Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: MileHigh who wrote (7891)	9/26/1998 1:24:00 PM
From: Al Serrao	Read Replies (2) \| Respond to of 34811

MileHigh, I strongly encourage you read Tom Dorsey's book on point and figure charting if you haven't already. Next, try his two week free subscription. You can e-mail them at dwa@dorseywright.com. or call at 1-800-247-5234. Once you have, I promise it will open up an entirely new way of investing and looking at the market(s). Tom is the first one to tell you, fundamentals are the most important factor. FA tells you what to buy, P&F tells you when. P&F is simply a way to increase the odds in your favor. Yes, triple top buys are usually very bullish. However, I would add that if the triple top fails its a sign of trouble to come. From the chart I can say RMBS did not break a triple top yesterday but did break a double top. I am long RMBS and own the stock long term and I also trade the options. RMBS is in the semiconductor sector which is on bull alert. The stock is on a RS buy signal as of 8/25/98 and in a column of X's. This is very positive since RS signals change infrequently and usually last two years or more. Stocks with strong RS usually outperform the market for some time. The trend chart broke a double top yesterday 9/25 where it met resistance at 67 and then closed at 65. There is also a recent alert for a positive breakout momentium which reversed positive. Since there are only 23M shares its a pocket rocket to say the least. The float is very thin and the stock is highly sensitive to news items. Due to the recent increase in volume I'm expecting news. I hope this helps.