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

To: Diana who wrote (5816)	8/13/1998 5:58:00 PM
From: Dennis J.	Read Replies (1) \| Respond to of 34810

Cendant (CD) Big up-move today, breaking Upper AIQ Band on good volume (bands contain 90% of all trades, sort of like Bollinger Bands). Good sign. Suggest you read news of last two days. Think about the valuation, if not for the re-statement of earnings, etc. They reportedly have a large presence on the internet. Stock looks ready to move, now that audit and adjustment of 1997 earnings is behind them (my opinion only). There is a Cendant thread on SI. Check it out. P&F chart is mostly negative. Broke a DB at 14.5 on 8/11 and formed a spread DB at 14, which held. The news suggests to me that this will prove to be a major low. Stock is in a col. of X's, adding two more today. Next buy signal would be a DT at 19 (about 15% above today's close). Break of the BRL (bearish resistance line) occurs at 29, a long ways from here. I own some Jan 12.5 calls. Good luck. Dennis Good luck. Dennis