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Pastimes : Silicon Investor Moderated Chat -- Ignore unavailable to you. Want to Upgrade?

To: SI Moderator who wrote (109)	11/20/2002 4:02:22 PM
From: Teresa Lo	Read Replies (1) \| Respond to of 170

Thanks for having me here. For a long time now, everyone has been following a huge head & shoulders on the monthly charts of the Standard & Poor’s 500. Everyone sees the head & shoulders on the monthly chart of the Dow Jones Industrial Average (DJIA). But if you think about it, a lot of head & shoulders are very shallow formations. They can also turn out to be big triangles, or sometimes wedges. It just depends on what happens at the neckline. Tons of people have bet that it breaks from here...and they're short. From what I can see at the web site, most investors have left the market, like Elvis has left the building, and the ones left are all anticipating a huge drop from here. Can they all be right? Or will the market (as usual) trap the majority, as it did at the top?