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Strategies & Market Trends : Classic TA Workplace
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To: AllansAlias who wrote (639)4/23/2001 11:13:58 AM
From: Perspective  Read Replies (3) of 209892
 
Of course, we gapped back inside the upchannel on COMPX this AM. That channel support is just crossing 2000 now. My preferred termination for this B would be in that congestion in the upper 1800s. Maybe "a" lands on the support line just above 2000, "b" takes us back to the 2080 low (that we presumably break sometime in the next couple of days), and "c" lands in the congestion.

Maybe I'm getting ahead of myself here. Should wait for today's important low to fail first.

I just like going into things with a roadmap. I went into this rally with a roadmap that said it might be of the degree of the January rally, and I'm glad I had that fear in me. It was hard to believe that we could possibly do it, but I knew COMPX 2250 was a distinct possibility - would even be in keeping with Naz's 1931 form. Couldn't see how it could unfold given the fundamental backdrop, but - yet again - the funnymentals come through to support the right technical call, as the Fed gets trigger happy.

Longer term, I'm keenly interested in whether or not we cross over the Jan. low and the huge downtrend line that is now just a stone's throw away. I know we're all looking down on this thread - just roadmap thoughts again. Ignore if you wish - I just like to have these mumblings jotted down for my own review periodically.

BC
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