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Technology Stocks : THQ,Inc. (THQI)

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To: Sigmund who wrote (2552)	12/13/1997 10:22:00 PM
From: Christopher	Read Replies (2) of 14266

Dr. Elder take on MACD-Histogram. Dr. Elder in his book "Trading for a Living" describe MACD-Histogram on page 131 in his first paragraph on "MACD-Histogram" section as follow: MACD-Histogram offers a deeper insight into the balance of power between bulls and bears than the original MACD. It shows not only whether bulls or bears are in control but also whether they are growing stronger or weaker. It is one of the best tools available to a market technician. In another section titled "When to Expect a New Peak or Valley", Dr. Elder says the following: MACD-Histogram works like a headlights on a car - it gives the traders glimpse of the road ahead. New highs and new lows in this indicator are usually followed by new high or low prices. If you know anything about me then you know that I get excited easiley. This is why I sent memos previously about THQ going up when I saw that bulls were gaining power. However, I did not provide much explanation and people asked questions. They had the right to question my statements. Here is the take on MACD-Histogram and THQ. From 11/07/97 to 11/24/97 bears were in charge and THQ price went from $18.75 to $17.8125. Right after that the bulls took over power from 11/24/97 to 12/10/97 and drove THQ price from $17.8125 to $19.8750. I saw that happening and sent you my first memo on 11/30/97 six days after the start of 11/24/97. During the period of 11/24/97 to 12/10/97 bulls did not only take over the power from the bears but they were in full charge for three days. If you look over the entire MACD_Histogram you will see that every time the bulls were in full charge that happened over several weeks and THQ price moved up to $3.00. For example, the bulls were in full charge from 8/26/97 to 9/15/97 less then three weeks and THQ price went from $10.00 to $13.00. This is what led me to estimate a $3.00 move in price. This move in price in the past occured on more then one occasion. Here is the current status of MACD-Histogram and THQ. Bulls were in full charge for three days but bears took over last Friday. This is the second time where bulls were in full charge for few days and lost it. All other time bulls took over the power long enough to drive THQ price up significantly(few dollars).However, this does not mean that bulls lost the battle for the next few weeks. Bears could have the power for few days and then give it back to bulls again. Bears were shaken out before bulls took over and some time there may be some air pockets left to be shaken. If bears have the power for few days and the bulls take it back then this is a very good sign indicating that bull will probably run with the power for hopefully couple weeks and drive THQ price up. The reason I beleive the bulls had the full power for only three days is because this week has not been a good week for NASDQ. Too much volitality. If the next three weeks NASDQ is more stable then the bulls may get a chance to drive THQ price up hopefully good. I hope this helps. Like Dr. Elder said, MACD-Histogram is like a headlight on a car, it tells you what to expect or what is comming in the near future. I guess every one knows the long term future for THQ is very bright.

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