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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (19538)	5/31/1998 10:47:00 AM
From: robert b furman	Read Replies (2) \| Respond to of 94695

What Are The Time Periods Of The Shoulders (and Price Ranges) As You Look At The Distribution Head And Shoulder Pattern. Where (in Price range Do You Draw The Neckline?) If I Am Looking At The Same H&S You Are It Has An Upsloping Neckline My neckline connects At: 62.88 on 03/25/97 67.38 on 12/22/97 71.25 on 05/29/97 This one Surely Is Recent HUH? I Place The Top Of The Head At : 102 on 08/06/97 A Quote From A Technical Analysis Book From My Meager Collection Of Learned Stockmarket Authors Suggests : "The Minimum Price Objective After A Head And Shoulder Neckline Break Is The Same Distance From The Top of The Head To The Neckline" IF We Agree On The Same 1997 H&S Formation - The Downside Would Be: 102.00 71.25 _____ 30.75 This Would Leave A Downside Target Of 40.5 (Just Happens To Be A Significantly Scary Zone) " INTEL DROPS TO THIRTIES " This Scenario Sure Is Negative And Would Certainly Take My Tech Stocks Down With It! However Your H&S Is Noted. I Really Do Believe That Intel Is A Bellweather However I Also Believe That IBM Plays A Similar Role IN Providing Leadership With In The Tech Stock Sector. No H&S Here But Rather A Very Nice Series Of Consolidations With An Upward Trend. What Protects Them (Being A Service Provider As Well As Manufacturer?) Great Observation - Thanks For Sharing It.At What Point Would You Re establish Your Put Position and How Far Out? MUST BE CAREFUL! Bob