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Strategies & Market Trends : P&F Gatherings
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To: freelyhovering who wrote (260)5/15/1999 10:36:00 AM
From: Ben Antanaitis  Read Replies (1) of 2909
 
Myron,

You count the full column when doing PO counts.
So it's a 14 box column x 3 + the low price from the preceding column ie 14x3+27 = $69.

BUT, this PO is higher than the Bearish Resistance Line (BRRL) so the PO target is suspect until and if the BRRL is penetrated on volume. I would get very cautious if the price gets near the BRRL ie very tight stops.

Ben A.

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