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Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: Jan Crawley who wrote (22182)	6/30/1999 7:12:00 AM
From: Iris Shih	Read Replies (1) \| Respond to of 27307

Jan, A lot of net stocks are forming inverted H & S chart patterns which mirro cboe internet index. Once they break their necklines, lots more upside ahead. From Bernie Schaffer "The CBOE Internet Index (INX) closed at 501.7, up over three percent on the day, breaking its string of failures to close above the 500 level. As we have discussed before in other market observations, the INX has viewed the 500 level with particular reverence. This area was the turnaround point for the April sell-off and acted as resistance once this level was broken to the downside. Today's run completes a technical formation known as an inverse head-and-shoulders. You can see this formation readily from the graph of the INX below. The first shoulder, actually the first portion of a compound shoulder, was created in late May, while the second portion of the compound shoulder was created in early June. Each time the index falls, it reverts back to the neckline, which in this case is near the 500 level. The head reaches its pinnacle in mid-June and comes to touch the neckline near 500 again. The second shoulder is finished with today's INX performance. Following the penetration of the neckline, it is common to see a rapid rise on increased volume. If one subscribes to technical analysis, as we do, then the INX has the potential to rise the length of the distance between the neck and the pinnacle of the head, which in this case is nearly 115 points. " I would either buy on pullbacks or the breakout of their necklines. Good trading today. Iris