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

To: jerry anchin who wrote (4561)	7/9/1998 5:06:00 PM
From: feewaybill	Read Replies (2) \| Respond to of 34811

Hi Jerry, Bullish Shakeout Formation vs. GMGC: To be a Bullish Shakeout it must have the following 6 attributes: 1. The stock must be in a strong uptrend. <Questionable?/> 2. The stock should be trading above the Bullish Support line. <YES> 3. The stock must rise to a level where it forms two tops at the same price. <Yes a spread double top at 15> 4. The subsequent reversal of the stock from these two tops must give a Double Bottom sell signal. < Yes the next column of O's after the sread double top broke a double bottom at 12.50> 5. This sell signal must be the first in this uptrend. <YES> 6. The RS chart must be on a buy signal. <NO, it was on a SELL> Pretty subjective stuff but IMHO I think we can find a better looking Bullish Shakeout Chart to trade with. GMGC's RS was on a sell signal instead of a buy(6) which doesn't sound Bullish enough.......comments??...........Bruce