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

To: wizzards wine who wrote (3466)	6/8/1998 4:16:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 34811

EGADS I need to know if TXN has gotten a buy signal on the good news that they may be trying to sell their memory division this sucks when you have puts ;-) BOO HOO there were so many indicators to show TXN was a good short... thanks

To: wizzards wine who wrote (3466)	6/8/1998 6:18:00 PM
From: Bwe	Read Replies (2) \| Respond to of 34811

Preston and Judy.....I would be very careful with ASND right here. The stock has bearish RS, but on the positive side, the RS chart is currently in a column of X's so the current RS trend is up. The stock just had a high pole top at $43 and these formations are dangerous with the NYSEBP in bear alert territory. Chartcraft has found that high pole tops lead to moves below a previous bottom 80% of the time. That could mean a move below $40. As for the computation of ASND's vertical count upside target, I feel Preston's post needs clarification. The upside target is determined after the initial buy signal. Buy signals that occur after the first signal do not alter the upside price target. ASND gave a double top buy signal at $37 in April. Since the stock was coming off a sell signal in the column of O's before the column of X's that gave the buy signal, the completion of that column of X's was what was needed to determine the price objective. There are 12 X's in that column. Multiply 12 by 3 and that gives you 36. Multiply 36 by the $ value of each box which is $1 and you get 36. Now here's where Tom's method differs from Chartcraft's. Tom would take 36 and add it to the bottom X of the column of X's that gave the buy signal (X 33). That would give an upside target of $69. Chartcraft looks for the lowpoint from the last sell signal. In this case, there's little difference as the lowpoint was $32. Add 36 to the low point (O 32) and Chartcraft's upside target is $68. Little difference here in this particular case. However, I don't know how you arrived at $52 as ASND's upside target. Whatever the case, stocks with bearish RS coming off High Pole tops are dangerous at this juncture in the stock market. Just my humble opinion. Best regards, Bruce