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

To: Tigress who wrote (12167)	12/31/1998 5:11:00 PM
From: Judy	Respond to of 34824

Tiger, Let me leave a few thoughts for the next year. There is no general rule of thumb for successful breakouts, regardless of the x's and o's as they line up on a P&F chart. P&F is just a print of supply and demand, and unless one couples price volume action, market sentiment and fundamentals ... one can not gauge the sustaining power of any short-term move. Take ASND as an example. When we first talked about it, 57 was a first trading target, a clear resistance point. It would take some fundamental news or external event for ASND to break thru the next target of 62. A definitive P&F buy signal occurred when it printed 66 with a trading stop at 60, as so kindly posted by Preston. Based on one's read of the market and fundamentals, one should then gauge the reliability of the signals. I ignored the trade stop ... one should note in a volatile market during window dressing that many stops are often taken out. Have a Happy and Prosperous New Year, to all!