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

To: Smooth Drive who wrote (25659)	2/7/2002 6:59:20 AM
From: Atin	Respond to of 34817

It was a royal pain to make the numbers per row like I do on the text charts but I'll think about it again sometime. Same for the rest of your suggestions - I'll look into 'em. Thanks, -Atin

To: Smooth Drive who wrote (25659)	2/8/2002 4:00:12 AM
From: Smooth Drive	Read Replies (2) \| Respond to of 34817

Hey thread - let's do some P&F stuff. First -- thanks again Atin. You're the KING of code pounders!!<g>. I'm an end of day shopper and all my purchases are in the days, weeks and months. One simple scan I use is to look at SP-500 stocks crossing their 20 or 50 dma on a 10% bump in volume. Today DIS crossed over the 20 and is looking interesting. The Chaikin is really outstanding. Look how long it's been above the 0 line. Don't like the price below the 200 dma though. DIS Bar Chart stockcharts.com[h,a]daclyyay[pb20!b200][vc60][iUc20!La12,26,9]&pref=G The P&F has a nice triple top breakout at 21 and a price objective of 33. Support at 18 and 15.5 and major trendline resistance from the Bearish Resistance (BRRL) and Bullish Resistance lines (BLRL) in the 27 area. So a buy at 22.75 and a stop at 19.5 has a R/R in the 3/1 area. DIS P&F Chart stockcharts.com[PA][DA][F!3!!]&pref=G HIG also popped over the 20 tonight on increased volume and is sitting right on the 200. Nice MF and candle. HIG Bar Chart stockcharts.com[h,a]daclyyay[pb20!b200][vc60][iUc20!La12,26,9]&pref=G The P&F is a very interesting pattern. The price objective off the bottom is 85. Notice how it went up and formed a double top and then gave a sell single -- and Hello -- what's this, at the Bearish Resistance Line no less. Is this an almost perfect shakeout? Many would discount this sell signal and go with the original po. Support at 60 and trendline and horizontal resistance at 70. A buy at a full reversal up at 66 and a stop at 62 has the R/R at apx. 4.5/1 HIG P&F Chart stockcharts.com[PA][DA][F!3!!]&pref=G There were a few stocks crossing their 50 dma today that show some possibility. K had a nice candle and look at yesterday's hammer. Nice MF too. K Bar Chart stockcharts.com[h,a]daclyyay[pb50!b200][vc60][iUc20!La12,26,9]&pref=G K's P&F has a good base but the po is only 40. Support at 27.5 and resistance at 33. So a buy at 31.5 with a stop at 27 has a not so good R/R at 1.8/1 K P&F Chart stockcharts.com[PA][DA][F!3!!]&pref=G ZION has just popped back above the 0 line on Chaikin's MF and has now crossed the 20 and 50 dma's. I don't like it below the 200 but right now -- ya gotta jump on them 5 1/2 inch trouts to make them legal. ZION Bar Chart stockcharts.com[h,a]daclyyay[pb50!b200][vc60][iUc20!La12,26,9]&pref=G ZION's P&F has a nice double bottom at (what the hell is that number??? I can't figure if it's above or below the line<GGG>). Well I think it's 43. Clean price objective of 64. Support at 49 and resistance at 53 and big big big time at 59. Buy at 52.05, stop at 48 for a R/R of 2.9/1 ZION P&F Chart stockcharts.com[PA][DA][F!3!!]&pref=G Now -- this is for P&F discussion and fun only. You can rest assured that all the above stocks are going to turn the other way a free fall<g>. These are not buy or sell recommendations. Do your own DD. So -- are price objectives of possible help in considering a stock? I have no idea why they work. But they work more often than they fail. I would never consider purchasing a stock without knowing its P&F price objective and R/R. Take care, Eric