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

To: Jerry Olson who wrote (15652)	3/14/1999 3:38:00 PM
From: chartseer	Read Replies (1) \| Respond to of 34811

Hey Bruce! Where are you? Bruce has been noticeably quiet since his posting set into motion a commotion. Then again what the heck do I know? Chartseer

To: Jerry Olson who wrote (15652)	3/15/1999 6:16:00 AM
From: Bwe	Read Replies (1) \| Respond to of 34811

Good morning, OJ. Wasn't online much at all this weekend. Family stuff and a Ranger game kept me away from the computer screen. Sorry for the delay in responding. Your read on GTW is right on the money, OJ. Coming off the HPT at $75, the Bear Trap suggests higher prices. Adding significance to the short term bottom at $66 is the BSL (Bullish Support Line) now at $66. A bsl (Bearish Support Line) also provided support. The 10 week MA is at $68 1/2 so an upside break through that price would also be bullish. There's a brl (Bullish Resistance Line) at $76 that could limit the upside from a buy signal at $74 so I'd be more comfortable buying the Bear Trap formation rather than waiting for the buy signal. I'd keep a Bearish Catapult stop at $64 - $65, right below a BSL break. BTW, there's lots of insider selling in this one, however, that's not all that unusual for a tech leader like GTW. RS B+ (RS on Buy signal and in X's) and that's a good sign as some leaders, CSCO and MSFT come to mind, are RS B- (RS Buy in O's). Take care, Bruce