Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Teddy who wrote (2250)	4/5/1998 9:59:00 AM
From: Ms. X	Read Replies (1) \| Respond to of 34811

Teddy, NE is still looking good but we still want a pullback. Take a look at the chart. See where it has extended itself to resistance almost to the top of the trading band. Pullback to 28 would provide a better risk reward. If the market risk were less we might say go ahead and then add on pullbacks but the market is very extended right now. Even though oil service is one of the better places to be, you still want to stack things in your favor. NE is definitely one to consider in this group...Jan I am 39 * \| 38 X * <--Resistance 37 X X B O * \| Top 36 X O X O X O * \| 35 ---------------------X O X O X O ----* --------+------------------ 34 October '97 -->A O X O X O X <--Resistance 33 X O O X O X O X <--Resistance ---> 4 32 X X O X O X O C O * \| X 31 X O X O X O O X O * \| 3 X 30 -------------8 --9 O X ----O ------O X O X --X * --------X O X --- 29 X O X O O O X O X O X 2 X O X 28 X O X O X O X O X O X O X O X <--Still good pullback and buy point. 27 X O X O * O X O X O X O X O X 26 X O X * O 1 X O O * O X 25 -------------X O X ------------------* --------O X ----* --O X --- 24 7 O * O X * O <--Shakeout. 23 6 X * O X * <--Stop loss 22 X O X * January low-->O * 21 X O X * * 20 ---------X O --------------* ------------------+------------------ 19.5 X * \| 19.0 X ------X ------------* ----------------------+------------------ 18.5 X O X X * \| Bot 18.0 X O X O X --------* --------------------------+---------------------------