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Strategies & Market Trends : Rande Is . . . HOME
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To: Smart_Money who wrote (34420)9/11/2000 3:14:29 PM
From: Rande Is  Read Replies (3) of 57584
 
. . . . We Officially Have a 6DML. . . .

With another near-term low set in on Naz COMPX during the final 2 hours of the day, this qualifies as a squeeze play. . . .or more accurately. . a Margin Liquidation Squeeze. This one happened over 6 Days, making it a 6DML.

There has only been one 6DML that I could find over the past 3 years. The only back-to-back 4DML over the past 3 years had a sharp 2 day rally and the characteristic morning gap up which distinguished the 2nd 4DML from the first.

In the tracking of 3 years worth of late afternoon margin liquidation squeezes, there has never been a 7DML. So my confidence is very high on a bounce today just before the close.

I know it is nail biting time. But blame that on the Wall Street greed. I mean think about it. The big guns come back from their Labor Day weeney roasts and slam the COMPX over 300 points.

A meltdown is very unusual and has no impetus this week. So once again, I'll start buying probably right about 3:30pm. . .with the COMPX probably around . . 3870?. . . maybe lower. Playing the odds.

We may even get some capitulation today, which would be very healthy for this tech market. . . and may even fuel a rally of sorts. The January 24, 2000 squeeze set up a 5 week rally.

Best wishes to all,

Rande Is
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