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

To: Jorj X Mckie who wrote (1000)	2/23/1998 2:06:00 AM
From: Jorj X Mckie	Respond to of 34811

Hi Gang, Buddy of mine who is keen on auto racing asked me to find him a stock that fit into the category. This was based on his personal observation that events are booked solid for 3 years and new raceways are being built in a number of cities. I found Speedway Motorsports (TRK) and it actually looks decent. It broke a triple top in Dec. and then a spread triple this month. It is trading above BSL and the BSL seems to be pretty solid support. It is in the leisure sector which is Bull Confirmed 42+. It apparently has posted record earnings for three years straight. Any other info/interpretations would be appreciated. Since I just bought another Cannondale bike (BIKE)(3 in my garage at this time), I thought I would look at the stock as well. Looks like it is consolidating between 21-23. It broke through BRL in January, but not very decisively. It has since pulled back and would need to hit 24 to give a buy signal. It is also in the leisure sector. My chart reading abilities get taxed on this chart, I can't tell if it is above or below BRL/BSL. Jan or Ben, could you give me a read? Thanks, Tom

To: Jorj X Mckie who wrote (1000)	2/23/1998 8:54:00 AM
From: Ms. X	Respond to of 34811

Congratulations Tom! You are our 1000th shopper! Tell him what he has won... SUNW may be trying to work on a bear trap. Not yet though. See, now I think saying "usually" or "may" is kinda the same thing in this context. So there. :-)

To: Jorj X Mckie who wrote (1000)	2/23/1998 9:29:00 AM
From: Ben Antanaitis	Read Replies (2) \| Respond to of 34811

Tom, I think the SUNW trap has sprung, but will only get 'confirmed' when it sees 52. That level it bounced off of was a nice 'interior' bullish support line started at the low point last October. (Interior support/resistance line defined as one that is above/below the long term bullish/bearish support/resistance line that defines the overall bullish/bearish trading channel limits.) I'll try to get to BIKE. Ahem, down here is the South, we don't consider Racing (that's NASCAR to you, Sir!) as a leisure activity.... it's big, BIG business. That particular stock issue is the pet of Bruton Smith the owner of the Charlotte, Atlanta, Texas, et al (that's Latin for 'and others', boy.. not what the gator did during Al's last fishing trip) Motor Speedway's. Typically the events are sold out, for seating, three to six months ahead of the event day. We're talking 100 thousand+ seating capacity facilities here. Concession and souvenir sales are phenomenal. With a mix of the Classic stars like R.Petty ('The King', to you..) and newcomers like Jeff Gordon there is no sign of any kind of de acceleration in interest. The industry seems to be gradually phasing back the old, obvious linkage to tobacco monies and ties. With the introduction of sponsors like Tide and Kelly Girls and Leggs, the fan demographics are widening. Ben A.