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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (21021)	6/10/1999 9:40:00 AM
From: Ms. X	Read Replies (2) \| Respond to of 34811

Hi Tim, Well, you know those sneaky sly 7th graders.. Pretty damn hard to beat. CYMI looks a little like WIND in the sense that it was trading below the BRL and following that line down. As a general rule; if you see a stock whose RS is in O's and it has a negative trend (trading below the BRL) you have to be even more critical of its movements and its potential movements. These stocks are highly volatile and can pull a head fake on you in a snap. Your clue is that BRL. See how CYMI keeps following it down never able to break it? It is uncanny how stocks will do this. Supply is in control until that pattern can be broken and it is best to wait for that pattern break. No point guessing. Currently it is in O's at a double bottom. A break of that double bottom at 18 would be very bad news and a stop on any positions. If it can manage not to break that bottom and reverse up to break the double top at 21 - which also breaks the BRL, you are cool on a trade position. I say trade because the RS will still be in O's most likely. With that break at 21 you now know that demand has taken over. Finally the stock was able to break resistance. This at least, gives you som assurance that the stock will move up, not down. CYMI looks like a good short at the double bottom break. Take care, Jan I am