Gary Tanashian submits: In rummaging through Dow components looking for bargains, I came across that tech stock everybody loves to hate, Microsoft (NASDAQ:MSFT). As usually happens when I see an inverted head and shoulders pattern, I got excited and looked further.
If you don't know by now, I love buying other folks' misery. So I am considering Softie somewhere around the neckline, which the stock has broken out from (click to enlarge):
The stock may only have the 25-26 area (H&S projection & 61.8% fib) in it, but if/when the market gets its act together, it could look to go higher than that with time. Just watching at this time but may add a small amount in the continuing effort to portfolio tweak and balance.