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

To: Jerry Olson who wrote (10475)11/29/1998 4:59:00 PM
From: Smooth Drive  Read Replies (3) | Respond to of 34823
 
Hello Jerry,

DELL is an interesting stock. I put up a portion of the chart at
Message 6423842. I'll update it as follows:

73                               X
72                               X O
71                               X O
70                               X O
69                   X           X O
68                   X O         X O *
67                   X O         X O X *
66               X   X O         X O X O * < Short Term Downtrend Line
65               X O X O         X O X O     
64               X O X O         X O X O + < Short Term Uptrend Line
63 O             X O   O         X O X +     
62 O             X     O         X O +
61 O             X     O BRL > + X +
60 O     X   X   X     O     +   X
59 O     X O X O X     O   + X   X
58 O     X O X O X     O +   X O X  
57 O X   X O X O X     O X   X O X
56 O X O X O X O       O X O X O X     + < Intermediate Uptrend Line
55 O X O X O X         O X O X O X   +                            
54 O X O X O X         O X O X O X + 
53 O X O   O           O X O X O +
52 O X                 O X O X +
51 O X                 O X O +
50 O X                 O X +
49 O X                 O X
48 O X                 O X             + < Revised Bullish Support
47 O                   O X           +     Line
46                     O X         +
45                     O X       +                          
44                     O X     +     
43                     O X   +
42                     O X +
41                     O +
                       +

(Note: BRL ='s Bullish Resistance Line)

>>my sense is we won't see 61, we'll see 67...in either case i may just hold this position anyway, and let DELL do it's thing next year...Dennis this stock could double in the next 2-3 months...a no brainer...<<

You could well be right Jerry.

I'm currently experimenting with a number of Dave Evans setups, and specifically the 5, 13 and 40 ema's and MACD 8,17,9 -- 13,26,9 -- and 13,34,89 and their relationship to P&F reversals (up and down) and buy/sell signals. The 5 has crossed below the 13 and all MACD's have crossed down.

Guess we'll see.

Take care,

Eric



To: Jerry Olson who wrote (10475)11/30/1998 12:28:00 AM
From: Dennis J.  Read Replies (1) | Respond to of 34823
 
OJ. Thanks for the read on DELL. I respect your judgement here. (Is there anybody on this thread who doesn't?) P&F does say the jury is still out on the next move for DELL. I just see some negative signs, like relative strength in a column of O's, and the Alert for momentum switching to negative. RS in O's for the first time since 1995, as far back as the data goes.

Be assured that candles are NOT indicators. Just another way of plotting OHLC, but definitely easier on the eyes. Easier to visualize multi-day movement patterns, too. Nothing more. If you try them for a while, I predict you won't switch back, ever.

Dennis


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