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Strategies & Market Trends : Point and Figure Charting
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To: quote 007 who wrote (14354)2/21/1999 1:33:00 PM
From: Gwolf  Read Replies (2) of 34816
 
I just looked at RMBS that Tom said to take a look at, it's very interesting and is maybe why Tom is cautious on Pole formations. The stock recently dropped from 86 to 74 and the rallied back up to 83 thereby forming a low pole. If you would have bought it at a recovery of over 50% at say 81 thinking that was the low for the stock you would have then experienced another plunge to 61. I have the feeling this is why Tom says they are a warning and doesn't go hog wild without looking at all of the other indicators. That would be my guess but what do I know. Like I mentioned before maybe Tom could give us his thinking.

Gwolf
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