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Strategies & Market Trends : Point and Figure Charting

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To: james ball who wrote (14774)	2/28/1999 2:31:00 PM
From: contax	Read Replies (1) of 34824

Hello Tom, Have just recently started to get into P&F and so far have found your system very intriguing. Also your willingness to share your time on this thread to teach and to hold hands during periods of uncertainty is not only quite helpful but also very admirable! Thank you. I would like to point out a similarity in the recent market activity to the one just before the markets' move up around the 8th. of October of last year. Your input would of course be greatly appreciated. I remember watching CNBC in those dog days of October and everybody was perplexed by an obvious paradox: In that sea of doom and gloom, with all the indexes competing against one another as to which one could make the steepest swan dive, the brokerages' stocks' price(s) suddenly, as if on cue, started to take off. Bob Pisani and others rounded up some of the bigwigs from the various brokerage houses and grilled them about this anomaly, but they all took the Fifth. Hindsight being 50-50, that of course was *the* Buy signal of October 1998! The same is again true today! Am I reading too much from this move? Regards, Karim

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