Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Why the markets will continue higher... -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (305)	1/3/1998 7:09:00 AM
From: bearshark	Respond to of 745

Hi GZ: I agree with the possibility of a blowoff. Even if there is a breakout from the triangle to the top, there is typically a return to the apex or the cradle point. That would support a blowoff and a breakdown. I will have to play some with the inverted head and shoulders.

To: GROUND ZERO™ who wrote (305)	1/3/1998 7:24:00 AM
From: bearshark	Read Replies (2) \| Respond to of 745

OK GZ: If we go back to my triangle and consider the first leg to be from the 8/97 high to the 10/97 low, I can get a minimum breakout amount of about 1100 DJI points. If we add that to the 8160 potential breakout level that would come to a DJI high of about 9260. How do you get the 9600 potential from the inverted head and shoulders? By the way, there has been a lot of talk about CSCO on the BK and the Mohan threads. I toyed with the idea of tangling with it but then figured it acted too much like a porcupine. It sure has been prickly towards any bears the past week. You know, I am starting to sound crazy to myself about these potential breakout targets. Of course, a breakout from the 7750 level would be a decline to about 6650.

To: GROUND ZERO™ who wrote (305)	1/3/1998 7:28:00 AM
From: current trend	Read Replies (1) \| Respond to of 745

GZ-- >> This pattern suggests a measured move to around 9600 for the DOW. Where does 9600 come from in the head and shoulders pattern? Is there a time component to this projection by this technique? CT