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

To: waverider who wrote (72)	1/23/1998 11:36:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 34808

OK, Diamond, I'll do CDG for you. I am doing some oil serv stocks that have held up well during the downdraft but the research will take some time. Probably up tomorrow. But for you, I'll do CDG. Current low on CDG was 36 but the stock rebounded to 46 before reversing down again to 40. If the stock holds here and reverses back up we have a higher bottom than before. This shows demand is coming in. In other words, for some reason it isn't selling to its lows. We don't know why, we just know it isn't. I would like to see it reverse up here and give a buy signal at 47. This would exceed its previous level of resistance. If wanting to initiate positions, you may want to wait for the buy signal or even a series of higher tops and bottoms. The relative strength did reverse down during the downdraft but it seems to be firming up. A reversal in the relative strength would show the stock is starting to outperform the market. We are in the early stages of the upside reversal in oil services. Important to watch stocks and see how they perform. Some will be slower off the block but I think CDG will respond nicely to the upside reversal. Glad to have you join us! Oh, charts. I use Dorsey Wright for all of my charts, bullish percents etc. You can find them at dorseywright.com. You will have to sign up for a trial to receive the charts. Great site, great information.