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

To: flashy who wrote (4419)	7/4/1998 5:45:00 PM
From: wizzards wine	Read Replies (3) \| Respond to of 34811

Ok Flashy Here goes... Trend is + if the stock is trading Above the BLS (Bullish Support Line) Trend is - if the stock is trading below the BLS or BRS (Bullish Resistance Line) thus we generally want to look for Buying things whose trend is + or positive and look to perhaps short things that are trend - or negative, but in shorting we would like the issue to be overbought and approaching the trend line... the book has a lot on shorting and the market in general is on the oversold area now so shorting must be looked at carefully... We put some stocks with RS in a column of X's on a watch list that are trend - or negative as once they break above the trend line they generally are ready to move upward being that stocks with an RS still in X's are still considered to out preform the general market Momentum is + or positive if the stock is moving up but I do not know exactly how Tom is calculating these numbers...I see them and the point at which they switch to positive or + but will have to check into the method of obtaining them. Tom's general thought is that we like to look for stocks whose momentum has just turned positive after having been negative for a nice period of time, say perhaps 10 to 15 weeks.. This, if everything else is in place gives a good platform for the stock to have room to move up... So to recap, with the sectors starting to reverse into X's from the 30's we would like to find stocks that are still trend + or positive as this would indicate a very strong stock and perhaps one that the momentum was + or positive for say 0 to 1 or 2 weeks. This would tend to give the stock the greatest longevity... You'll see momentum + or - and then weeks and a number... this indicates the number of weeks and what the momentum was during that period of time. Hope my ramblings have not confused you but helped... Have a Great 4th!!!*! For some Early Fireworks try this cix.co.uk Later Preston