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

To: Jorj X Mckie who wrote (542)	2/10/1998 8:05:00 AM
From: lobster	Read Replies (1) \| Respond to of 34811

Ron, Personally, on INTC I am waiting for the next buy signal(91) before taking new positions. I would normally wait for a pullback, but with the way the stock is acting, I am going to buy half of my normal position on the buy signal and half on a pullback if we get one. On RON, I am probably going to take a position in it this morning. To me all of the indicators are saying buy. Yes it is on a pullback, but that is what I want. If I am doing my vertical count correct(50/50 chance on that), I am arriving at a price target of 72. If I am wrong on the buy, I would use 49 for a stop loss, violates double bottom or if I wanted to give it a little more room to work, I would use 48 which violates a spread triple bottom. With offense on the field, I will use the lower stop loss. Also, you say you care about a few stocks, remember to let point and figure help take the emotion out of the equation. Emotion can and will lead to lost money. Remember, a stock is a stock is a stock.... Also, do not take my thoughts as the end word on intc and ron, I am still learning point and figure and the above is the way I read the charts. Later, Lobster p.s. see everyone at the chat tonight(go to message 535 for time and directions).

To: Jorj X Mckie who wrote (542)	2/10/1998 11:12:00 AM
From: Ms. X	Read Replies (1) \| Respond to of 34811

Hey Tom, How silly since I own those stocks too. Guess I was going off the newer additions to the thread. CDG: Hasn't moved on the chart since its last spread double top buy at 47. Still looks good. SLB: Trying to get some historical data on stocks creating such a large base. Huge base on SLB, almost scary. I'll report when I find out. GLM: Still hasn't broke that 26, spread triple top. Hanging out at 25 at resistance. MU: Traded right up to support at 38 then retraced to 34. Nice pullback. Still below bearish but at least the RS had reversed up. Just backfilling I think. INTC: Seems to have found a home here. May create a base but that is a guess on my part. You could add partial positions on the reversal to 89 and then wait for the next buy signal to buy on a pullback from there. (bad sentence but I hope you understand it). Take care, see ya at the chat... Jan