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

To: ViperChick Secret Agent 006.9 who wrote (11568)	12/16/1998 11:46:00 AM
From: james ball	Read Replies (3) \| Respond to of 34808

DWA SUBSCRIBERS - Pattern Recognition is being added to the individual product next week. If you are not on board, do so now as it may not be a-la-cart in the future. Lots of requests for it. Tom

To: ViperChick Secret Agent 006.9 who wrote (11568)	12/16/1998 12:23:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 34808

From ze P&F bible. Bull Correction and what does it mean. Page 100, "Point and Figure Charting" by Tom Dorsey. Bull Correction Market. The bull market is getting a little extended at these levels, and the market is currently digesting its excesses. The bull trend is likely to resume shortly. It is characterized by a 6 percent reversal down from a Bull Confirmed status that takes place below the 70% level, or a 6% reversal from above the 70% level that does not decline below that critical 70% level. It is telling us that the market leaders will likely drop in price due to profit taking. Defensive option strategies can be taken at this point. Selling call options or purchasing puts as insurance against a potential decline in the broad averages might be a desired strategy here. Traders should be prepared to buy the stock on the next 6% (3 box) reversal to the upside in the Bullish Percent Index. The bull market is still intact; it's just taking a breather. The traffic light would have changed from green to yellow in Bull Correction status. The next reversal back up into a column of X's reverts the risk level back to Bull Confirmed. For more, order the book! (OJ are you listening). Check the DWA site dorseywright.com or go to Amazon.