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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: XOsDaWAY2GO who wrote (6290)	8/2/1998 2:32:00 PM
From: Mr. BSL	Read Replies (1) \| Respond to of 42834

Even Point and Figure charting is way, way defensive now Hi Barbara. The Point & Figure indicators are definitely defensive and Investors Intelligence is looking for a pullback to the 8000-8400 area in the Dow (8/3 Barrons, p.34). However, the indicators can reverse at anytime. I am encouraged that Bob is looking for a buying opportunity at Dow 8650. It is interesting to note that the 30 week moving average gave buy signals in November 94, early August 96, April 97 & this past January - which of course followed buy signals from Bob. I usually wait for at least the Optional BP to reverse up before going bullish, but when Bob gives a buy signal, the 30 week average is good enough confirmation for me. BTW, if you are interested in the semiconductor capital equipment makers, I put together a modest Bullish percentage chart for the sub sector on the research thread. The chart gave a buy signal yesterday but beware that a 30 stock group is not very statistically significant in point & figure land. Message 5388764 duke60