Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 39.19

+8.3%

Nov 26 4:00 PM EST

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To: Henry J Costanzo who wrote (16345)	6/8/2004 10:47:25 AM
From: ajtj99	Read Replies (1) of 207062

mchjc, you can look for H&S tops, but remember my theory - H&S patterns break in the direction of the primary macro trend. If macro trend is up, as I believe it is, most H&S tops should fail, and inverse H&S patters, even imperfect ones, should rule. BTW, I'm a clown believer in COMP 2940 for the high for this current move. I believe we are in a pause just before a parabolic rise. The 1960 area should hold as a low for at least a year, IMO. This should all end in a drop similar in percentage (30%) to the drop in April-May 2000, but maybe take twice as much time to play out.

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