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

To: Judy who wrote (566)	2/10/1998 4:56:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 34811

Hi Judy, Looking at HWPs chart it seems to be very unsure of where to go. Trading band between 60-65. Relative strength is positive but there too, it doesn't seem to be moving much. Daily momentum has managed to flip positive but weekly mom is still negative. Personally, I would want to see HWP break to 66 to show it is out of this trading band. Stop of 59 a spread quintuple bottom break. Nice move on Amgen today. Broke a spread double top. Next resistance at 59. Vertical count gives it 68 (this is approx since I don't have a reversal on this current column of X's). Would like on a pullback to 53. Short term stop of 49. Lowest support at 45. Mot is just sitting at 65, no movement up and no reversal down on its chart. Next resistance at 67. RS is weak so I would suggest buy on pullbacks only. Risk reward isn't the best at this price. Next bottom break is at 53, 12pts from here. If bought now I would have a tight stop initiated. It did break bearish resistance but it has stalled for some reason. Tomorrow will be interesting with AMATs returns. TSK looks strong. Large runup so pullback would be best. Far above bullish support line. RS strong, momentums strong. Next resistance at 49. Vertical count gives it 56. CPQ isn't moving much. Can't complain it hasn't gone down. What did you think of AOL today? Right at the time I said to myself "I should just short this because I'm in the mood" it started to go down.