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Strategies & Market Trends : Classic TA Workplace

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To: jjstingray who wrote (123046)	8/18/2005 10:15:38 AM
From: The Freep	Read Replies (3) of 209892

I don't think that's a H+S pattern on GOOG, fwiw. The volume pattern isn't right, as the head should have the lowest and the down volume after the peak should always be stronger than the up volume. In a world full of stocks breaking down <g>, GOOG would be about the last place I looked to short. Meanwhile, XOM has overshot any logical "test" zone. Maybe it needs a lower price to finish that consolidation and morph it into something bigger? That was quite a drop. A 50% retrace of it merely gets XOM to test the failed breakout line from below! Certainly not what I expected either... But I am just a freep

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