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

To: Judy who wrote (268)	2/1/1998 11:05:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 34811

Hi Judy, The only positive thing I can find for HWP at this point, is that the sector may reverse up soon. Computer sector is still in a column of O's however, it is only 2% away from a reversal up. HWP looks to be trading between 60-65. It currently is sitting at a spread quadruple bottom at 60, 59 breaks this support area. In fact it just broke a double bottom at 60. Relative strength is in a column of X's but doesn't seem to be strengthening. Daily, weekly and monthly momentums are negative. A move to 57 breaks all near term support adn would be the stop point. HWP doesn't impress me. First good move to the upside would be 66, a double top buy signal and would turn the daily momentum positive. If Lucent moved to 83-84 I would definitely be a buyer. In fact that would be a fabulous pullback opportunity. Stock looks great and sector is good too. First sign of trouble for LU is at 74, a double bottom break and violation of the bullish support line. By the way, the bullish percent for OTC just reversed up. This indicator usually leads the NYSE bullish percent. The NYSE bullish percent is still down but very close to reversing up. This could be the start of a rally. I'm keeping an eye on it and will let you know as soon as the NYSEBP reverses up. What do you think of Dell? Too extended? Cisco going strong too. I'd like both on a pullback. All the best, Jan