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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: AllansAlias who wrote (76690)	3/7/2001 2:37:15 PM
From: JRI	Read Replies (1) of 436258

I think COMPX has to rally well out of current levels (+15) late this afternoon to keep bullish case...my reasoning? We had 3 gap up opens in row, and have barely gone negative even once during that 3 day period....we are in a bear market....how long can the market keep gapping up pre-open? We are due for a down-open...if we get it tomorrow (from current levels), we would likely down gap into pure air (gap below yesterday's open).....and that begin a technical breakdown... Soxx up 30% in 4 days..how much short-term juice can that have? Staying "even" here is not good enough for Naz...needs to create some space between it and opening gap yesterday....also, if we finish here...that would make 3rd day in a row that the market could not advance intra-day....and that's strength? I actually think Dow is pulling Naz's chain today...if Dow fails to make another run at/above 10,7 and keeps dripping down....I think Naz goes with it....no 2:30 PM ramp sos far...beige book seemed to negate that... So, I think the odds favor a breakdown today afternoon or tomorrow morn on COMPX

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