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

To: lobster who wrote (1878)	3/19/1998 8:22:00 AM
From: wizzards wine	Respond to of 34802

Hi lobster, I just reviewed the chart. Once it reverses back into a column of X's, you'll have your 7th column to began the qualification process. From my understanding you do not get a signal until that column reaches 42. Tom's comment in the book, is that it usually takes some unknown news like a supprise earnings announcement ect... to flip the stocks demand. RS is still in a column of O's. If you know they will beat earnings estimates or are very sure, maybe. But both Jan ana Tom always seem to say, "let the stock come to YOU", and for this to happen, the chart needs to develope. Don't know what the odds are of a chart in this position getting that last X from 41 to 42. Perhaps you could get in now with very tight stops and try climbing up to complete the pattern, but I would guess you'd likely have your stop blown before getting the pattern set up. Just my thoughts Preston