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

To: Ms. X who wrote (21369)6/17/1999 11:13:00 AM
From: faqsnlojiks   Respond to of 34811
 
oh...just want me to prove it's not dumb luck eh??

lol!

Ok, I'll write something up.

-Joe



To: Ms. X who wrote (21369)6/17/1999 11:17:00 AM
From: Dana Johnson  Read Replies (1) | Respond to of 34811
 
I've been watching FCLX for quite a few weeks since it popped out in the pattern report at DWA. Bought some recently as the stock showed good relative strength and has demonstrated good support and resistance points. It is trying to break a double top today at $7.5.



To: Ms. X who wrote (21369)6/17/1999 4:11:00 PM
From: faqsnlojiks   Respond to of 34811
 
Jan, as you requested...here are the three stocks that have been
responsible for my rise in the contest. I've added a short bit about
why I like them, and included P&F charts courtesy of the DWA web page
(with permission from Tom). Please remember, I'm a rookie P&F'er, and
there is a large element of luck involved with my success with these
stocks. The loser's in my portfolio (UAL and PFE) aren't discussed
because obviously I haven't been proven right on them.

Here goes:

CNXT - Brought to my attention by another investor as a spin-off from
ROK, with a great product in the rapidly advancing telecom "chip"
business. I loved (and still love) the business this company is in.

Jun. 1st - 38 ½
Recent- 59
Gain % - 53.2

62
61
60 ----------------------------------------------------------------------------
59 X
58 X Top
57 X
56 X X
55 ------------------------------------------------------------X O X ----------
54 X X O X
53 X O X O X
52 X O X O
51 X O
50 --------------------------------------------------------X ------------------
49 X
48 X
47 X
46 X
45 ------------------------------------X ------------------X ------------------
44 X O X
43 X O X
42 X O X X X
41 X O X O X O X X
40 ------------------------------------X O X O 5 --X O X O 6 -------------- Med
39 X O X O X O X O X O X
38 X O O X O X O X O X
37 X O O X O O X
36 X O X O X
35 ------------------------------------X --------O X ----O X ------------------
34 X O O *
33 X *
32 X X *
31 X O X *
30 --------------------------------X O X ------------------* ------------------
29 4 O X *
28 X O *
27 X *
26 X *
25 ----------------------------X --X ------------* ----------------------------
24 X X O X *

As you can see, by Jun 1st, it had already retraced to fill the gap
that was established during its run from 32 to 45. This looked like a
good place to get in, and with a break of the double-top, I was
expecting that It might run. As you can see, I was right! :*)

ORCL - I've owned ORCL for quite some time now. My best buy-in is at
a split-adjusted 12.5. That was luck, and I've had some buys since
then that haven't been as good. On the non-TA side, I've always liked
them because they are the #2 software company in the world and 8 of
the top-10 websites are backed by ORCL db's. Now compare their PE to
that of MSFT.. what a value!

Jun. 1 price - 25 ½
Recent- 32.935
Gain % - 29.2

44 -------------------------+-------------------------------------------------
43 |
42 |
41 | X
40 -------------------------+---X O ------------------------------------------
39 | X O X X X
38 | 2 O X O X O X O
37 | X O X O X O X O
36 | X O X O X 3 X O Top
35 -------------------------X --X O --O X O X O ------------------------------
34 X O X O X O X O
33 X O X O O O X
32 X O O X
31 X O X
30 -------------------------1 ----------------O ----------------X ------------
29 X O X X X
28 X O X O X O X
27 X O X O X X O X
26 X O X X 5 X O 6 O X Med
25 -------------------------C ----------------4 X O X O X O X O * ------------
24 X O X O X O X O X *
23 X O X O O * O *
22 X O X * *
21 X O *
20 -* ----------------------B --------------------* --------------------------
19.5 * * X X *
19.0 X --* --X * ----X O ----X ----------------* ------------------------------
18.5 X O * X O * X O X X *
18.0 X O ----X O X * X A X O X ------------* ----------------------------------
17.5 O X X O X O X O X O X * Bot
17.0 --5 X O X O X O X O X O | --------* --------------------------------------
16.5 O X O X O X 8 X O X | *
16.0 --O X O X O --O X O X --+-----* ------------------------------------------
15.5 6 X 7 O X O X | *
15.0 --O ----------O X O ----| * ----------------------------------------------
14.5 O X *
14.0 --------------O X ----* | ------------------------------------------------
13.5 O X * |
13.0 --------------9 X * ----+-------------------------------------------------
12.5 O * |
12.0 --------------* --------+-------------------------------------------------
11.5 |
11.0 ------------------------+-------------------------------------------------
10.5 9 | 9
10.0 ----------------------8 | 9 ----------------------------------------------


A quad-bottom at 23, and bouncing of the BSL was the flags that told
me that this looked good on P&F. Rising bottoms also!

GNET - Go2net! Who doesn't love this one. Everyone knows that
type-1 Internets (see the Techride thread) always return to their old
highs, and the high for GNET is 199! Paul Allen just picked up a ton
of this, now owning 34% of the company. A baby in the Internet world,
but gaining quickly!

Jun. 1 price - 98.438
Recent- 115
Gain % - 16.8

210 |
205 |
200 ----------+-----------------------------------* ---------------------------
195 | X X *
190 | X O X O *
185 | X O X O *
180 | X O X O *
175 ----------+---------------------------X O X --X O ------* -----------------
170 | X O X O X O *
165 | X O X O X O X *
160 | X O X O X O X O *
155 | X X O X O X O X O
150 ----------+-------------------X O X --X O X O X O X 5 ----------------- Med
145 | X O X O X O X O X O O X
140 | X O X O X O O X O X O
135 | X X O O X O O X O
130 | X O X O X O X O
125 ----------+---------------X O X ----4 --------------O X O -----------------
120 | X O X O O
115 | X O X O X X
110 | X O * O X O X
105 | X * O X O X
100 ----------+---------------X ----------------------* ----O X O -------------
95 | X X * O X
90 | X O X * 6
85 | X O X *
80 | X O *
75 ----------+-----------X ----------------* ---------------------------------
70 X X X * Bot
65 X O X O X *
60 X O 2 3 O X *
55 X O X O X O *
50 ----------X O X O X ----------* -------------------------------------------
45 X O X O X *
40 X O O *
35 X *
30 1 *
25 ----------X --------* -----------------------------------------------------
20 X *
15 B *
10 9 | 9 *
5 8 | *

Frankly, didn't use a lot of P&F skills to pick this one. After all,
it's an Internet stock! <G> The Fundementals are what I like about
GNET, and I thought it was well worth the chance (with the double-
Bottom break) to go ahead and jump on it.

GOOD LUCK TO ALL!

-Joe


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