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

To: judge who wrote (6883)	7/17/1998 8:48:00 PM
From: Ron Kline	Read Replies (1) \| Respond to of 14266

It's interesting to see the action of THQ recently. If you remember from the past I had said that THQ would break out from a cup formation made 2 quarters ago, and it did with very high volume. Under normal conditions If you had bought the stock at the high you would have made money. What happened was there was unforseen news that was pending and when that happens it can change any TA done on a stock. That is where news plus charts are both important. Anyway if you look at the action in THQ since the bad news you find that THQ tried to test the highs again. This all happened very quickly and if people didn't put in their sells you found that you lost the opportunity because it fell pretty quickly. In fact many people bought thinking it would breakout again. That usually happens in a double bottom formation. Remember Dell after the crash and how it raced up to 100 only to fall back down. same thing. But notice recently the action of THQ. Anyone who wants to sell in the low 30's is able to do so right now. In fact I find it interesting how Todd was able to sell at almost the exact high from the prior cycle. This to me is a clue that the stock has finished it's wild swings and is ready to breakout. There may be some more days (until an official breakout) where the stock will tend to move either down or sideways but on very light volume. The next step for THQ is to break that old high on pretty strong volume. It may take the earnings report to do this but I feel THQ is very close to making new highs. That's how I read it and only time will tell. Ron