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----- Original Message -----
From: "Brian/Louise Garnant" <babakid@xxxxxxxxxxx>
To: "[ tradergirl ]" <tradergirl@xxxxxxxxxxxxxxxxxx>;
<omega-list@xxxxxxxxxx>
Sent: Tuesday, May 23, 2000 6:46 PM
Subject: ANOTHER QUESTION
> That sure looks like a head and shoulders that formed and went below the
> neckline today on the Nazdaq, or is my imagination doing doubletime? Or
has
> this been posted and I am a little short on the uptake?
I am not so sure it is/was a head and shoulders but a top, and two lower
tops that followed,
with support at, like 3189, which didn't hold. I don't see very much
support on the future,
so I am going to download some backdata and see where next support might
likely be.
Thank god I am not a stock investor.
> If it is a head and shoulders it is not a very good sign at this juncture.
> The double top at the top spanning the second week through the fourth week
> of March was bad enough, but here and now? My next Fib retracements go to
a
> 2800 even on the futures. Very good support here. Head and shoulders would
> forbode much worse. Classic would be a further sell off, then a rise back
up
> to the trendline, then, oh my, the shorts would be very happy again.
Probably retreat, maybe form a bearish flag over the next god knows how many
days,
and dive a bit more. But who knows, but as far as I can see this is a
wonderful sign,
because volitility is where most of us traders make money, and shorting is
where I
make "twice-as-fast" profits usually. I really prefer gloom and doom days
actually.
> Hope I am seeing things!!! If not, I'll ride that down!
>
> Would like a reality check from someone.
>
> Thanks.
>
> BrianG
>
>
>
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