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

To: Ms. X who wrote (2813)	5/6/1998 9:09:00 PM
From: Bwe	Read Replies (3) \| Respond to of 34811

Your short of the airlines is looking good, Jan. I own two airlines, UAL, and US Airways, and today, UAL gave an RS sell. I own the airlines in my investment club account for a few reasons, one of which is a sort of natural hedge against my oil service stocks. The Transports gave a p&f sell yesterday and Oil Service moved to X-64 from X-60. A trader would've been out of U at the high pole top at $75, but I like U long term and the stock is still above it's bullish support line with bullish RS. UAL is another matter and I have to take a close look at that one. I'm not thrilled about holding stocks with bearish RS and I'm not as optimistic long term with UAL as U. Oil continues to be weak, down another $.10 today. News is that Iraq is pumping oil like crazy in their oil for food swap. The Investor's Intelligence sentiment reading today is a bit less cheery, which is good news. The bullish advisors were down from 53.3% to 47.5%, while the bearish advisors became a tad more bearish moving up to 24.6 from 23.5%. This lack of pessimism hit a 5 year low in the beginning of April at 22.6% and that's a caution flag if I ever saw one. Looking foward to hearing from you and others on the board. Bruce