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

To: Paul Shread who wrote (38385)	12/19/2000 10:18:58 AM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

COMPX 5-min chart short price pulled back from resistance. Now making another attempt at today's high. The bull flag that I spoke of in my previous post has resolved upward after an initial pullback. Is that an intraday gap I see on this chart? ...test of today's high unsuccessful. Now price is looking to move down to a nearby support. So far a mini-congestion range in the past half an hour. ...stayed in its congestion trading range and now making another attempt at today's high. Higher probability of success this time. ...making new intraday highs now. Now will resistance turn into support? Bob Graham

To: Paul Shread who wrote (38385)	12/19/2000 10:36:03 AM
From: Peace	Read Replies (1) \| Respond to of 42787

Hi Paul, There is a good chance that we had a successful test of the lows. MWD is up 5% after missing their numbers big time. I am surprised they didnt warn last month. Holiday sales are going to be bad. Fed has got to be concerned. This morning they said Mall traffic is down 9.6% vs last year, Dept store traffic down 14.4%. The fed is getting behind the curve. I wouldnt be surprised if they give us a quarter point cut today although I am not expecting one. Peace

To: Paul Shread who wrote (38385)	12/19/2000 10:52:16 AM
From: Trading Machine	Respond to of 42787

Paul, to get to NDX=3K first we have to break a Strong down trend line at ~2800. Given that we break that to the upside within the next week or so, the fib retracement (calculated from the high 09/01 and the low on 11/30) 38%=3083, 50%=3286, and 62%=3489. Lee says he sees a lot of them turn around at the 50% point, so 3200 and change. I do have to mention that I have a possibility that we will break to the down side before going up and I have that number at ~2350 within the next week or so and then up from there. If this week ends up being an up week I will consider this a real consolidation pattern i.e. a GZ wiggle pattern with alternating weeks being up and down, and then I could believe that we go up. It should be noted that the weekly pattern is very playable for the nimble fingered trader INMHO. I posted a week or so ago that when I look at all four indexes together, they move together insofar as Local highs and lows go. It appears that this event (a Local low) occurred on 11/30. If so, I believe that we move up from here albeit gradually. BTW the synergy between NDX, Compx, OEX and the S&P is very pronounced. That is to say if one index puts in an apparent low and the others do not, the probability of this being a true Local low is not good. If, on the other hand, all four put in an apparent low and start moving back up I will believe that we have a true Local low and the trend is changing. In my research over the last two years the coincidence for this occurring was exact for thirteen out of seventeen events and the others were within four days of being the same. CU Paul Kellam