THQ,Inc. (THQI) Message Board

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Technology Stocks : THQ,Inc. (THQI)

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To: Sigmund who wrote (3123)	1/19/1998 10:47:00 PM
From: Richard Spitzer	Read Replies (1) of 14266

Regarding the so-called head and shoulders, I think it's relevant to look at the bigger picture. O'Neil states that the head and shoulders formation is one of the two best chart price patterns for selling short, but adds "It also helps if the stock's quarterly earnings are showing substantial deceleration in its rate of increase or have turned down. Furthermore, the stock's relative strength line should be on a clear downtrend over at least 3 or 4 months..." Neither of these conditions even remotely apply to THQI. Relative strength was outstanding from October through December. Furthermore, review the chart from mid-June through mid-August last year. That was a far more prominent head and shoulders, yet look at what THQI did then. It declined just 10% from the shoulder of 10.25 down to 9.25, and headed straight up. Does anyone really want to risk shorting THQI? I see the current January decline as simply a paralleling of the NASDAQ trend, in these sluggish days before earnings release. Rich

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