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

To: Ms. X who wrote (3867)	6/18/1998 11:13:00 AM
From: james ball	Read Replies (4) \| Respond to of 34821

from Tom Dorsey, Jan the number of stocks underlying the NYSE Bullish Percent is in the 2000 range. The Option Stock Bullish Percent has more than 2000 but still in the 2000 range. The Option Stock Bullish Percent moves faster because it is a hybred of small, OTC, large cap etc. Kind of a mish-mash of all stocks. It tends to change prior to the NYSE and is generally the first sign of better times to come. One day of a few Dow socks rising does not make a 6% change in the index. In fact yesterdays rally was primarily a Rubin/Clinton political effort to head off China's potential devaluation. I would not look at it any deeper than that. This week is also triple witching where all options and futures expire on Friday and this generally causes lots of volatility that is generally unwound in the opposite way the following week. For a change to take place in the Bullish Percents it will take time. Weeks of time in general. What is important is you stick to the discipline. Since most of you on this thread are not professionals you have no need to push the envelope. Concerning Europe, the Bullish Percent on the UK reversed from above 70% and this is the fist sign of trouble there. The media is still in love with Europe but be careful. The new stocks in the Relative Strength Dogs of the Dow are ALD,WMT, S, TRV, MCD. Ok to put on this strategy now. Tom