Price does indeed break support (see arrow), and we are stopped out of half of our long position. After a brief rally, WMT slips back to long-term support between 11 and 12. This is a price level which has been well-tested over...

We have traded WMT in the past both long and short. But the upside potential for the stock is now so great that we resolve to hold our shares strongly and to increase our position as new evidence adds to the bullish case. From P...

A corrective rally to N recovers nearly one-half of the decline from K to M. The rally peters out on low volume before price falls back to test support at 11. Volume picks up on this test, and we conclude that buyers are again...

A one-half point chart of WMT provides two preliminary upside targets. The first count of 2 1/2 points (1/2 x 5=2 1/2) across the 11 row offers a target of 13 . This count makes sense to us since it returns WMT to the high point...

Indifferent relative strength kept us out of WMT during 1992, even though the stock’s nominal price moved up over that period. As 1993 gets underway there is little evidence of organized distribution, apart from increased...

Computing Relative Strength Here’s a mental experiment in relativity: Imagine that you are standing on the bank of a river watching a motorboat race. How would you determine the speed generated by the boats themselves...

After we sell short at L, we have only to wait for the index to tell us whether our judgement is correct. Our stops are placed above near-term supply, at a price just over 155. The index begins to ease downward on only modest...