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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (12400)	9/7/2001 7:53:13 AM
From: AllansAlias	Read Replies (1) of 209892

Europe sure did not want to lead today. FTSE is clearly below its March low this morning. The double bottom there did give a bounce and now it seems to be folding. So, I'll not bet against the double bottom here (the April lows), but I'll only buy for a quickie on the first test. As I said before, the best the equity bulls can hope for here is a large 'flat' that would see us getting back to the top of the range -- the May 22 high on COMPX. The alternate bear count says that the rally into the May 22 highs was the correction and the April lows will not hold.

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