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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Rick Escher who wrote (6244)	2/13/2000 9:12:00 AM
From: sandbag	Read Replies (1) \| Respond to of 24042

Rick, JMHO, but I believe you have drawn your baseline incorrectly. If you want a more technical explanation on all triangles, you may want to check the examples of these...at chartpatterns.com or some other patterns at members.aol.com The charts were developed by an old SI member with great TA and FA credentials, Rainier Trinidad. Check his profile.. Member 2940690 I hope the info helps. Some of the biggest problems investors have is incorrectly drawing their lines and creating patterns that are not there or are inaccurate.(not directed at you) Best Barry [edit] notice the charts showing a long term uptrend with a decrease in volume in the penant and the price stabalizing just before a major break up. Specifically NYG Unleaded gas and Live Hogs. chartpatterns.com

To: Rick Escher who wrote (6244)	2/13/2000 11:29:00 AM
From: Guy Gordon	Read Replies (1) \| Respond to of 24042

No, I don't see your descending triangle. You see that low of 181 on 1/31/00? It does not fall within your triangle. Don't you feel that's a valid point on the chart? If you include it, the triangle becomes a pennant. OTOH, if you are going to ignore that point, why not ignore others? Where do we stop? These are some of the reasons I distrust TA. It's just too easy to fudge. Now, concerning triangles & pennants: let's consider for a minute what is really happening to create them. They both consist of two lines -- resistance on top and support below. These two lines are converging. What that means in real terms is that there are sellers and buyers fighting it out. Whenever the price rose high enough the sellers step in, and when it falls low enough the buyers step up. Since these lines are converging, that means that these two groups have arrived at the same price. Whichever group is smaller will now have bought/sold all their shares. This is why the volume is drying up. So which way will the stock move? I really don't know. But my feeling is that there is too much interest in fiber optics for JDSU to drop too far. Too many funds have been buying in. For example, IBD lists what stocks top-ranked funds are buying, and JDSU is always mentioned. And we know of one source of selling, and that has dried up. So my guess is that JDSU will climb higher after exiting this pattern -- unless the entire market tanks.