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

To: HoodBuilder who wrote (6575)	8/31/1998 9:02:00 PM
From: wizzards wine	Respond to of 34824

HI Michael, After todays action, I'd look for a 50-75 point up swing and then more carnage...dead cats or not, it's more likely to go down to 7200 then 7000... JMHO Later Preston

To: HoodBuilder who wrote (6575)	8/31/1998 10:34:00 PM
From: james ball	Read Replies (1) \| Respond to of 34824

Mike dont' worry we won't raise the price. We want to keep it low. We have always taken the approach a lot of rain drops fill a bucket. If the NYSEBP reverses it is always a true reversal and not a dead cat bounce. It could prove to be a dead cat bounce but you don't play it as if it were. There have been times like 1987 when it reversed up for a month or so, profit taking settled in as well as the disbelievers getting out and it reversed back down but the reversal usually comes at low levels so nothing is to be done but hold on. The only thing we consider false in P&F is the first sell signal in an uptrend. If you are delt aces back to back in a card game do you anticipate you will be beat or do you play your hand. Most will play their hand but it does not mean they won't be beat. Don't try to over think this market or any market. Just play your hand to the best of your ability and the cards will fall where they may. I think we play the game the best so stick with us. Mike get a Nike shirt that says Just Do It. Maybe we should bet on with a catapult formation on it that says Just Do It. One other thing. There were only two times in history with money supply growing as rapidly as currently and that was 1939 when everyone was scared to death of Hitler and Co. and 1971 Nixon turned on the spigot. Don't expect a recession, money is loose and the economy will grow. Maybe Ms. ABbey will be right. She was looking for all kinds of buzz words on Uncle Lou Dobbs show tonight. She's backed in a corner and can't get out. She will be ultimately right on the economy I think. Tom D