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Strategies & Market Trends : TA setups-ex th traders -- Ignore unavailable to you. Want to Upgrade?

To: John Mav who wrote (5862)	2/7/2005 9:33:21 PM
From: cthruu	Read Replies (1) \| Respond to of 7682

Once again: the chart patterns of 1999/2000 are etched in my mind and having made and lost a bunch through that era, rest assured that they will never go away. I am not saying that ASKJ now will follow YHOO pattern back in 2000. However they if you look at these charts, similarity could not be more striking.. the difference is, at the beginning of YHOO bubble in 1998 it was trading at around $10 and ASKJ in November 02 was around $2. Thus while YHOO went up by about 1250% over the next 16 months, ASKJ went up by about 2250% over the next 16 months - a steeper bubble. This is second bubble for ASKJ. it peaked at 190 back in 99. I'd say chances are pretty good that ASKJ will fail the support in 23-24 area. How low will it go? I do not know. Is it likely to bounce? may be. I have seen very few come back from this pattern - and ASKJ is no AAPL. ttrader.com\'s%20charts&id=879&d=2 That is just my opinion - which could be wrong. For the time being I am holding ASKJ puts and plan to turn the calls into a bear spread. Unless ASKJ takes out 33-34 zone from this triangle, technically it is not going anywhere.