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

To: papi riqui who wrote (12373)	1/7/1999 9:55:00 AM
From: james ball	Read Replies (2) \| Respond to of 34811

Sure Paps, going back in the NYSE BP to 1955 you generally find that when the index goes below 30% and reverses up it usually goes coast to coast but somewhere in the middle the risk level changes to flashing yellow light by reversing to Bull Correction status. Bull correction is usually short lived as we outlined on this last one and is usually just a point to become more cautious in your new commitments and management of existing positions than you would when buying at 18% bullish. The next reversal takes you above 70% (naturally anything can happen and ususally does) where the second reversal down is what takes the index back below 30% where the process starts all overagain. The Wall Street Journal discusses how its a depression and we're all doomed, the parade the most bearish person in front of investors each day, Mr. Jones can't take it and sells out, just at the exact bottom like in September and he watches the train leave the station again. Now that everything he reads is positive he has confidence to get back in just in time to get wacked again. T