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

To: Jerry Olson who wrote (9608)	11/14/1998 4:44:00 PM
From: wizzards wine	Read Replies (2) \| Respond to of 34804

Hi Ya Jerry, Hate to splash on COLD WATER, but I see a LOT more support for DELL at 55-60, and looking at previous patterns, she likes to bounce off of the lower BB... Not a P&F view, but take a peek at the MACD and SK-SD charts as to what normally happens at this point with DELL... JMHO Later guy, Preston

To: Jerry Olson who wrote (9608)	11/16/1998 6:40:00 AM
From: Bwe	Read Replies (3) \| Respond to of 34804

Good morning, Jerry. DELL is one box from a High Pole at the Bearish Resistance Line at $62. That's a pretty bearish pattern, Jerry. It has to happen first, but it's something I'd keep an eye on. The first reversal off the top at $73 was a traders sell signal. I'm going by DWA's chart as my new Chartcraft charts for OTC stocks D-Z comes in the mail next week so my read of the p&f chart is coming off the computer screen. I'm much more comfortable working from a hand chart. Anyway, DELL is no stranger to HPT's. The stock had one at $57 in August dropping to $47 before recovering and going on to make new highs. DELL had another HPT at $65 in October (it was the first move in October for the stock) and that HPT led to a drop $44. The stock had bullish RS through October, so these HPT's were more shots across the bow, however, the RS is currently in a column of O's so if the HPB were to occur, I would view that as a particularly bearish chart event. The long term Bullish Support Line is in the outer limits of reality at $25 so it offers little help. This is where the revised trend lines come in very handy. A most important Short term Uptrend Line (STL) from March (not so short term anymore really) is at $62. A Revised BSL (RBSL) is at $46 and an Intermediate Term Uptrend Line (ITL) is at $54. If the stock has a HPB and is unable to hold the STL, the ITL will likely be the next stop, IMHO. My new guide for the stock as a long term investor would be the RBSL at $46. If I were looking to trade the stock, I'd sell at $61 or go short at that price level. If the stock is able to reverse into X's on it's p0&f chart before moving into a HPB, then that reversal to $66 might be a good entry point for a trade. 50 day MA: $60.72 150 day MA: $52.08 200 day MA: $46.89 Good luck, Jerry. Bruce