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

To: Judy who wrote (5020)	7/22/1998 7:30:00 PM
From: Giordano Bruno	Read Replies (2) \| Respond to of 34811

Hi Judy, PMCS's X's and O's could never predict future research and development expenditures. Lots of insider selling though.

To: Judy who wrote (5020)	7/22/1998 7:42:00 PM
From: Ms. X	Respond to of 34811

PMCS flipped the RS negative after being on that list. It also broke a triple bottom and brl. If I owned it, I would have been out before the tank given the reversal and chart pattern. Looked OK when I first put it on the semi's list but then somewhere between then and now, it pooped.

To: Judy who wrote (5020)	7/22/1998 7:43:00 PM
From: Mr. BSL	Read Replies (2) \| Respond to of 34811

Hi Judy. I will take a close look at what happened to PMCS tonight. FWIW, I never buy a semi until the sector goes Bull Confirmed. Maybe Jan can post the Bullish percentage chart and you will see the big head fakes it gave in April and December of last year when the sector first turned up into a column of X's. Best regards, Duke60

To: Judy who wrote (5020)	7/22/1998 10:06:00 PM
From: Mr. BSL	Respond to of 34811

OK Judy. You win. On one hand, PMCS only went down 15% last Friday. On the other hand the P&F sell signal at 39 would not have helped. I'll put this on the rare list of haircuts where P&F did not give a clear warning. Because it was only 15%, I'll call it a trim! PMCS does seem to do quite well when the semi sector is confirmed or corrected between 40 and 60%. Looking over the biggest one day drops for PMCS, the sector was either in a head fake (first reverse up from lows, only to reverse back) or above 70%. date haircut sector ---- ------- ------ 4/1/97 -10% head fake 8/29/97 -10% above 70% 12/2/97 -10% head fake 1/9/98 -11% head fake 7/17/98 -15% head fake During the large correction last October, PMCS worse day was only 5%. the sector was in the 60's then. IMHO, most stocks in the semi sector will stop you out if you don't wait for Bull Confirmed. duke60