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

To: Jerry Olson who wrote (15109)	3/7/1999 1:47:00 PM
From: Ben Antanaitis	Read Replies (1) \| Respond to of 34811

OJ, do "ALL" bullish triangles have to start with O's??? in LU's case they are in X's...i thought bullish tri's have to end with o's and then pop...no??? No. The only 'rule' for triangles is that they should be five or more columns wide. The trick here I think is that you have been looking at the examples in the 'book' and taking them too literally. For example: X XO X XOX X XOXO X XOXOX X XOXOXOX <- seven columns wide XOXOXOX XOXOXO XOXOX XOXO XOX XO X X Is a perfectly good bullish triangle. So is X XO X XOX X XOXO X XOXOX X XOXOXO X XOXOXOX X XOXOXOXOX <- 9 columns wide XOXOXOXOX XOXOXOXO XOXOXOX XOXOXO XOXOX XOXO XOX XO X X With a 'minimum' five column triangle then you get the effect you are seeing 'start on an O and end on the X', but in reality it just depends on how 'tall' the initial columns are that go into the triangles construction, and the ultimate 'width ' of the triangle plus the direction of the 'breakout'. That help? Ben A. ez-pnf.com

To: Jerry Olson who wrote (15109)	3/7/1999 1:56:00 PM
From: Ms. X	Read Replies (4) \| Respond to of 34811

Hi Jerryberyy.. I feel the need for a read... I love that!!! I saw Bens excellent response to your question on Bullish Triangles. I agree with him and woul also add that you can have triangles with less than the required 5 columns. They are not as explosive as the larger triangles but still valid. You will get a feel for these as you look at charts more. LU wouldn't be working a triangle here. The pattern is a triple top and if it completes this double top, it will be a bullish catapult (very nice). LU is looking good here. Has held the support above 94 very well. GTW, very interesting. I like this entry for trades Jer. Pulled right back to support and entry at 68 or 69 gives you a great stop point. Calls would work well. Glad you brought it to my attention :-) Firm stop of 66.