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Strategies & Market Trends : Point and Figure Charting

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To: Mr.Manners who wrote (20358)	5/25/1999 5:35:00 PM
From: Judy	of 34808

Kasha, all technical methods sometimes generate spurious signals caused by momentum and temporary news effects. Not all breakouts are successful nor sustainable. Market was at a short-term top, all earnings forward guidance was out, fears of inflation rising. With current inflation at less than 4 percent and bonds edging up to 6 percent, who in their right mind would want to be in volatile cyclical tech stocks like semis? The cyclical growth would would be stalled again should the long-bond edge over 6 percent and hold for any length of time. While the market whipsaws up and down and sectors rotate, I'd expect there to be spurious P&F buy/sell signals.

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