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

To: Ms. X who wrote (19742)	5/9/1999 12:38:00 PM
From: Casaubon	Read Replies (1) \| Respond to of 34811

BPDRUG will remain Bull Correction unless it penetrates a previous bottom, which on the current chart is at 32% Please correct me if I am mistaken but, the previous low was last october at 24%. Would we then remain in bull correction all the way down to 24%. And, if we were to go lower than 24%, it would then switch to bear confirmed. Then, as you say, the reversal up from below 24% (not 30%) would then generate the bull alert status. If it does go into Bear Confirmed but stays above 30% and reverses up, it becomes Bear Correction. Therefore, this situation can't occur. We can go from bull correction (current status) to bear confirmed (lower than 24%), but the reversal up would be bull alert (not bear correction). Thus it seems the drug sector is looking to be a good play on any reversal up since the field position is so good!