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

To: Bwe who wrote (12884)	1/21/1999 10:19:00 AM
From: quote 007	Read Replies (1) \| Respond to of 34811

bruce, i have been following se---could you give me your current read on it please? if long would you get out on this double bottom break?-or would you give it room to 37 a violation of bsl--32 a triple bottom break--or 30 a violation of its BSL??? thanks stuart

To: Bwe who wrote (12884)	1/22/1999 12:55:00 AM
From: Smooth Drive	Respond to of 34811

Evening Bruce, Here's a repost of your words of wisdom, and a bit of the chart. Good morning, Steve. CMB's p&f chart continues to look very good. The theme I want to stress with regard to CMB's p&f chart in this update is confirmation. The stock has reversed in textbook fashion from it's October lows. From bullish bottom fishing p&f chart patterns (low pole buy signals) in October, to strong trading buy signals, to the key break of the Bearish Resistance Line in late October, and the final piece of the change of the stock's main trend, the bullish reversal on CMB's relative strength chart in December. From there, CMB's p&f chart has given a series of confirming buy signals and on two occasions, has shrugged off very bearish High Pole chart patterns. A sign of strength to be sure. The price objective is still $98. This will not change until the stock gives a short term sell signal which would occur at $68. Key downside support is at $63 from a bsl and at $64 from a Revised Bullish Support Line (RBSL). The official BSL is at $51. I would expect CMB to reach it's po by years end. Yesterday's move to $78 gave another confirming double top buy signal that simply adds confidence that the stock should continue to move higher. A minor trendline was broken again for the second time at $76 and that is also a confidence builder. The next Bullish Resistance Line is at $86, and another is at $97. Eric, if you get a chance, would you kindly post a portion of CMB's p&f chart. Thanks in advance. Take care, BruceM 80 79 78 X + < 2nd Bullish R/L 77 X X O 76 X O X O 75 X O X O 74 X O X O 73 + X O X 72 X X O X 71 + X O X O X 70 + X O X O X 69 + X O X O 68 + X O 67 + X * 66 + X X X * 65 + X O X O X * 64 + X O X O X * + < Revised Bullish S/L 63 + X O X O X + * < Bearish Support Line 62 + X O X O X + 61 + X X O O X + 60 X O X O X + 59 X O X O + 58 X O X + 57 X O X 56 X X O X 55 X O X O 54 * X O X 53 * X O X 52 * X O 51 X + < Bullish Support Line 50 X + 49 X + 48 X + 47 X + 46 X + 45 X X + 44 X O X + 43 O X O X + 42 O X O X + 41 O X O + 40 O X + 39 O X + 38 O X + 37 O X + 36 O + 35 + 34 Long term bullish (trading above the BSL) and short term bullish (on a buy signal). Price objective of 98: ((133)1) + 59 = 98. Take care, Eric