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

To: Judy who wrote (9740)	11/17/1998 6:23:00 AM
From: Bwe	Read Replies (1) \| Respond to of 34809

Judy, Yes, a Buying Climax can lead to a period of consolidation or prove to be a short term top in a stock. Also, often times, a stock can have more than one Buying Climax before it tops out for good. Big volume is an important measure to look at along side the stock's new 52 week high and close with a loss for the week. I'd be interested to know how CSCO, EMC, PVN, SUNW's volume last week compared to their weekly average. There's also a lagging time element that occurs after Buying/Selling Climaxes. Many Oil Service stocks had multiple Selling Climaxes in July and didn't start to move off their bottoms or went on to make new lows for another 1-2 months. Whatever the case, Buying/Selling Climaxes give a pretty good clue that a stock may be at the early stages of a change in trend and a top/bottom may be in the process of forming. Bruce