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

To: mph who wrote (9342)	11/6/1998 6:06:00 PM
From: wizzards wine	Read Replies (2) \| Respond to of 34810

Hi MPH, Regarding LGND P&F wise, RS is in O's and trend is below the BRL which is up at 15... Now it has fallen to a low of 5.5 and rallied twice back up to 12 where it is currently. If it does not break to 12.5 giving a DTB ( double top buy) signal and reverses back into a column of O's it could do as it has on the past past reversal and go down to 7ish...it takes a 6.5 for a new sell signal... Not breaking out to 12.5 would show that supply was in demand and thus a reversal into O's going back down...this could give a good trading play if it goes down to 7.5 to 8ish with a plan to sell around 12 on the reversal. If it give us the 12.5 and then reverses, the vertical target will be 22.5, but again IT must still break the BRL at 15 first without bouncing off. Right now I'd play it as a trade on a pullback in the 8 to 9 area, as it looks to have a lot of doubters since July, in the 6 to 12 area... JMHO hope it helps Later Preston