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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: StockOperator who wrote (34093)	10/26/2000 12:04:59 PM
From: Paul Shread	Read Replies (1) of 42787

Here's my rationale for 2800: COMPX seems to have broken a bear pennant (could also be a flag; a firm lower line never formed) around 3400-3500 (if it's a flag, that line could be as low as 3300). Since the previous condolidation (a descending triangle) broke at 3600, that gives us a 600-point pole (3600-3000). 600 points from 3300-3500 gives us 2700-2900. I chose 2800 because it's where the apex of the falling wedge in this chart is: wsrn.com There is a line running across the pre-1999 peaks in that range: wsrn.com This is all academic for me at this point; I'm actually up on the day and up 15% over last week (would've been up 20% if I didn't sell HON too soon - aaargh). I wanted to short JNPR, but it blew through the previous reaction low (around 179) so fast I never got the chance. If it retraces to that level I may short it; it's at 175 now.

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