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

To: Mr. BSL who wrote (3158)	5/26/1998 10:09:00 AM
From: wizzards wine	Read Replies (1) \| Respond to of 34811

Morning Duke, I've just finished running through the Oil Service sector.... Looks like blood letting. The sector just reversed down into a column of O's but has not given a sell signal yet. In looking at a broad cross section of the stocks making up this sector, we find most of them are or have pulled right down towards support at the bullish support line. Of the 30 I looked at, FLC, MDCO, RON, and SII have violated the bullish support line and dropped below. There may be others that I did not look up. As we have seen in the past and for no good reason, this group has been following the Oil sector which has also reversed down into O's last week. This is the fourth pull back since the buy signal for the Oil Service sector in February. Could be just that a pull back, but I'd like to see a new X and not any more O's as we could get a Sell signal with a drop of 3 more boxes. Perhaps Princess Jan will critique my observations??? Jan Where are You??? Later Preston