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

To: The Perfect Hedge who wrote (6067)	8/20/1998 11:13:00 AM
From: Ms. X	Respond to of 34811

Hi Beebs, We are at very oversold levels on all of our indicators and most of the sectors, save two, are below 50%. This is the lowest "field position" since 1990. This does not mean we can't go lower. We are seeing some sponsorship coming into some of the sectors with the Semi's reversing back up and the software within a hair of reversing up. All other sectors are still in O's. The 10 week moving average has reversed back up but all other indicators are still in O's. What does this mean? We are still on defense. We don't have the football as Tom says and until the NYSE BP reverses back up, we run trades and short plays, that is it. We have hard stops. With P&F we don't predict what will happen. We can't say for sure that things are moving to the upside at this point. We can say, that when it does, at these oversold levels, we will have excellent upside potential in front of us. We have one indicator in X's let's see if we can get more. Otherwise if you want to trade, make sure hard stops are in place. As to our optimism. That would be because we know a reversal up from under 30% is yummy where as a reversal up from under 60% is so so. Take care, Jan I am