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Strategies & Market Trends : Point and Figure Charting

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To: Ms. X who wrote (16914)	4/7/1999 8:40:00 PM
From: Don Pueblo	Read Replies (2) of 34811

My (non P&F) chart says no problem to 4. There was a block of 23,000 shares offered at 3 late in the day, that's why the stock closed where it did. I suspect that was a limit GTC order that somebody threw in several days ago. If that block is gone tomorrow on the open, whoever wanted out at 3 has either told the broker to break it up or changed his mind. A break through 4 would indicate the day traders have latched onto it. BTW, looks like iTurf.com will be priced tomorrow, and probably go out on Friday. It was originally indicated at 10-12. If they bump it at all, it should give DLIA a boost. The problem is that if iTurf goes on Friday, it will probably be extra volatile. My experience has been that if an IPO goes on a Friday and the market is negative at that point in the day, it's dangerous. But if the deal gets bumped up in price tomorrow, it should boost DLIA short term. Check the charts on OTEX when it spun off MINE to see what can happen if things go right.

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