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

To: Paul V. who wrote (664)	2/14/1998 9:01:00 AM
From: Allan Harris	Respond to of 34811

The last time the 10 Week BP crossed 70 was in May of 1997. It subsequently went to 86 before reversing down in July. The Semiconductor BP was in the 40s last May, on it's way to 78 before reversing down in August. At the same time, in May, AMAT was about 30, on it's way to 55 in August. My favorite in the sector, UTEK, was about 20 in May, on it's way to 34. As of today, both AMAT and UTEK have very bullish chart patterns, both through the eyes of P&F and standard bar charting, i.e.,, they are moving up from their January 1998 lows in a series of higher highs and higher lows. It appears from this analysis that both stocks have a long way to go up and unless this changes I would not try to trade in and out of them. I like uncomplicated analysis, that is what has drawn me to P&F. Trading is easier then we want it to be. Probably the single best trading book I've ever read is "Zen in The Markets, Confessions of a Samurai Trader" by Edward Allen Toppel. It is inexpensive and can be read cover to cover in about two hours. I think it could benefit everyone on this thread and is a fine compliment to Dorsey's work. You can only order it from the author: samuraitrader.com Allan, Zen Trader

To: Paul V. who wrote (664)	2/14/1998 11:14:00 AM
From: Ms. X	Read Replies (1) \| Respond to of 34811

Paul, Sent your question to Tom Dorsey. He is back in town and I thought I would put him to work. Don't want him going out of practice..Yeah, right! Paul V. You are right on the money with your analysis. You have studied well. Also, look at the number of times you see a 1 or a 2 in the tops in the NYSE Bullish Percent. Highly likely we make some sort of top this month and catch another downdraft to support. The rest of the year should be good. NO point anticipating, just thinking ahead a few moves in this chess game. As usual we will operate under the prevailing risk levels and leave the predicting to the Psychic Hot Line. Tom Dorsey