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

To: Jorj X Mckie who wrote (134)	1/27/1998 7:45:00 PM
From: Ms. X	Respond to of 34809

To break through a bearish resistance line or to violate a bullish support line, the box should be either one above or one below. Right on the line is trading at the trend line. Note: When considering calls or puts, the best time to buy is when the stock is trading AT the trend line. For example, shorting a stock: Stock XYZ is trading below its bearish resistance line. It manages to rally to the trend line (which we will say is 40). All indications is that the stock is still trading negatively and most probably will go down. (Of course you have all of the indicators lined up for a short). At 40 is where you want to initiate your positon. Same true for a call. If the stock pulls back to support (bullish support line) and all indications show the stock is still bullish. This would be the time to initiate the position. I'm not saying ABX is a short. Not enough indicators to support that idea. 22 will be a great signal to buy on a pullback to 17 for new positions. Talk soon, Jan