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

To: Judy who wrote (3389)	6/4/1998 10:08:00 PM
From: Bwe	Read Replies (2) \| Respond to of 34811

Hi Judy. Though Preston gave you BAY's p&f essentials, today's strong action in the stock put the stock in a "Bearish Signal Reversed" pattern. Bay fits every criteria needed for the pattern: -Seven columns. The following indicates the highs and lows for each succeeding column (X 35), (O 24), (X 30), (O 22), (X 28), (O 25)<--didn't carry below (O 22) but does not invalidate the pattern -Each column of X's lower than the one before and each column of O's lower than the one prior (except as noted above). This indicates increased selling pressure. -Here's the catch, the reversal, the change in the supply/demand relationship. Today the stock reversed up and gave a double top buy, "breaking the spell" as Tom puts it. The lower tops have been exceeded and the pattern sends an important technical signal about a forthcoming fundamental event the average investor is not aware of yet. In his book, Tom believes that insiders are usually operating at this point. This pattern has the highest probability of success at 92% with an average gain of 23.2% in just under 2 1/2 months. If things don't work out, an 8% probability, the average loss from here would be 10% in 1 1/2 months. Oh, I forgot to mention, the bearish resistance line was broken at $31 as well. Judy, it looks like you've got a good one here. Good luck. Bruce

To: Judy who wrote (3389)	6/4/1998 10:55:00 PM
From: Ms. X	Respond to of 34811

AOL- Sorry, I posted the wrong stop point for shorts! So sorry everyone. Recently I said that AOL would break a double top at 81 and that was incorrect. 85 would be the double top and stop on any short trades. As it is now, the stock has rallied up but is still on a sell signal. The momentums with the exception of the monthly, are still negative. Still a viable short until the break at 85. Vertical count gives it 65 but I see good support at 70/71. You may choose to make this your price target if short. If wanting to go long, wait for demand to be in control. A couple of buy signals and higher bottoms preferred. 94 93 92 X 91 X X O 90 ------------------------------------------X O X O X -------------- 89 X O X O X O X 88 X O X O X O X O 87 X O X O X O X O 86 X O O O X O 85 ------------------------------------------X --------O X O ----<--Stop point 84 X O X O X 83 5 O X O X O 82 X O O X O X 81 X O X 6 X 80 ------------------------------------------X ------------O --O X -- 79 X O X Med 78 X O X 77 X O X 76 X X O X 75 ------------------------------X --X O ----X ----------------O X -- 74 X O X O X X O 73 4 O X O X O X 72 X O X O X O X 71 X O X O O <--Good support 70 ------------------------------X O -------------------------------- 69 X