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Strategies & Market Trends : Point and Figure Charting

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To: Kona who wrote (15427)	3/10/1999 3:27:00 PM
From: Ms. X	Read Replies (1) of 34811

My book is at home, if you have the time can you expound on high poles a wee bit? They're really tall... Oh, that isn't what you meant. High Poles are usually 20 boxes or more. In the case of your stock it isn't at that count but it has moved up sharply without a reversal. It is also coming up against the top of its trading band and we usually expect a pullback at that point. A 50% or more retracement from the top of the high pole can be viewed as a negative. Some use a three box reversal off the high pole as a trade stop. Reason is, the stop point would be too far down to be valid for any trades. Of course if you are long term, you need to set your loss percentage and have a stop set. High Poles aren't negative but you have to watch them, especially with the market the way it is. Remember, that often a reversal will come at the high pole and then reverse back up. This sets a closer stop. Good to re enter if you stopped out and want to get back in. All tricks of the trade. You can also do a covered write at the top of the trading band if being called from the stock isn't a concern for you. Lot's of things. Jan I am

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