish and believes that without the help of the bond market, "this drop we expect now should be worse than the last two". Chartcraft's Master Indicator and Sentiment are also very bearish, so the near term outlook for the market is less than promising. They urge prudent caution in your own portfolio management and by no means suggest a wholesale liquidation of stocks. Margin reduction, raising cash, tightening stops, lowering upside targets, putting in some short sales, are all of the recently suggested techniques for coping with this market. Buying Climaxes (new 52 week high and finishes down for the week) have started to pick up with a large 102 last week. Lots of High Poles and no new RS Buys in the Option stock universe last week further add to the bearish case. Most interesting is such a previously strong stock such as E-Trade is one box from a RS Sell Signal. Others in the group will likely follow in the weeks to come? Best wishes to all! Bruce

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