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

To: Ms. X who wrote (8079)	9/30/1998 3:23:00 PM
From: MileHigh	Respond to of 34809

Jan, I am an idiot so please help me, you write... For whatever reason and it doesn't matter what reason really* (TA wise), RMBS was bought past previous resistance. Demand was in control. The close price doesn't represent this.* But it does matter doesn't it? If it is simply short covering, which IMO is not a true indicator of healthy demand for a stock, then the breakout is false...I don't know, but I do not buy the belief that it does not matter what pushes a stock higher. You need healthy sustained buyers to push a stock higher in the LT. Demand seemed to dry up REAL quick on Monday. The RMBS spike looks like an anomaly to me. I probably will be proved wrong! MileHigh

To: Ms. X who wrote (8079)	9/30/1998 3:30:00 PM
From: stan s.	Read Replies (2) \| Respond to of 34809

Okay Jan....we agree on one important premise....that is the importance of shadows i.e. highs and lows. As I said I always look at them, Candlesticks etc. The conclusion we draw from that surge to 72...is markedly different...to me it was a negative to P&F a positive. Demand was in control. The close price doesn't represent this. It was in control....but failed at least for now. I will admit this is simply anecdotal evidence from ONE chart that I happened to view....patently unfair? YEP (; More questions as I have time....this is fun huh? Stan P.S. MileHigh brought up a good point.