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

To: Challo Jeregy who wrote (6614)	9/1/1998 4:59:00 PM
From: Mr. BSL	Read Replies (2) \| Respond to of 34810

Challo & all. Nice price action today but NYSE HI/LO from Yahoo data continues to be weak. Also winners to losers was less than 2 to 1. One of you box seat types might want to let us know if the strong market price action today resulted in more P&F buys then sells. HI LO 10 day mov ave 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 1-Sep 13 930 4.27 This is not official data but a trend is a trend. New month. Don't forget your 9's! duke60

To: Challo Jeregy who wrote (6614)	9/1/1998 8:12:00 PM
From: Ms. X	Read Replies (2) \| Respond to of 34810

Timeline May 13th: NYSE Bullish Percent reverses down after reaching 72% in March. The reversal down puts the NYSE Bullish Percent in Bear Alert status. Bring the defensive team on the field. The high of 72% was still lower than the October 1997 highs of 76% while the Dow Jones and S&P 500 moved to new highs. There are lots of right ways to defense. They range from setting stop loss points to taking partial positions off the field to shorting stocks to buying protective puts to selling calls. There are lots of right answers but the important thing is you are aware that the risk in this market is very high. We could have a 1994 market where the Dow Jones and the S&P hold up very well but one by one every sector gets taken out behind the shed and shot. It could be a 1989-1990 market where most stocks got hit in 1989 but it wasn't until August 1990 that the Dow Jones sold off. In 1987 and in October 1997 it came swiftly. However the correction comes, we will be prepared for it. Remember the NYSE Bullish Percent is a leading indicator and it is designed to turn bearish when everything looks the best. Written and printed with permission. Copyright Dorsey Wright and Associates.