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

To: wizzards wine who wrote (21423)	6/19/1999 12:38:00 AM
From: Smooth Drive	Respond to of 34811

Hello Preston, Well that post of mine sure generated a great deal of discussion and other risk management ideas/questions.<g> I'll stop there. Regarding "Nice approach, yet I would have bought on the pull back at 81 with a stop of 79 and the factored in the sell stop..." The trouble I've had with buying at a point like 81 -- is the chart is going the wrong way!! I've had too much pain trying to guess where/when it will reverse up, and have ridden'em down to my stop more than I care to remember. I pretty much always wait now for a positive reversal before buying. The few times I do buy on a pullback (while still in a column of O's) is when it's within a box or two of the Bullish Support Line, and then I set the stop at the true penetration of the BLSL. Thanks for your comments Wiz. Take care, Eric