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Technology Stocks : Stock Swap

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To: SE who wrote (12637)	3/9/1998 2:18:00 PM
From: Trader X	Read Replies (2) of 17305

If...then.. If: Intel is making a head/shoulders formation that spans over 12 months time... then: the semi sector and possibly the entire tech market will soon go into a giant bear market that lasts 2-3 years, as INTC heads back to a minimum of $40, perhaps as low as $30. imo, it just aint gonna happen. Be aware...a head/shoulders is only speculative until it breaks the neckline of support, THEN fails to rise back above that line on the reaction. The failed rally is important as the neckline break, perhaps moreso, since a break can occur that is overcome on the reaction. Failure must occur 3 times: Failure to make a new high. Failure to hold support at the neckline. Failure to rise above the neckline on the reaction. Three strikes and yer out. -kh

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