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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Arik T.G. who wrote (34854)	11/6/2000 11:18:32 AM
From: Chris	Read Replies (1) \| Respond to of 42787

"break' not brake -ggg- put on some brakes for orcl <gg>

To: Arik T.G. who wrote (34854)	11/6/2000 11:30:48 AM
From: donald sew	Read Replies (1) \| Respond to of 42787

Arik, >>>> COMPX trying to brake down from the wedge right now! (3458) <<<< Yep, got as low as 3437 around 11:30.

To: Arik T.G. who wrote (34854)	11/6/2000 11:57:02 PM
From: Dan Duchardt	Respond to of 42787

ATG, anyone has other lines? Yes. Needless to say there is considerable art in selecting the defining points for these lines, and I can't claim that my lines are the TRUE lines, but I think they are very reasonable. For both NDX and COMPX, prior to today I had upper lines that were broken both yesterday and today. In view of these breaks, and the lack of follow through to the upside, I have revised my upper lines upward to touch today's highs. This leaves yesterday's high as a small break of the line and a quick return. My upper lines are now defined by the highs on October 27 at the 9:45 bar and the highs of today at the 10:15 bar on a five minute chart. Prior to today, my lower lines were defined by the lows on October 26 at the 14:20 bar and October 30 at the 14:20 bar. For COMPX, this line has not been broken. For NDX, the line was broken late this afternoon, and this break may have initiated the sell off that started around 15:00. In view of the support that emerged in the last half hour, my view is the wedge has to be expanded to include this lower range for today, so I am now using the low at the 15:40 bar to define my NDX line. Once the lines are defined by points, they are easily projected to the apex. With these definitions, and based on market hours (6.5 hours per day) the apex has been pushed off to Friday on both charts, at 10:15 for NDX at 3431, and at 15:05 for COMPX at 3572. Of course both the lower lines are in serious jeopardy of being taken out at the open tomorrow. Will be an interesting morning. Dan