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Strategies & Market Trends : Take the Money and Run

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To: Jorj X Mckie who wrote (6060)	6/26/2002 9:24:03 PM
From: SusieQ1065	Read Replies (1) of 17639

Jorj, i was just looking at the pattern that developed on the NDX in the days that followed it's first test of it's September low, which was 1088... June 12th..NDX pierces Sept low by a few points and then rallies over 40 points with a strong close..(similar to today's action on COMPX) Day 2...NDX gaps up 10 points and fades immediately and loses about half of Day one's gains... Day 3... gaps down, makes a new low...but then recovers and closes strong.. Day 4... gaps up 15 points and runs an additional 30 points, trying to reach it's 20DMA.. Day 5...Reaches 20DMA and the Big Fade Starts and doesn't hardly look back... in hindsight, i don't think we should be at all surprised that the COMPX bounced on this first test of it's September low... but if the COMPX follows this NDX pattern on this test..i think it might a little bit painful in the "Swing Short" Department over the next few days...

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