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

To: Paul V. who wrote (1047)	2/24/1998 10:39:00 AM
From: Ms. X	Read Replies (2) \| Respond to of 34816

Hi Paul, I don't believe Tom has ever mentioned which count is most reliable. I see the vertical count in his reports most often. I think both are effective. You are right on your analysis of AMAT is correct but the count is a little off. Horizontally, You look at the size which is created by consecutive columns without a break. In this case we have 6. 6x3 = 18. We use the bottom set of O's before the upturn which is at 26. 26+18 = 44 Vertically, we know the bottom O's is at 26 so we look at the column of X's to the right and count which equals 7. 7x3=21+26=47. Price target is in that area. Remember, if it should happen to break another double bottom, we can start a new count on the next reversal up with a double top buy. Hope this helps and I was clear in my explanation. Jan