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Technology Stocks : HS - CHS Electronics -- Ignore unavailable to you. Want to Upgrade?

To: John Howell who wrote (655)	6/11/1998 12:57:00 PM
From: Gregory Cole Brock	Read Replies (1) \| Respond to of 1494

John, The pattern doesn't fit my qualification for a H&S in two ways. One is for this pattern to be effective( i.e. a good predictor) it needs to come after a long runup. H&S is a predictor of trend reversal. It would have been more effective at the top of last years run. Current pattern also shows a distorted right shoulder. The neckline was punctured before forming the right shoulder. You know I have studied and shorted/bought(upside down) on this pattern for years and this one doesn't fit. Current pattern is a bit weak but take a look at the volume since the last earnings report. Its been trending down ever since. My guess is CHSE is in a consolidation range between the low of 18.5 to the high of 24.5. Will need very strong good/bad news to break from this range. Good time to buy here and sell if you get 23 or so. Heading out to the lake this weekend. Lets hookup. Greg