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

To: The Perfect Hedge who wrote (7466)	9/19/1998 7:56:00 PM
From: Bwe	Read Replies (3) \| Respond to of 34823

You bet, Beebs. My family and a great long time, lifelong friend of mine, just came back from a wonderful day of Army football at West Point's Michie Stadium. It's a wonderful yearly experience my family has come to love and look forward to, and for anyone that has experienced an Army football game, it's usually something they'll always remember. The Mets just won another heartstopper and everything seems right with the world. Now, without further adeu, the p&f analysis for Nike. NKE had a High Pole at the Bearish Resistance Line (HPB) at $47 in July. With the NYSEBP at the time in a Bear Confirmed posture, this was not a stock to own on the long side. The stock broke four previous bottoms at $42 in August and proceeded to drop 21 straight boxes to a low of $31. The first three box reversal after this severe drop was a long tail down trading buy signal and NKE has subsequently given a double top buy signal at $36. The upside po is $46. The stock is right near a Bullish Resistance Line (brl) which is at $39. The Bearish Resistance Line (BRL) is at $49. The BRL provides the upper end of the trading range while the brl is a short term problem. NKE is currently a trading situation with bearish RS that is in a downtrend. Good luck to you! Bruce