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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (28521)	1/16/2002 10:05:59 PM
From: John Madarasz	Read Replies (1) of 209892

well, today was the third classic day of distribution in the last 6 sessions on the COMPX...practically the death knell for the I/T uptrend. Now it's a case of the record short interest working itself off...and taking profits at obvious targets like the 200dma etc. the bounce here could be a sweet set up into a very symmetrical bigger h/s... grease up those fib calculators<g> any more acceleration to the downside will lead to a nice bounce in the holiday shortened week starting the 22nd as hedgers unwind... something to keep in back pocket snoozer in tech till the end i see...sorry i missed it<g>

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