[goodtyneguy]

My comment #59 with regard to XLK and chart below:

XLK is currently just above the 30 week MA after closing below it last week at a support level on heavier volume than previous attempts. For that reason I think there is a high probability that it will soon be broken sending XLK into a stage 4A.

   

I would not consider Amazon, you need to look to short stocks that have had a steep ascent with only small congestion areas on the way up which will offer less resistance on the way down. There will be better opportunities to deploy your capital in imo.

   

Bidu - looks good for a trader play but we don't have any market internals for the Chinese stock markets so I would not feel confident in doing any thing with that one.

Cognizant - I would wait for a pull back to the 4A BD level or at least near to it looking for a candlestick reversal pattern for entry. R2R should be calculated using the support at the neckline of the H&S pattern. I would probably take 50% off at that level dependent on how price reacts there. BTW it exhibits the ideal steep ascent that I spoke about above. I will be putting this one one my watch list, thanks.

   

Oracle and Qualcomm, I would not be interested for the same reason I gave for Amazon.

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