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

To: Riskmgmt who wrote (20750)	6/2/1999 10:17:00 AM
From: Webhead	Read Replies (1) \| Respond to of 34811

Hi all, Well I've dipped my little toe into the shark infested waters of shorts. I noticed that a biotech I follow, IDEC (nasd IDPH)has had a couple of high pole tops and broke the bullish support line on a sell. Yesterdays fantastic rise to 60 from 50 followed by today's drop to 54 sets up (I think) the famed high pole top at the bearish resistance line. So anyway, I shorted a few shares to see if I can still sleep at night... Would someone mind taking a peek at the chart to see if my interpretation is correct? BTW, I track the S&P using standard box sizes on SPY. We just had a sell that broke the (revised) bullish support line and looks like a bullish signal reversal. Looks like the elevator is going down... Ed