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

To: heidi s who wrote (9858)	11/18/1998 8:32:00 AM
From: wizzards wine	Read Replies (1) \| Respond to of 34809

Welcome Heidi S, Your view that these look to be over bought may well be the case. I have limited time this morning and thus have not looked at the charts, but many of the sectors are in the area above 60%. P&F shows us supply and demand relationships, and is not well used with other indicators, generally. With the sectors in a position >50%, we look to take positions in stocks after a pullback. Thus the DBT ( double top buy) signal is only letting you know that demand is still here, your entry would be on a pull back with your trading stop the next DBS (double bottom sell) signal or if trading long term, you could look at the violation of the BSL ( Bullish support line) but that may be a long way down. Hope that helps a little, and that some one else will try to help you also. Later Preston