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

To: ViperChick Secret Agent 006.9 who wrote (1322)	3/2/1998 4:02:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 34814

Here is what Intel has done. It rose to 90 and then retraced to 83. This set up support at 83. It then reversed back up to 95 and has now retraced to 89/88 depending on where it traded today. Previous bottom at 83 so 86 is only three points from there. I would use 82 as my stop point because that would be a double bottom break sell signal. This is for short term trading. Those longer term may want to give Intel more room which is fine. Here is what the chart looks like. 95 X 94 X O 93 X O 92 X O 91 X O 90 X X O <--To here on Friday 89 X O X O 88 X O X O <--Todays action 87 X O X ? 86 X O X ? <--Nice entry point 85 X O X 84 X O X 83 X O 82 X <--Double bottom break and stop loss at 82. 81 X 80 X