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

To: Bwe who wrote (2829)5/6/1998 10:35:00 PM
From: Ms. X  Respond to of 34811
 
Hi Bruce,
I think UAL is going to have a tough time during this sector rotation. I hope that U holds up well. Did you do anything to hedge or cover your airline positions? Have you looked at the index? An RS sell is a pretty serious sign especially coming this soon into the sector correction. DAL would be the next concern but I agree that UAL is in the most precarious position.

You probably know the 10 week reversed up which was a tribute to the rally we had last week but the momentums are still down. It will be interesting to see what the next few weeks bring. I get the feeling the market is hanging on for dear life. I fear the ground is falling beneath it however. I haven't seen a time when the optional bullish percent reversed without being followed by the NYSE BP have you?

If the OPTIBP did reverse back up at these extended levels, I would be concerned what the next reversal down would bring.
These are just thoughts churning in my head. The market may be looking for a reason to correct instead of valuation.

I hear in after market, oil is down another .18. This may bring a great buying opp in oil and oil service as I believe these are still one of the best sectors to be in. I'm long CHV and VRC and may consider adding to my positions on any relief.

I just hope Mr. Jones isn't mortgaging his house right now to jump in to the market. I've been hearing on CNBC they consider a 1% move to the downside a correction and a time to buy "on the dip". Am I the only one scared by that statement?



To: Bwe who wrote (2829)5/6/1998 10:54:00 PM
From: Jack Chen  Respond to of 34811
 
I own some UAL too, I am not worry, these big stock will always bounce back, time is on investor's side, I am looking to average down around $78, I think when I average down UAL at $78 is also the good time to buy some AMR, I guess AMR good entry is $140, it will split in a month in early June. FDX is a good one too, it provides good support at $64.



To: Bwe who wrote (2829)5/6/1998 11:20:00 PM
From: Ms. X  Respond to of 34811
 
Bruce,
I'm speechless and thinking a short is in order...I'm sure you know who this is..
KTEL. Insanity, really.

80 -------------------------------------------------
79
78 X
77 X O
76 X O
75 ---------------------------------X O ------------
74 X O
73 X O
72 X O
71 X O
70 ---------------------------------X O ------------
69 X O
68 X O
67 X O
66 X O <--Today's close price
65 -+-----------+-------------------X O so it will most likely be
64 | | X O in X's tomorrow
63 | | X O
62 | | X O
61 | | X O
60 -+-----------+-------------------X O ------------
59 | | X O
58 | | X O
57 | | X
56 | | X
55 -+-----------+-------------------X --------------
54 | | X
53 | | X
52 | | X
51 | | X
50 -+-----------+-------------------X --------------
49 | | X X 5
48 | | X O X O X
47 | | X O X O X
46 | | X O X O X
45 -+-----------+-------X O X O ----X --------------
44 | | X O X O X
43 | | X O X O X
42 | | X O X O X
41 | | X O O X X
40 -+-----------+-------X ----O X O X ---------- Top
39 | | X O X O X
38 | | X O X O X
37 | | X O X O X
36 | | X O X O X
35 -+-----------+-------X ----O X O X --------------
34 | | X O X O X
33 | | X O X O
32 | | X O X
31 | | X O X
30 -+-----------+-------X ----O X ------------------
29 | | X O X
28 | | X O X
27 | | X O X
26 | | X O X
25 -+-----------+---X --X ----O X ------------------
24 | | X O X O X
23 | | X O X O
22 | | X O X
21 | | X O X Med
20 -+-----------+---X O X --------------------------
19.5 | | X O
19.0 +-----------+---X ------------------------------
18.5 | | X
18.0 +-----------+---X ------------------------------
17.5 | | X
17.0 +-----------+---X ------------------------------
16.5 | | X
16.0 +-----------+---X ------------------------------
15.5 | | X
15.0 +-----------+---X ------------------------------
14.5 | | X
14.0 +-----------+---X ------------------------------
13.5 | | X
13.0 +-----------+---X ------------------------------
12.5 | | X
12.0 +-----------+---X ------------------------------
11.5 | | X
11.0 +-----------+---X ----------------* ------------
10.5 | | X *
10.0 +---X ------+---X ------------* ----------------
9.5 | 3 O | X *
9.0 2 --X O ----+---X --------* --------------------
8.5 X O X O 6 | X *
8.0 1 O X O X O 1 --X ----* ------------------------
7.5 X O X O X O X O X *
7.0 X O --O --9 X O X * ----------------------------
6.5 C O X 4 *
6.0 X --------A * * --------------------------------
5.5 X * |
5.0 X ------* --+-----------------------------------


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