Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: isopatch who wrote (1020)	9/4/2001 8:31:46 AM
From: Roebear	Read Replies (2) of 36161

isopatch, Just doing some cruising on the securitytrader members bulletin board. As I have mentioned before, I know the founders of this service (virtually) from when they posted on SI four years or so ago. Anyway, one of them reposted their 11/17/00 chart of SPX and mentioned that was the chart that got them "booted off of CNBC". I don't know what that was about and I don't remember their real names off hand. Interesting chart and very good call at the time for shorting the SP. What is really a grabber about that chart is it has now sprouted two head and shoulders. SPX is currently just above the second neckline. Trendline from late 94 lows (around 450) has four touches containing all the spike lows 94,96,98 and was violated Oct/Nov 2000 after which it rebounded to the first H&S neckline just under 1300, forming the second shoulder on the most recent drop. ST not saying this is a sure thing, but rather "Food for thought", the measurement on that second H&S is around the spike lows of 1996 at SPX 600! ST currently calling for violent snapback rallys of which we may witness one today. Best Regards, Roebear

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