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

To: chartseer who wrote (12060)	12/28/1998 10:32:00 PM
From: SFW	Read Replies (2) \| Respond to of 34809

I too was surprised to see that the local malls were not really crowded the day after christmas. The limited, Abercrombe and Victoria secret were the stores that appeared to be the busiest. Many others had sales people just standing around. I guess there will be even heavier discounts in the next few weeks. Abed

To: chartseer who wrote (12060)	12/29/1998 6:25:00 PM
From: Bwe	Read Replies (2) \| Respond to of 34809

Carnival (CCL) continues to astound as portfolio managers are seemingly adding this fine company to window dress their quarter ending portfolios. A Bullish Resistance Line (brl) is upcoming at $48 and should cause a hiccup. Due to an inability to draw in another brl on CCL's chart, I use another method of drawing in upper trendline channels that I learned from Howard V Prenzel's 1976 book; "Dynamic Trendline Charting - How To Spot The Big Moves and Avoid False Signals". Here's how Prenzel describes the method: "When a stock moves above any previous rally top, a tentative dotted trendline may be drawn upward at a 45 degree angle through box corners, BEGINNING FROM THE UPPER LEFT-HAND CORNER OF THAT PREVIOUS RALLY TOP.....This may prove to contain the price action for quite some time and prove a major trendline." In applying this upper trendline to CCL's chart, I've drawn a "Prenzel Bullish Resistance Line" one box above the July $42 high. This trendline stands at $57. CCL has more than doubled since the October bottom. Royal Caribbean (RCL) has also had a stellar year, up a stunning 47% over the past 12 months. It too has more than doubled since the October bottom. When the fed started their interest rate cuts and lifted the fear of recession that had been priced into both of these stocks, both CCL and RCL resumed their market beating price action. Take care, Bruce

To: chartseer who wrote (12060)	12/29/1998 6:31:00 PM
From: Bwe	Read Replies (4) \| Respond to of 34809

With Forbes magazine naming Pfizer as it's Company of the Year, now might not be a bad time to sell into the bullish euphoria that will surely take hold of this stock in the coming days. Last year, Forbes named Compaq it's company of the year, and that was a great contrary sell signal. It took the stock a good 8 - 10 months to get over the problems that soon surfaced after the bullish cover story. Something to think about. Bruce