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

To: Bull4Now who wrote (367)	2/4/1998 9:16:00 PM
From: Jorj X Mckie	Respond to of 34811

Hey Bull4Now, I know that you want Jan's input, but since I just sat through a Yurie presentation, I'm in the mood.... YURI actually doesn't look too bad. It recently broke through bearish resistance, though it has a double top resistance at 25. If it hits 25 it would be a bullish sign. I'll let Jan handle the rest. Tom

To: Bull4Now who wrote (367)	2/4/1998 10:46:00 PM
From: Ms. X	Read Replies (2) \| Respond to of 34811

Almighty Bull for now... NT: Trading above its bullish support line, it is off its highs and seems to be trending down. It just gave a double top buy signal after a double bottom sell signal. Could break this downtrend movement if it can break resistance at 49. Chart is a little disorganized. Relative strength is strong and the daily/weekly momentums are positive. LU: This is on a high pole warning. Meaning it has run up awfully fast. Trading at all time highs. RS, momentums and trend is positive. Sector good too. Wouldn't buy unless I could get a decent pullback <IMO> ORFR: Couldn't find in my database, terribly sorry. Those responsible have been sacked. TSEMF: Trading way below bearish resistance line and in a column of O's. Last signal was a sell signal. Next buy off the bottom would be at 12 and we would call this a bottom fish. RS is negative and on a sell signal. YURI: Breaks a double top and bearish resistance at 25. This is a good signal. Rs is in a column of O's but the last signal was a buy signal. Daily and weekly momentum positive. Making higher bottoms too. Looks like it is improving nicely. KRB: Just broke out of consolidation between 25 and 30. Trading above its bullish support line the RS is positive and on a buy signal. Finance sector is at 52% and usually tops around 70%. Move to 34 turns the daily momentum positive. Would wait for a pullback to 29 for purchase <IMO> *disclaimer 548. :-) Those that have run up.. MSFT, AOL, DELL all will pullback at some point, it happens. When I don't know but eventually the buyers are in and all that is left is to sell. My personal guess is we should have some pullbacks soon. The market: When the market was last at these levels, the sectors were all over 50% and mostly in the 60-70% overbought area. Currently, most sectors are at the 30-50% oversold/normal range and some still in the overbought area. The NYSE bullish percent just reversed up indicating a rally. This reversal came at 58%. The high for the NYSE seems to be at 74% and the norm seems to be 62-68%. This reversal up came after a 5% move in the market. So, what am I saying? If we are at 58% now and the norm is 62-68%, that gives up about a 10% move to the upside. Again, this is my opinion but I, myself, wouldn't be buying with unbridled enthusiasm. I would keep stops in place and make sure the FA and TA are firmly in place. Have fun, buy the good stuff and mind the bullish support lines.... Jan