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Strategies & Market Trends : Point and Figure Charting

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To: Jack of All Trades who wrote (19798)	5/12/1999 11:04:00 AM
From: Ms. X	Read Replies (3) of 34816

Hi Jeff, A lot of stocks that are overvalued continue to make new highs. We have seen this with the internuts et al, and probably can find many instances where the fundamentals just didn't match the market action. To the upside and the downside. Technicals give you a chance to see what the market is doing with the stock in spite of the fundamentals. You are probably dead right about the fundamentals but technically, the stock is very strong. I don't see the stock moving lower, to a degree that a short would be profitable, any time soon. Just about everything technically is against you. SANM just broke a nice pattern and can continue up. I notice today it went as low as 72 7/8 which isn't even a reversal on the PnF chart. Be very careful with you short. Remember you can be absolutely right on the fundamentals but you should consult the technicals to make sure the market supports you analysis. Take care, Jan I am

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