Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Smooth Drive who wrote (6531)	8/31/1998 7:45:00 AM
From: Bwe	Read Replies (1) \| Respond to of 34811

Good morning Eric, Myron and all, Myron, you can now add the Bullish Resistance Line (brl - abbreviated with lower case letters because it is a secondary trend line) to further fine tune your vertical po for MTC as Easy E explained. This is how you do it (paraphrasing Burke). A brl can be drawn whenever there is a "wall" of O's that has AT LEAST two O's above the highest X in the next column. Here's how it looks: O O <-------you can start drawing in your brl here O X O X O O X O O X O O brl's are quite helpful in giving a p&fer a good idea of the upper channel of a trading range once an uptrend has begun. The Bullish Support Line (BSL) will provide the lower end of the uptrend channel. brl's are great to use with vertical po's to give you an idea where the current up move could run into trouble. With regard to MTC, you can draw in a brl from the wall of O's provided in August '97, starting above the highest X in the next column which ends at $45. You start the brl at $46. This brl is currently at $84. I'll post a Chartcraft Report this morning. Take care, Bruce

To: Smooth Drive who wrote (6531)	8/31/1998 4:45:00 PM
From: Mr. BSL	Respond to of 34811

Hi Eric. Here is the hi/lo info you asked for. I got your overbought/oversold research but can't read it because my computer doesn't do mims. It does Excel 4 and 5 though. BTW, speaking of mutual funds, Rydex has a couple of aggressive funds that are well suited for use with the NYSE % bullish chart. Nova (RYNVX) is extremely aggressive and exaggerates the moves on the the S&P 500 both ways. It's first on my list when we get the ball back. URSA (RYURX) essentially shorts the S&P 500 and will be first on my list next time the NYSE % bullish goes to a column of O's from above 70%. 52wH 52wL 10 day mov av 7-Aug 32 132 6.41 10-Aug 21 189 6.52 11-Aug 17 520 6.17 12-Aug 29 165 6.62 13-Aug 31 253 6.37 14-Aug 33 231 6.76 17-Aug 34 274 7.23 18-Aug 56 151 9.22 19-Aug 27 159 11.17 20-Aug 34 250 11.90 21-Aug 23 496 10.19 24-Aug 34 269 10.30 25-Aug 56 292 12.32 26-Aug 33 583 10.88 27-Aug 14 1009 8.48 28-Aug 15 828 7.03 31-Aug 20 1209 5.61 Take care, duke60