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Strategies & Market Trends : Point and Figure Charting

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To: Ms. X who wrote (14109)	2/17/1999 1:55:00 PM
From: Bwe	Read Replies (1) of 34823

Good afternoon, Ms X. A couple of things come to mind this afternoon.... We might have seen a top in the bullish sentiment with last weeks reading of 61.2%. This week's reading came in at 55.7%, the lowest % of bulls thus far in '99. Good riddance to the euphoria. Finally have an oversold reading in the NYSE % of 10. US Air (U) might have put in a potential Bear Trap today with it's move on it's p&f chart to $44. A move to $43 would ruin the Bear Trap scenario so this one needs a tight leash from these levels. There' lots of bad news already factored into this stock and today's move and potential reversal back up (it's at $46 as I write this) might make the stock worth a look. The stock has bullish RS in O's. Analyst's are expecting $5.91 this year (up from $5.58 last year), and $6.60 next year. JMHO of course. Bruce

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