Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Bwe who wrote (3863)	6/18/1998 9:15:00 AM
From: james ball	Respond to of 34818

Bruce you are dead on it. It is also interesting to note something about my good friend Mike Burke the Editor of Chartcraft. He is the first one years ago to predict 5% interest rates. This was in an environment where everyone was talking about higher rates. Mike has made many dead on predictions in the market. He is one of Wall Streets all time greats. keep up the good work Bruce. Tom Dorsey

To: Bwe who wrote (3863)	6/18/1998 9:20:00 AM
From: ViperChick Secret Agent 006.9	Respond to of 34818

thanks bruce that is exactly the kind of info I was looking for

To: Bwe who wrote (3863)	6/18/1998 10:31:00 AM
From: Ms. X	Read Replies (1) \| Respond to of 34818

Hi Bruce, Thank you, that was a good point to bring up. As with sectors, you must take in consideration your field position. If you are in the 40% area and reverse down you can liken that to a pullback on a stock that has been in a nice uptrend giving many buy signals. If you reverse down in the 70% area you know your risk level is high and this is a time possibly to hedge. The NYSE BP does not often move below the 40% level and we are at an area it has bottomed before. I would put in my own impression that I'm surprised it moved past support this low on the chart. Lately it has held during declines but not this time. Just my thoughts as our beloved Preston would say ....