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

To: ViperChick Secret Agent 006.9 who wrote (4025)	6/23/1998 7:23:00 PM
From: james ball	Read Replies (1) \| Respond to of 34804

Tom Dorsey, lots of new buy signals today and the Percent of 10 should reverse tomorrow. Will let you know early morning. High low still needs more new highs. We are taking out large numbers in the Mov.Avg. today and this will flatten out the curve. Still need more new highs. Option Stock Bullish Percent will gain some sponsorhsip but no reversal today. Possibly later in the week. Thing to watch for is the Dow Jones making its way to a new high with window dressing for the quarter without the NYSE Reversing up. Shades of times in the past. The Oil stocks providing lots of fuel at this time again reminding me of times in the past. Semi's, Computers and Soft will move up a couple of percent tomorrow but no reversal yet. Possibly by friday. WE keep them up daily and can let you know where they stand since they are at critical level. Tom

To: ViperChick Secret Agent 006.9 who wrote (4025)	6/24/1998 5:52:00 AM
From: Bwe	Read Replies (3) \| Respond to of 34804

Lisa, Selling Climaxes (SC) are a subtle sign that people are scooping up beaten down stocks and bringing them off their 52 week lows to at least finish with a gain for the week. SC's indicate a subtle shift to the demand side of things and large numbers of SC's usually occur at market bottoms. The reverse is true of Buying Climaxes (BC). People become overly enthusiastic, bidding stocks up to new 52 week highs on momentum investing and whatever else. All of a sudden, however, supply comes into the stock, and the stock, for whatever reason, finishes the week with a loss. I believe I posted at the end of April that there was a record 208 BC's. Not far from the top. That same week there were only 2 SC's. Extreme numbers of BC's or SC's at any time should raise a caution flag. If a stock you own has a BC, I would closely reexamine everything fundamental and technical about the stock. BC's are one of the building blocks of which tops are made. Conversely, SC's help to form the foundation of a bottom. Great question, Lisa. Hope this helps. Bruce