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Technology Stocks : THQ,Inc. (THQI) -- Ignore unavailable to you. Want to Upgrade?

To: Andrew C.R. Biddle who wrote (12998)	2/5/2000 10:40:00 AM
From: Dennis K. Showers	Read Replies (3) \| Respond to of 14266

I have been looking at the charts trying to find something bullish to say about the short term patterns. I don't find much. 1. The dip below 20 was met with a small spike in volume. 2. The 200 day moving average usually means support. Although, you will note that it can go past substantially before the stock turns around. The period below the average is usually short lived. 3. 20-22 should provide support. If you note that the highs in late 1998 when THQI formed a double top were at 21. I believe that the resistance at that time should be some support at this time. This is also a Fibonacci 50% retracement. I'll elaborate below. 4. I have projected a resistance line on my chart that connects the high on Dec 3 with the high on Jan 10. I will consider any close (with volume) above that line to be bullish. A close of more than 3% above that line would signal a reversal, especially if it forms some type of chart pattern. 5. I have my support line drawn from the high on Sept 17 and low on Oct 18 and the low on Feb 1. It is interesting to note the gap through the line in Sept. I had trouble deciding where to place this line and could argue that it could be drawn several different ways. This is the one that I like. Obviously, I don't want to fall below this line. 6. These lines form a huge bull pennant on the chart that I believe we will break out of in the next couple of weeks. This breakout could coincide with earnings. Who knows. 7. OK, what does all this mean? In the past 3 years we have corrected several times. When we correct I use Fibonacci ratios to predict support. (This really gets me excited). A. Using the low in early 1997 as the starting point, we rose to a double top and left an island as we corrected. The resulting support was at a retracement of 62%. B. We rallied again to go past the double top and then corrected again. This time we stopped at a 50% correction and the 200 dma. C. We rallied again to a new high. Enter WCW fiasco. The resulting correction took us down through the 200 dma and through the Fibonacci support of 62%. But only for one day. The next day we rallied hard forming a reversal pattern (candlestick tower bottom) and also finding new support for a while at the 50% level. D. We rallied to form the double top in late 1998 and early 1999. The resulting correction took us to the 50% retracement and formed a reversal pattern (candlestick piercing pattern) in mid March. E. We rallied from that level to our recent highs in Nov 1999 and have corrected to where we are today. We are sitting on the Fibonacci 50% correction. This 50% level is also the high of the double top formed last year which adds to it's strength. Those are my thoughts. I don't know what they mean exactly. I do feel that this may be a very good entry point. I do feel that we are on support. I do believe that a breakout of the pennant will signal the beginning of a strong rally. Each new rally brings higher highs and the next high could be very rewarding. I have been long term until now but I think that I will trade part of my position on the next rally if I get a good topping formation. The pain of each correction might be dampened if I would take some profits so that I might buy back lower. The fundamentals still look great. I tell my friends that the old saying "Buy low and sell High" seems simplistic but it is really a very basic rule. When a stock is flying and everyone is euphoric and giddy one should consider taking some profits. Conversely when the stock is crashing (and the fundamentals are there), and when the tears are flowing down your face and when you are just about to give up on a stock; reach back and take money from your wallet and buy! Whitetail

To: Andrew C.R. Biddle who wrote (12998)	2/7/2000 2:34:00 PM
From: Andrew C.R. Biddle	Respond to of 14266

Jan. 23 - 29 TRSTS Reports: gamedaily.com Jan. VUD Reports: vud.de Interesting that on the N64 Chart, ERTS's WCW title is at #8 (New) and WM2K is #16 vud.de From German Gamespot site a preview of RTL Football manager game to be published by THQ: zdnet.de It helps a little to cut and paste in the text and choose german to english with this: babelfish.altavista.com The preview of this game came from German Toy Show story in Nuremburg; so was THQ exhibiting at the Show? Andrew