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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 695.16

+0.2%

Jan 12 4:00 PM EST

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To: Johnny Canuck who wrote (35832)	1/8/2002 3:22:29 AM
From: Johnny Canuck	Read Replies (1) of 69706

Comments Jan 7,2002 COMPX failed to close two days in a row above the critical 2050 level. By definition this is a failed break out. Intra-day I don't have a sell signal on the COMPX and SOX though. The intra-day charts on SI don't look right, so this might be wrong. Fundamental are point to more down side as the consumer part of the equation is eroding as record bankruptcies are being suggested. The business side needs to pick up the demand side of the equation now to offset that. The capital equipment upgrade cycle for computers might do it as suggested by the strong than expected numbers out of CPQ, but there is no clear indication of that yet and the ECM's are not suggesting any strength in the area. I won't be around much this week. Have a profitable week.

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