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

To: The Perfect Hedge who wrote (6842)	9/6/1998 3:03:00 PM
From: John Post	Respond to of 34810

Hi Beeblebrox, Looks like just you and me around at the moment. and I'm kinda new to P&F, but if you don't mind, I'd like to say what I notice (remimber novice here). I notice that demand is weakening, but so is supply. It seems to be forming a triangle...lower highs, higher lows. It is one column short. (Takes five to form a triangle. I see another chart IDTC, that has formed a nice triangle. Guess the play (according to TD's book) is to wait for the break out and then play it. Also guess that unless the NYSEBP reverses, we should expect to see the break to the down side... of course you realize, I'm just guessing...and trying out my PnF legs. To anyone P&F experienced people...please comment. John

To: The Perfect Hedge who wrote (6842)	9/6/1998 3:27:00 PM
From: wizzards wine	Read Replies (1) \| Respond to of 34810

Hi Beebs, AMZN is RS O's and appears to be trying to form a base, could go either way and I'd let it give some better signals...with this market though, my guess is it will head south again when the DOW does... JMHO Later Preston

To: The Perfect Hedge who wrote (6842)	9/6/1998 5:45:00 PM
From: Bwe	Read Replies (1) \| Respond to of 34810

Beeblebrox, AMZN is bearish. It's below the BRL and the July highs seem likely to stand for quite some time. I pointed out the High Pole Tops and Buying Climaxes in past Chartcraft Reports. AMZN had a HPT in July at $114 and another in July at $126. Both of those HPT's suggested strongly that the stock would move below a previous bottom which was $95. Owners of the stock saw that price, unfortunately , and a whole lot more. 52 boxes straight down in one move. Truly scary for longs I'm sure. The RS is bearish The long tail down pattern was good for a $36 upside play. Another confirming sell is awaiting at $80 and that would signal further downside action could be in store. The bearish price objective is $.50. That is not a typo. Best to you, Bruce