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

To: Dave Shares who wrote (17481)	4/12/1999 12:24:00 AM
From: Ms. X	Read Replies (2) \| Respond to of 34808

Hi David. With price objectives, and I apologize for not getting into exact examples with the stocks you have asked about (I've been pushing it too much and I'm trying to be good yeah right!) here is the deal. You take the column of X's that is present after the last sell signal. This column can be immediately following the sell or several column away. The column of X's you use must be the column that generates a buy signal after the sell. Creating a top doesn't count, it must be a buy signal. You count that column of X's and then times by 3 (the three box reversal) and then times it by the box size (the increments of the box .5, 1, 2) In OMKT's case, the column of X's that generated the first buy signal had not completed yet. You won't know the final number of boxes until it reverses down into O's. If it is still in X's and not followed by a column of O's, you have no idea if it will rise further and thus, changing your count. Stops on internets I agree are very tricky. You can get stopped out early. Take a look at the 5 box charts for internet stocks, that might help your stop point. I hope this has helped. Please let me know if you need anything else cleared up :-)