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

To: Mr. BSL who wrote (6615)	9/1/1998 8:11:00 PM
From: Ms. X	Respond to of 34810

Timeline May 7th: "When you look at the picture as a whole it suggests a cautious posture in this market. We would rather lose opportunity than lose money. Opportunity can be made up but its hard to make up money. New positions should be taken in sectors which are showing good relative strength and in stocks that are still in uptrends and have pulled back to support level. Make sure you know where the trouble points are in all of your stocks. Don't take your eye off the ball." Written and printed with permission. Copyright Dorsey Wright and Associates.

To: Mr. BSL who wrote (6615)	9/2/1998 9:30:00 AM
From: Bwe	Respond to of 34810

Chartcraft Report: NYSE Bullish % falls to 14.7% This is the lowest level the NYSEBP has been to since 1987. An upturn in the NYSEBP would likely mean that the worst would be over. The reversal has to occur, however, and Chartcraft reminds that the trend is your friend and the trend is most definitely down. Weekly Data: NYSEBP: 14.7 Option Stocks BP: 8.2 (26.7 last week) OTCBP: 9.6 ASEBP: 19.7 DowBP: 3.3 (only MO is on a p&f buy signal in the DJIA) NYSE Stocks Above Their own 10 Week MA: 8.25 30 Week MA: 11.53 Option Stocks Above Their own 10 Week MA: 9.6 (24.4 last week) 30 Week MA: 15.7(26.6 last week) NYSE Daily High Low: 6.5 (12.7 last week) Broad Industry Group Bullish % Weekly Changes: Broad Industry Group Bullish % Sum: unchanged at -41.0 (lowest level ever) Survey of Investment Advisors: Bulls: 40.7 Bears: 43.2 In this bear market environment, Chartcraft is now looking for bearish advisory sentiment to move over 50%. As a reminder, it's extreme readings one way or the other in this indicator that mark turning points that will give a clue to a potential bottom. All changes were down. All groups are Bear Confirmed except one.....Utilities - Electric 70% Bull Top Aerospace: 6% Autos: 18% Banks: 12% Biomedics: 8% Business Products: 10% Buildings: 16% Chemicals: 12% Computers: 8% Drugs: 8% Electronics: 6% Finance: 14% Foods: 22% Forest Products: 12% Gaming: 18% Healthcare: 12% Household Goods: 16% Insurance: 22% Asia Pacific: 4% Europe: 30% Latin America: 2% Leisure: 10% Machinery: 18% Media: 24% Metals - Non-Fer.: 6% Oil: 8% Oil Service: 8% Precious Metals: 4% Protection: 16% Real Estate: 24% Restaurants: 14% Retailing: 18% S&L's: 16% Semi's: 6% Software: 10% Steel & Iron: 6% Telephone: 10% Textile App.: 16% Transport Non Air: 12% Utilities Electric: 70% Gas: 32% Wall Street: 20% Waste Management: 22%