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

To: wizzards wine who wrote (697)	2/16/1998 2:34:00 PM
From: Ms. X	Read Replies (2) \| Respond to of 34820

Hey Preston, Vertical counts, eh? Moving right along! OK, FGII: What you need to do is look at the very bottom it created, which is 19.5. We count the column of X's that runs from 20 to 28 to the right of the O's that created the bottom. That is 9 X 3 = 27 x 1(1 is the box size) = 27. Then we add the 27 to the bottom number of 19.5. 19.5 + 27 = 46.5. This is the price objective. If the stock gives another sell signal THEN rises back into X's, we can assume a new bottom is being created. At that time we can start a new count. CREAF: The bottom is 15.5. The next column of X's moves from 16 to 20. That gives us 9 boxes. 9 X 3 = 27. 27 X .5 (box size is .5 below 20) = 13.5. Add 13.5 to the bottom 15.5 and we get a price objective of 29. Again, if it creates another sell signal and then reverses we can start another count. Hope this helps. Jan