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Non-Tech : Raptor's Den

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To: JRI who wrote (2201)	7/29/2002 4:00:02 PM
From: mish5000	Read Replies (1) of 10157

Hi JRI... KLAC and EXPE charts are both in particularly bad shape... Technically I would class them as "short all rally" type charts... However, I would not short them when the general market is heading up hence my caution. On a day like today, you could have expected KLAC to be up at least $3 - $4. (Shows weakness of the SOX) AS for the COMP, I would have prefered a more gradual move up, rather than another 60 point burst. Remember, the faster she travels the less support she entertains below. On examining the chart again, due to this explosive run, I am lowering my COMP target to 1355,1370 - 1380 which is a mere 40 points away. If we take out these targets, then 1400 is next up on the plate. Short term indicators are now almost pegged at OB... Although I am reluctant to call a top just yet...May have one last squeeze which could occur tomo morning - and sink for the rest of the day to a standard 38, 50 and 61% fibo retrace.... Hammer Reversal top for tomo or a doji star are my best guess.

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