Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: jjstingray who wrote (53866)	4/21/2002 1:14:13 PM
From: augieboo	Read Replies (3) of 99280

JJ -- re QCOM H&S pattern... stockcharts.com[w,a]dhclynay[dc][pe20!b3!f]&pref=G I think you're right about there being a H&S forming, but it's not a reversal sign. It looks like what Murphy calls a "continuation head and shoulders pattern." He says that The head and shoulders pattern can sometimes appear as a continuation instead of a reversal pattern. He describes it as similar to a rectangle, except that In a downtrend, the middle peak in the consolidation exceeds the other two peaks. (The description doesn't really do it justice, but the graphic Murphy uses looks an awful lot like QCOM's chart right now.) Might be a good time to short QCOM for those who are so inclined. augie

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