BC and MC -- as I thought was clear from my posts yesterday, I was asking AJ why SBUX wasn't the same pattern as all the others he's spotted (which, as he's pointed out, are largely still in play). I dcan make the argument that the SBUX pattern was one of the better ones of that ilk, and might even fit the volume/positioning metrics of a true H+S bottom. Many of the ones AJ has found are merely SHAPED like one, to my eyes, and therefore are probably some other pattern. Doesn't mean they won't hit similar targets.
SBUX is a good example of this. I dunno if it's an iH+S. As you well said, the decline into it was actually pretty substantial and unusual for SBUX -- some sort of trend change, certainly, though not sure what time frame. Still, if that was a trend change, then within that same timeframe, this could be an H+S bottom. I frankly don't much care. My big question for AJ was "why is this pattern different from all other patterns?" (I actually have four questions, but only asked one <g>). He told me why he viewed it differently... and that's all I wanted to know.
I agree with MC that many of AJ's patterns aren't "real" inverse H+S. But it might just be a terminology issue. Some of the longer term ones might very well be perfect bottoms... and they point a lot higher. So they're definitely worth keeping an eye on....
Who knows, maybe KLAC and MERQ and others reporting tonight will get us there tomorrow <g> |
