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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 (11776)	12/19/1998 6:43:00 PM
From: chartseer	Read Replies (2) \| Respond to of 34811

172 is another triple top break out for IBM. The previous resistance is gone. At 170 played a 18 point reversal against a 2 point break out and lost. IBM was on a 24 box high pole top with a 3 box reversal. This is an Earl Blumenthal traders play. Didn t work out this time but usually does. Perhaps it works best when it is a 20 box straight down with a 3 box reversal up rather than when it is 20 boxes straight up with 3 boxes down. Chartseer