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

To: Bwe who wrote (8160)	10/2/1998 3:08:00 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 34810

Hi Bruce.. just thinking about PFE.... last week or this week they announced a 5 million share buy back, or a 5 billion dollar deal??? one or the other<g>...they quickly ran up that day, BUT sold off later on... I don't like the action in the stock...i feel they are going to miss the number this quarter...slowing sales would be my guess... they might warn about the next Q, too...Just a thought... i'm going to do some homework on the charts this weekend on a lot of stocks... while the D-fense is on the field, it's skewed extremly to the oversold side.. SEE, i DO know something......:>} Later

To: Bwe who wrote (8160)	10/2/1998 5:45:00 PM
From: Judy	Respond to of 34810

Bruce, I remain wary on both EMC and PFE. PFE hit its 200-day ema this morning during the market selloff and recovered with the market. The sell volume today was heavier than usual which hints of distribution. PFE is a good proxy for the market, but todays market rally seems to be the result of short covering before the weekend. I'd not make a new investment in PFE until I see that it will not break when the market bottoms. EMC shows great relative strength when the market reverses up. But on an overall basis it trades like a short, so I suspect 3Q earnings will be fine but would not be sanguine about future quarters performance. btw, EMC and I have been friends for years, always been profitable ... long or short. Get some rest this weekend, my dear.