[isatrader]

... Scanning some messages on the board and reading this one...
MIFI has a very strong so called point and figure 'fulcrum' pattern and is nearing a break out (pattern type full catapult as described by Victor DeVilliers in his wonderfull book Point and figure charting, first edition 1933, revised edition in 2007).
See http://www.scribd.com/doc/77610629/De-Vi...e-Charting
See also the attachment of a 1 box reversal chart. You can see similarity with the downward channel in MIFI, a mid rally $4.25 and a possible catapult point at $4.5. The pattern is confirmed on a so called 3 box reversal chart.

On a point and figure RS chart (relative strength measured against the SPXEWI), you can see a basing area with a triple top buy signal. Promising.

MIFI is the one of the stocks I'm watching closely this week, as it's volume looks like it might reach the 2x average weekly volume requirement of the method by the end of the week and has good relative strength versus the market as you mentioned.

I've attached the P&F 3 box reversal chart of it again, and included the relative performance chart you mentioned versus the S&P 500 equal weighted index to show the relative strength breakout you mentioned to our other members not so savvy in P&F charting, as they might not understand what you mean.

I've also attached the monthly line chart that shows it's forming a monthly Stage 1 base (it's already in Stage 2 on the standard weekly chart), but is another way of showing it's progression on a long term scale similar to the timescale that a P&F chart shows.

My personal game plan with this one is to keep an eye on it until Friday, and then make a decision during the trading day as to whether I will put on a position or not. But it does look interesting so far this week.