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Strategies & Market Trends : Rande Is . . . HOME

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To: moufassa7 who wrote (34014)	9/7/2000 11:39:48 AM
From: JLS	of 57584

Good point Moufassa, yesterday I was also looking at the COMPX daily chart and noticing the similarities between now and the July selloff where we did get an up day after three days of selling to be followed by more selling. Yesterday there was almost a test of the 200 day moving average, not quite but close. However, I'm not convinced that this downturn is over which may make me late to the party, but I am very interested to see what happens tomorrow (how closely it mirrors July, if at all) and whether we test the 200 ma and how/if it holds. The indexes have a history of violating these support levels, and these three days of correcting seem a little too quick and comfortable to have me convinced that the worst is over. We did however, toward the end of August, on a weekly chart reverse the downtrend in the COMPX which began in April, so this could be giving some support around the 4000 level. I'd love to hear other takes on this topic. Julie

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