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

To: Bwe who wrote (8629)10/12/1998 2:42:00 AM
From: Smooth Drive  Read Replies (2) | Respond to of 34812
 
Good Evening Bruce,

No -- You're the man. Those terrific posts of yours are a thing of beauty. I'm just a P&F first grader around graduates.

I really like the idea of short term uptrend and downtrend lines -- but, I need to study and think about them. The short term uptrend lines seem somewhat superfluous for helping me develop short term stops, as I still apparently need a sell signal

You discussed CMB. Well here's a portion from 58 with the short term downtrend lines added. One starts at 58, then 50, then 48 and 45. The first obvious question is do we draw them all until they are taken out? What ones are considered the most important? 



58 O *                                        
57 O X *                                       
56 O X O *                                     
55 O X O   *                                    
54 O X O     *                                 
53 O X O       *                               
52 O X O         *                             
51 O X O     X     *                           
50 9   O *   X O X   *                         
49     O X * X O X O   *                       
48     O X O X O X O *   *                     
47     O X O X O X O X *   *                   
46     O X O X O X O X O *   *                 
45     O   O X O X O X O * *   *                
44         O X O   O   O X * X   *             
43         O X         O X O X O X *           
42         O X         O X O X O X   *         
41         O           A   O X O X     *       
40                         O   O X           
39                             O X           
38                             O X        
37                             O X           
36                             O


Here's a portion of MSFT with the short term uptrend lines added. You can see the first one at starts at 100 and the next at 98. Perhaps we can come back and visit these charts with questions, comments, observations, etc. 



118 X                                    
116 X O                                  
114 X O             X                    
112 X O X           X O                  
110 7 O X O         X O                  
108 X 8 X O         X A                  
106 X O X O         X O                  
104 X O X O X   X   X O                   
102 X O + O X O X O X O X                 
100 X +   O X O X O X O X O                
99  X     O X O X O + O X O                
98  X     O X O X +   O X O                
97  X     O X O X     O   O X              
96  X     O X O           O X            
95  X     9               O X            
94  X                     O X            
93  X                     O X            
92  X                     O X            
91  X                     O X            
90  X                     O X            
89  X                     O X            
88  X                     O


Take care,

Eric


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