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

To: Jorj X Mckie who wrote (13508)	2/3/1999 11:53:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 34811

You are speaking of the semi's, yes? The sector reached 80% in December and then reversed down to 60% and the next row of X's and reversal up made a lower top at 74%. 58% would be Bear confirmed. This would also be a small bearish triangle. Of course it could reverse up and be a bullish triangle, so yes...wait and see mode. However, one should be defensive with semi's, watch for RS reversals and charts breaking down etc. You knwo the drill. VECO just completed a bearish catapult. Support down to 46 but I wouldn't touch it even if the longer term trend plus the RS is positive. Sector just moved against it and with a bearish catapult....ehhh don't like it. If one owned it I'd look for rallies to unload it. Jannie