Stock Attack -- A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: bobby beara who wrote (36227)	11/24/2000 9:39:44 AM
From: Paul Shread	Read Replies (1) of 42787

BB, great observations. A few observations based on your own: AOL looks like a descending triangle from 75-50; could be headed for 25, which IMHO is a much more reasonable multiple anyway. BA is definitely a broadening top. A close of 52-53 should carry it to 37(!!!) A pretty damn big sell-off for an old econ stock. The high around 70 could be a good shorting point, since it is on a line with the previous two peaks. On the SPX H&S, I believe the neckline was touched at the 1322 low Wednesday, at least the way I would draw it across the head and right shoulder (eyeballing - will post a chart later). FWIW, SPX broke an H&S to the downside a year ago before taking off like crazy to the upside. Given the definitive break of the SPX 94 log trendline Wednesday, it sure looks like The Big One may still lie ahead... But be careful - we have a bad record when agreeing. ;-) We shoulda focused on that JNPR broadening top last month. Those patterns never lie. Probably the most reliable major topping pattern there is. Requires an out-of-control market to form, which is the very definition of a top.

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