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

To: Bleeker who wrote (3004)	1/11/1998 8:25:00 PM
From: Dennis K. Showers	Read Replies (2) \| Respond to of 14266

To all: I have been a lurker for several months on THQI and many other threads. I have come to know many of the most esteemed posters ond feel that generally there is little that I can add to most of the very intelligent information that I read. I tend to be a TA person more so than an FA person but know the value of knowing great fundamentals to find a good company and then using technical analysis to choose an entry point. To date I am long from 9.75, 12.5,15.5,16.5, and 18.875. This brings me to the reason that I have left the security of the darkness to make this post. I feel that the low for the recent correction has been established. I base this on the following criteria. 1. We have retraced (from the last correction in early to mid December when we formed a double bottom at 17.5 to the recent high on De. 31 at 23.6875) to the Fibonocci 62% level. 2. The trading activity on Thursday and Friday set up a powerful Harami Cross pattern that can signal a change of direction. This pattern is more accurate at predicting tops than bottoms but is still quite reliable. 3. The action on Tuesday and Wednesday indicated indecision with the current trend (down) as shown by the open and close being nearly equal with the price fluctuating above and below that level. 4. Short term support can be derived by projecting a line from the lows on October 28 and December 15. You can see that the low on Thursday and Friday were right at that level. 5. Since early September short term corrections have always stopped just short of violating the 50 day moving average and we are now at that level. 6. Although double bottoms are better indicators when there are several days in between them, we formed a double bottom on Thursday and Friday. 7. The fundamentals have not changed. (I am become one of Todd's disciples) It is because of those reasons that I will increase my current position on Monday. Just my very humble opinion. Back to the sanctuary. Whitetail