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

To: edward miller who wrote (22366)	7/14/1999 12:29:00 PM
From: Augustus Gloop	Respond to of 34811

Here would be my read....I'm a rookie so take it FWIW. The stock needs to take out 5.5 to break a spread quad top @ 5 that dates back to the start of the year. If it does that it looks to me like the next area of resistance is at 6.5. By taking out 5 it has already broken a double top created at 4.75 in june. I'm not sure if we have enough columns to say this is a true breakout from a double top but if we do a double top offers this as statistical probabilities. Profitable = 80.3% of the time Ave gain = 38.7% Time 11.5 months FWIW

To: edward miller who wrote (22366)	7/14/1999 3:03:00 PM
From: Ms. X	Read Replies (2) \| Respond to of 34811

Hi Ed, The PO for CORL is 9. Here is how you come to that number. 5.0 X * X --2 * --------X 4.75 X O X O X O * X X 4.50 X O X O X O --* X O X 4.25 1 O X O X O X O 7 4.00 X O X O --3 ----X <---Here is the buy signal at 4 3.75 X O Sell->O X X O X 3.50 \| --------O X O 6 O 3.25 \| O X O X 3.00 \| --------O X 4 X<--You take your count from the first column of 2.75 \| O X O X's that creates a buy signal after the last 2.50 +---------O X - sell signal. Count that row. In this case the 2.25 \| O X count is 8. Formula below. 2.00 +---------O <--This is the column that gave the last sell signal. Formula: 8 x 3 (for the three box reversal) = 24 24 x .25 (The box size is .25)= 6 Add 6 to the bottom of the column of X's (the one's you counted) which is at 3. 6 + 3 = 9. That is the momentum of the stock. Serious resistance at 5 and a break of that to 5.5 would be very positive. Buying on a pullback is recommended. 4 would be good. Best of luck - hope this made sense, Jan I am