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Technology Stocks : ZENITH ELECTRONICS

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To: Chris Alexander who wrote (365)	5/10/1996 1:41:00 AM
From: Kevin Walsh	of 578

Chris, Two sucker punches in three days - today not as dramatic. Still, it must have anguished some people who thought they were getting in on another run. They will just have to be a little more patient - ZE will go up. Here are my observations on ZE chart pattern. Using 15-minute bars, an overhead line can be drawn from Tuesday's high thru Thursday's high. This overhead line was violated about 1:45. For the remainder of the day, prices drifted lower, staying above the line, on relatively low volume. The daily chart shows a lower closing price on decreasing volume. Today's low is higher than yesterday's low. It's amazing how many times a big run-up will be followed by a 50% retracement (6-26-16). Hindsight is wonderful, but that gap opening on Mon was a sign. The runup and retracement happened much faster than expected. Too bad - those WERE awesome profits. Remind me not to get greedy. In conclusion, these are all positive signs. I believe ZE will be up tomorrow. If it does drop, 15-16 should provide good support. One of these gap openings will become a breakaway gap (like this past Mon) but will never return. Have a great Friday - Boarded on the ZE rocket, Kevin Walsh

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