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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (135062)	8/2/2006 10:34:22 PM
From: Henry J Costanzo	Read Replies (2) of 209892

OXPS...Hope I don't jinx this for you, Shack.. but I'm with you and willing to give it a shot. Looks like a valid H&S top, with a proper volume pattern (the chart looks spotty on that...but the spikes near the tops of the head and the right shoulder are all on pullbacks). Looks a little unusual, with the first drop before the neckline test almost fulfilling the entire measure...OTOH, the ease of those relatively large moves down and then up again for the retest could bode well for a pretty rapid decline to the 19/20ish target. (unlike the Freeps and Shacks, the MCs make no attempt..as you know... at Ewave counts of individual stocks..LOL)

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