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

To: Jerry Olson who wrote (19424)	5/2/1999 12:38:00 PM
From: Casaubon	Read Replies (2) \| Respond to of 34811

I am trying to learn and understand P&F terminology fully. I have run into a situation which conflicts with my understanding of the definition of "Bear Correction Market". The stock I am reviewing is VRTX (I know no one here would touch it, and maybe I'll be unloading soon, but I'll probably hold at least until the end of next quarter when they finally have sales figures). If VRTX were in a "Bear Correction" would it not have to be in a three box reversal to the upside? If this is true, should it not be "Bear Confirmed". As I write, and reread the defintions, I believe the answer lays in the fact that the Sector (not the stock) has reversed to the downside from above the 30% level, but has not yet broken below the previous bottom. Furthermore, if the sector had reversed down from the 70% level, it would be bear alert, and then go directly to bear confirmed if the sector should drop below a previous low?