INTU - Intuit Inc.
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     hershy
Member
Username: hershy
Post Number: 1892
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Thursday, January 25, 2007 - 07:28 am: |  
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Looks like a reasonably safe trade,
A move above the blue line would provide a good entry although the chart does show 2/3rds of an inverted H & S pattern. A breakout now or later from the H & S suggests reaching previous highs around the top end of $35, a nice 20% approx. move. ATH is around $45.
I don't have a plan so nothing can go wrong !!!
http://members.optusnet.com.au/~hershy/
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peter1
Member
Username: peter1
Post Number: 153
Registered: 12-2005Rating: N/A
Votes: 0
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| | Thursday, January 25, 2007 - 10:03 pm: |
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Ha Ha Ha..... "2/3rds of an inverted H+S pattern"
Are you trading what you think or what you hope?
Com'n Hershy you are much more knowledgable than this.
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hershy
Member
Username: hershy
Post Number: 1895
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Friday, January 26, 2007 - 05:07 am: |
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I knew what I was saying but I may not have said it clearly enough.
I trade breakouts. If the breakout comes now, I am ready. If however the price bounces back to later return for a third attempt at a b/o, thereby completing the H & S, I will be ready then
As it happens, last night the neckline proved impenetrable so my maybe scenario looks more real.
Still waiting for the breakout.
I don't have a plan so nothing can go wrong !!!
http://members.optusnet.com.au/~hershy/
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hershy
Member
Username: hershy
Post Number: 1916
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Tuesday, February 06, 2007 - 08:21 pm: |
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8/10th of a H & S ?
"The safest way to double your money is to fold it over and put it back in your pocket."
http://members.optusnet.com.au/~hershy/
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peter1
Member
Username: peter1
Post Number: 157
Registered: 12-2005Rating: N/A
Votes: 0
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| | Tuesday, February 06, 2007 - 09:02 pm: |
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OK you are being cheeky now. Why wait for the other 2/10ths?
Lets try the old 123L using the higher low to kick this along. We missed the TTE. Of course I would check for any pending reports and to consider carefully before committing any real money on this trade.
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hershy
Member
Username: hershy
Post Number: 1917
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Thursday, February 08, 2007 - 06:57 pm: |
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Peter,
Your idea has merit. The brave, the aggressive, the foolhardy
enter before the crowd and they make (loose ?) far more than the crowd do. I have been known to jump the gun when I just knew that the price would take off in the direction that I was hitching a ride to. But I try not to do this any more.
So lets get into it. I mean let's analyse Intuit.
1, Ascending triangle.
2, Two H & S patterns unfolding, one horizontal and one inclined.
3, Gap upstairs waiting to be closed.
4,(Not shown) 20, 34 and 200 MAs all below the action and all heading upwards.
5, momentum kicking up.
6, Triangle breakout has a target above horizontal H & $ neckline.
7, Inclined H & S neckline will be penetrated by any move to a higher price.
8, Volume decreasing as it does prior to break outs.
"The safest way to double your money is to fold it over and put it back in your pocket."
http://members.optusnet.com.au/~hershy/
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