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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Francis Chow who wrote (16426)	6/6/1998 11:11:00 PM
From: Clint E.	Respond to of 68978

Francis, Pls direct your question to Jim or Harry, both very capable TAs............good luck.......Clint

To: Francis Chow who wrote (16426)	6/6/1998 11:31:00 PM
From: j g cordes	Read Replies (1) \| Respond to of 68978

Francis, INTC has anything but a classic H&S... its actually had two just recently_ one in late February and one in early May. The larger pattern which goes back two years might be a h&s or rounding top if it breaks below the trading range support of 64ish.. Just a comment on patterns.. they can be powerful because TA has been popularized to where a pattern is self fulfilling. I've also seen many cases of say an H&S pattern develop and it looked like a sure thing to many people.. the stock drops right on cue.. then once all the players were roped in it reverses and kills their puts and short positions. This is particularly true with a behemoth like INTC.. it has resources and depth.. so play it with a fundamental and technical appreciation and be on your toes. A major break would find support at 54-56, its just too well entrenched a company in world semiconductor work to expect a lot less. Jim