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

To: Judy who wrote (6046)	8/19/1998 4:01:00 PM
From: Ms. X	Respond to of 34809

Hi Judy, I think what is confusing sometimes is when to initiate positions. I also fear I am not completely clear in my comments. I'm trying to work on that. I wouldn't have shorted LU either. My comment on the short was meant if someone had gone short, 92 was the stop. The remark about hedging at 84, was correct. However, 84 was the signal for a hedge and you could certainly wait for a retrace up before doing so. Again, 92 would be the stop as it would be the next buy signal. Currently, LU is in X's but at a lower top unless it can break the 91 to 92. Another reversal could set up another double bottom break at 83. For a long position, I'd wait for the buy signal at 92 and then secure a stop at 83 for any trades. I'm not sure if I'm any clearer here. Please let me know. Thanks, Jan I am