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Non-Tech : The Critical Investing Workshop
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To: AllansAlias who wrote (35014)3/25/2001 6:27:42 PM
From: Poet  Read Replies (1) of 35685
 
Hi Allan,

I hope you've enjoyed your weekend. Hahn has revised his short term COMPX target:

There still could be a bounce from current levels on the weekly NASDAQ chart (below). However, the
1856 Fib target was exceeded on a closing basis, which suggests a lower move. A drop as low as 1357
could occur between now and April 16 tax day. 1357 is the approximate October 1998 low. Markets are
deeply oversold, so reversals could occur at any time. Of great significance is the fact that the final
parabolic phase of the NASDAQ bubble was launched in October 1998 when the Federal Reserve
intervened in the stock market with a flood of liquidity to counteract the potential for a stock market crash
triggered by the Asian contagion and the Long Term Capital Management debacle. There is some
symmetry in returning to the October '98 gap. NASDAQ for 10 years.

What are your thoughts? I guess technically the concept of symmetry is compelling. It just seems to be a long way to fall in three weeks. Unless CSCO warns...
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