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Strategies & Market Trends : Classic TA Workplace

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To: Jack of All Trades who wrote (134364)	7/13/2006 10:41:14 PM
From: Henry J Costanzo	Read Replies (2) of 209892

SHLD...... Jeff....just saw Shack's post a little while ago, went back for a closer look at the charts, and whadda ya know.... Think there's a H&S top up there, which may have just broken and been confirmed today (suspect that's what Shack saw, but didn't tell us).....If so, it should bounce back to neckline soon.....now at 148....which would be a good short/put entry...And I measure its target all the way down to 133.... Furthermore......still much too early to verify......but the weekly looking very much like a double top formation could be in the works..with a hypothetical potential down to 113, first......and then knock another 50 points off of that !! I think, as I said, much too early, and no real basis for that yet. (Hell, it could just as easily morph into a huge bullish triangle, with a target adding some 50 points to the high.) But that kind of thing would certainly give Shack his "short of the year" ! Here are the charts I've been playing around with. And btw.....lake sounds better to me than NASCAR...LOL

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