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


To: Diana who wrote (5856)8/14/1998 5:16:00 PM
From: Ms. X  Read Replies (3) | Respond to of 34824
 
Hi Diana,
Ouchie poo poo on TLAB. How is that for a technical commentary? :-p
Is it because of the power shut down this weekend that you are slowed
getting the subscription?

Here is the chart for TLAB.

5 -------------------------------------------------------------------
94 Top
93 X
92 X O
91 X O
90 --------------------------------------------X O X ----------------
89 X O X O
88 X O X O
87 X O X O X
86 X O O X O
85 --------------------------------------------X ----O X O ----------
84 X O X O
83 X O X O
82 X O O
81 X O <--This could have been the hedge point.
80 --------------------------------------------X --------O -------------------
79 X O
78 X O
77 X O
76 X O X <--Lower top
75 --------------------------------------------X --------O X O X <--Second lower top
74 X 7 8 X O X O Med
73 X X X O X O X O X O
72 X O X O 5 X X O X O X O X O<--Yesterday's action
71 X O X O X O X O X X O O X O *
70 ----------------X --X O --O X O X O X O X ------------O X --* <--This was the stop (blew past it today)
69 X X O X O O O X O X O X *
68 X O X O X O X O X O *<--Did hold support
67 X O X O O X O X * *
66 X O X O X 6 X *

As far as buying I would hold off right now. I may very well do a dead
cat bounce and traders may like it but not for long term. Sector low
at 26% but as you know everything is still moving down. Would need to
see TLAB consolidate at this point. Too far off its high.

Take care,

jan I am