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: Al Serrao who wrote (8162)	10/4/1998 3:13:00 PM
From: Bwe	Read Replies (3) \| Respond to of 34810

Good afternoon, Al. RMBS just had a High Pole Top at $65. HPT's more often than not lead to sell signals and that occurred here with a triple bottom sell at $60. The downside po is $51 and should the stock reach the po, the BSL will be taken out (now at $55). RMBS had two HPT's over the summer, both in July. The first HPT was at $62. The stock subsequently dropped to $52 after that one. RMBS had another HPT at the end of July at $57 and that one preceded an eventual drop to $45. Since then, the stock has given 3 buys and two sells on it's chart. The recent RS buy is a major positive for the stock. That RMBS has been outperforming the market since since May on it's RS chart is also very bullish. With the RS bullish, this HPT's damage will likely be contained above the BSL. A lousy market will likely take the stock to the low $50's. In a good market the BSL will likely hold and provide a good buying opportunity for the venturesome. JMHO. Bruce