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Strategies & Market Trends : Point and Figure Charting

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To: james ball who wrote (14007)	2/15/1999 1:27:00 PM
From: james ball	Read Replies (1) of 34810

Ok, here is the answer Jan. I did come into work today. Nice and quiet. 20 Bond gave sell on Nov. 1993. Bank Sector reversed from 78% down in Nov. 1993. It stayed in either Bear Confirmed or Bear Correction down to the bottom at 42% in December 1994. CMB during that perdiod went from about $20 high to $16 1-2 and formed the most beautiful Bearish Signal Revesal you could immagine on the reversal back up. Citi Corp was aboe to work higher during that period form $13 1-2 to $16. That bottom in December 1994 was a great buying opportunity for Banks. Right now my daily BP's show a revesal in the banks. We'll see Wednesdya. The difference is the field positon now vs 1994. 1994 banks come off a 78% BP reading and they are now at 50% Bull Confirmed. A reversal will make it Bull Correction. Tom

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