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

To: AreWeThereYet who wrote (8517)	11/11/1998 6:59:00 PM
From: Dennis K. Showers	Respond to of 14266

Just to follow up with my post from last weekend. I sold 10% of my position on Friday and tried to buy puts but did not get them because I felt the price was too high. As each day passes the evening star becomes more obvious. (At least to this point) I see this as nothing more than the formation of a bull flag. On Monday the low was almost to the 38% retracement level. I have 21 3/8 as that point. It was encouraging to see the heavy volume at that level. Volume is drying up as we approach that level now. That low point of 21 3/8 also closed a very small gap that I had on my chart. If it doesn't hold here then I would expect that we may continue down to the 50% retracement at 19 13/16. That should be the next layer of support. You will also notice that that level seemed to have importance on 11/27, 11/28, 11/29 and 11/30. Finally, if that point doesn't hold then the 62% retracement is to 18 5/16. Note that on 9/28 we closed at that level and that day was the point where we began to correct from our 1st move up and that correction formed a nice bull flag. The correction was just short of 62%. FWIW Whitetail