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To: donald sew who wrote (29394)	9/8/2000 5:41:30 PM
From: Paul Shread	Read Replies (1) \| Respond to of 42787

Don, has the Dow met its minimum downside?

To: donald sew who wrote (29394)	9/9/2000 12:38:18 AM
From: Trumptown	Read Replies (1) \| Respond to of 42787

<<if the DOW sells off hard we could get sector rotation and the NAZ/NDX bounces immediately>> - that gets my vote... SR

To: donald sew who wrote (29394)	9/9/2000 11:38:04 PM
From: ken-l	Respond to of 42787

don and all re: COMPX thanx for the reply, don <G> >>>>>Im not that confident that the market will bounce at the open on MON<<<<< me neither <GGGGGG> !!! don, the fact is ... i dont trade indexes; but i use compx as an additional indicator to the individual stock charts !!! anyway; should i make any mistakes in the following 'SATURDAY NITE AMATEUR TA', please dont hesitate to correct me !!! thanx in advance <GGG> !! First, I realize that the compx closed on Friday with a bearish candle !!!! however, looking carefully at the chart; I suspect that it is trading at <or near> its short term bottom of its 4th wave; or in other perspective, it is near <or at> the bottom of the handle within the ascending triangle formation <aka. Cup & handle> !!! in addition to, it is consolidating with a bullish falling wedge formation, it closed rite above the bottom band of the wedge on friday <the bottom trend line of the wedge will be @3972+/- Monday morning> !!! by the way, some of ya might recognize that 3972+/- is indeed the 50% intermediate term retracement <GG> !!! yes, there is a chance that it may break the wedge to the down side <although I personally think it is unusual; but consider the volatility of the mkt recently, anything can happen> and retreat lower to test its 61.8% retracement @3904+/- prior to a rebound !!!! should it actually go all the way to test its 61.8% retracement <without breaking it>, it is not a bearish indication <yet> although it’ll indeed change the current bullish 'wedge' formation into the bullish 'flag' formation !!! What bothers me is …… since it didn’t test that support <61.8%> last week, I suspect that it might not be testing it at all; or else the support @3904 may not be able to stop its retracement this coming week !! the reason for not be able to hold the retracement if the compx descend further is that the lower long term down trend line <the upper band of the previously broken long term sym trig>, which provided a strong support @3904+/- last week, has now descended lower to 3850+/- <which apparently is another long term horizontal trend line support> !!!! thus, I’ll be paying a very close attention to where the compx open on Monday !!! should it retreat/gap lower than its closing price on Friday or its 50% retracement @3972+/-, I’ll liquidate all of the long positions that I bought prior to the mkt closed on Friday <of course, during its attempt to fill the gap> !!! on the other hand, should it advance higher, I’ll keep an eye on the strong short term down trend line resistance <the upper band of the wedge> which unfortunately will be trailing near the horizontal trend line resistance @4050+/- in the first hour of trading <and steeply declining to its 200dma resistance @4010+/- in the last hour of trading> !!! should it not be able to penetrate through the resistance, I’ll most likely take, what should then become, my short term gain off the table as well !!! however, should it be able to break its short term upper down trend line resistance of the wedge, I’ll hold on to my long positions till it tests the neck line of the ascending triangle @4240+/- <and slowly declining> !!! but ..... that’s another story altogether, isnt it <GGG> !!! all in all … it’s only my humble opinion … and I’m usually wrong !! regards, auto ps. thanx for taking the time, don <G>