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

To: Smooth Drive who wrote (12819)	1/19/1999 6:44:00 AM
From: Bwe	Read Replies (1) \| Respond to of 34811

Good morning, Eric. I'm bullish on DIS as I've previously discussed. Your DIS chart and the highlighted secondary trendlines show the importance of paying close attention to them. P&F charts cannot be fully understood without them, IMHO. Where exactly does DIS' "official" BSL begin exactly? My Chartcraft long term chart goes back to '91 and DWA's chart goes until '87 and the low used to begin the BSL is not visible. DIS' BSL must be one of the longest lasting unbroken BSL's. Anyone else know of a stock's BSL that has gone over 11 years without being broken? October's retreat to $23 looks to be the closest the stock has come to approaching this longest of long term uptrend lines. A break of this BSL would certainly be a significant chart event. Because DIS has such well established trendlines that can be relied upon to impart meaning, signals given by breaks of the secondary's, unofficials, RS upmoves, etc, are quite significant. Therefore, when the unofficial BRL was broken at $34, this sent out a very bullish signal. The RS upmove that followed was also a most important signal. I would expect Disney's chart to avoid a High Pole at $33 because of the previously mentioned bullish chart action. A STUL could provide support at $31 in this current column of O's, however, I don't believe the stock will reach those levels. I see DIS with the potential to reach the brl, now at $40, on the next reversal. The next challenge will be the horizontal resistance, is that what you call it, Eric, between $40 - $42. These were the April and July '98 tops. Not so coincidently, the next brl3 is at $54, one box above the stock's bullish po. I guess my theme for this message, Eric, is that when a stock such as DIS has such longstanding and reliable trendlines, it pays to pay close attention to them. Take care my friend. Bruce

To: Smooth Drive who wrote (12819)	1/29/1999 1:15:00 AM
From: XOsDaWAY2GO	Read Replies (2) \| Respond to of 34811

Thanks, Eric. I don't know how to keep the different brl, bsl, BRL BSL straight. Some people use them one way and others another way. Just about the time I think I have it figured out, it's different! Where you have brl shown on the chart, that is bullish resistance line, right? So, BSL Bullish Support Line, brl bullish resistance line, BRL Bearish Resistance Line and bsl bearish support line. Amazing how that AA chart stays right in that channel! I'm slowly but surely "getting it"! Thanks again.