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

To: Riskmgmt who wrote (6122)	8/21/1998 12:49:00 PM
From: Ms. X	Respond to of 34811

Hi Ray, You are gettin' it. I'm going to put the chart back up. Should have done that the first time.. General rule of thumb. If the stock is in an uptrend and giving consistant buy signals, the first sell signal is usually false. Wait for the second sell (if long) before considering hedge or sell. 92 \| X 91 X O 90 ------ X O - 89 X O 88 \| X X X O 87 \| X O X O X O 86 \| X O X O X O <--Yesterday's pullback 85 --------X --X O X O X O 84 * X O X 8 X O O 83 * X O X O X O <--Today's move (so far) If it holds here 82 * X O X O it is doing well. Only 1 sell signal in uptrend. 81 * X O <--Last of near term support 80 --------X --------------<--Break of near term support 79 X If it moves to 80 hold on long trade ideas 78 X wait for next buy signal. 77 X X 76 X O X 75 ----X O X ------------* - 74 X O X * <--Break of Bullish support line and long stop 73 X 7 <--Next support after 81 72 X *