Hi Jeff,
I have (2) that I am watching: SPWR and NITE. I'd appreciate your thoughts on these...

Jeff,

I'd love you to look at my old nemesis BUCY again. I took the symmetrical triangle breakout on Dec. 18th. It had a nice run up to $52 and then came back down on stronger than average volume, yet has not pierced the triangle yet.

This is not a psychology issue, since i've gotten very good at watching patterns fail, but is this a situation where you would have used the ATR, or just wait for a break of the triangle?

Also, any other opinion you have on the stock would be welcome.

ADBE
Double Top with potential move of $4.50 after the break from the neckline at $37.64. Potential target = $33 area

Alessandra

Alessandra-

That's so funny. up until today, i had ADBE on my radar as an ascending triangle. I suppose if it closes above $40 it still is one.

Jeff,

How about PCP. I had it breaking into a new 52Wk on 1/3. However, it has been channeling nicely since the end of September. So, on 1/3, would you consider that a 52Wk breakout, or a continuation of the uptrend or maybe it's both ? Just curious.

Thank you.

Mark McQ.

Hi Brett,

Yes, I can see your ascending triangle too. The only thing I would not consider like a nice ascending triangle is the action on 12/15/2006, a little above the flat line.
The double top now has a bearish divergence also on the stochastic that is a strong signal.

We keep watching it.

Thanks for your comment.
Alessandra

How about IOC as a confirmed triple top with a target of 22. Would a price pattern override a trendline that could be drawn?

Thanks!

Valerie W

Hey Jeff,
How about HD. Anticipating the bounce?

Bert Hubert
San Antonio

Hi Jeff,

I found MSO today. It looks like a nice uptrend and just recovered from a slight pullback. Rescent higher highs and lows , then a nice up move today on descent volume. I put in a buy @ $22.18. Mental stop around $20.25. My target is $26 due to the last movement of $3. I looked at the options in March 20 and 22.50. I looks loke the 22.50 has a better reward to risk ratio of 3.7/1 comared to Mar 20 with a 1.8/1 ratio. Feel free to come downstairs to discuss this with me tomorrow.

Hey Bert,
HD looks to me like it just broke through some fairly strong support lines yesterday on stronger than average volume. $40 has been a support/resistance level several times and I ran the fibonacci retracements on it from it's previous peak in April of last year and the $40 line comes up yet again as a strong support level. To me... as the Mythbusters would say.... "this trend is busted" Now having said that, it means you should go out and buy a call on it because I'm not doing very well in the Crystal Ball department these days.
Check out VIP with the same idea. I think it's just broken through resistance and is starting it's own downward spiral. Good time to get in on an early downward channel.
Cheers
Chris and Catherine.

Jeff and Alessandra,
I feel like Charlie Brown here. I can see both patterns but don't know what to do about it. The asc triangle looks like it's still got a long way to go before it reaches it's decision point, and the double peak looks like it's going to hit some major resistance/support at about $37.50 If it continues down outside your triangle, Jeff, I'm going to bet on Alessandra's double top and wait for it to wade through the $37.50 resistance to confirm a downtrend.

Chris and Catherine