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

To: Challo Jeregy who wrote (5649)	8/10/1998 5:29:00 PM
From: Ms. X	Respond to of 34811

Hi Challo, Tom said that the NYSE BP was at 38%, not yet at the 30% level which he was talking about at that time. He said it could go lower but doesn't know if it will. The lowest was in 1990 when it hit 18%. The 30% is oversold territory and a reversal up from there is Bull Alert and great "field advantage". We never know we have a bottom until we get the reversal up. Hang tight!

To: Challo Jeregy who wrote (5649)	8/10/1998 6:59:00 PM
From: feewaybill	Read Replies (2) \| Respond to of 34811

Hi Challo, Tom was making the point that field position is important when looking at the NYSEBP. Right now its at 38%. As you know when the NYSEBP is at 70 % and above, it is viewed as overbought(risky for going long). When at 30% and below its oversold (a safer area on the field). An 8% move down to 30% would give us this field position. However Tom also pointed out that in Oct. of 1990 the NYSEBP went all the way down to 18%. My plan is to continue to play defense and watch for the reversal of the NYSEBP into X's along with the short term indicators.............Hope this explained the 8% thingy..........Bruce