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Strategies & Market Trends : E-Mini Pit

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To: the-phoenix who wrote (481)	2/11/2002 11:13:00 PM
From: Dan Duchardt	Read Replies (1) of 11288

Some Fib levels for the COMPX decline: I can't put them on the chart, but for reference stockcharts.com[h,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G From the Jan 9 high at 2099 to the Jan 23 low at 1879, the .382 retrace was 1963. The bounce peaked the next day at 1960, a near touch of the .382. From that peak to Friday's low of 1772 the .382 retrace is 1844. Today closed just above that at 1847. Fair chance I would think for a third leg down from about this level. Also, the 50% retrace from the September low to the January high is 1743. I thought we were going there on Friday, but some folks were not ready and ran the thing up. The .618 retrace would be 1678, which looks well within range for a third down leg here. Dan

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