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To: robert b furman who wrote (231)	6/10/2001 11:33:53 PM
From: ken-l	Respond to of 470

hi rob, the support @2143+/- has now slightly moved higher due to the fact that compx did print a higher high !!!! the same support @61.8% retracement should now be trading @2149+/- !!! however, i have moved my support slightly higher due to the fact that the lower up trend line has been ascended higher to the 61.8% retracement betw 2328-2078 @2175+/- !!! re: the 40dma - thanx for the heads up; i have never used the 40 days before, but i'll pay a closer attention to it !!!! again, thank you <G> !! rob, i'm not sure if the bottom @1620 is the bottom of the current down trend !!! true that compx did break <and still trading above> the september down trend line; but consider the side of the current bearish wedge, if broken to the down side, it may carry us lower than the 1620+/- !!!! i'm not saying that it will go straight down !! there will be a few rebounds <2nd of 5th, 4th of 5th, and smaller rebounds along the main trend>; but the bottom maybe as low as 1350+/- <which is the 1998 low; and the 1.382% retracement of the bearish wedge, providing that compx will not make a higher high, higher than 2328+/-> !!! but then again, we definitely need more confirmations on that assumption !!! rob, i'll be leaving on a business trip for a week tomorrow !!! take best care, and good luck to ya !!! again, thanx for sharing the thoughts !!! best regards, auto

To: robert b furman who wrote (231)	6/10/2001 11:34:44 PM
From: ken-l	Read Replies (1) \| Respond to of 470

COMPX 06/11/01 it has been consolidating sideway with the declining volume for the past several sessions. perhaps, the break out which will point to the next short/intermediate term direction of the trend may come tomorrow !!!! after several adjustments of the lower trend lines, COMPX is still trading well within the 'bearish' rising wedge formation where the top in the past 2 sessions had failed at the february down trend line. to further add the bearishness to the equation, it also has been forming the head and shoulders formation within the wedge. keep an eye on the same resistance @2255+/- for the break out to the up side, where the 'limited' upside potential may have been @2400+/-. On the other hand, should the COMPX fail to hold its key support @2175+/- <keep in mind that the 10dma will also be trading near this figure tomorrow>, there are several key supports underneath, where the rebound to retest the broken wedge may have been at the neck line of the head and shoulders. if the retest the broken trend line fails, i suspect that the next point of the re-evaluation may have been @1900+/-. the several supports are @2203 - 50% retracement of the current wedge between 2328-2078 @2174 - 61.8% retracement of the same wedge @2149 - 61.8% retracement of the current short term uptrend between 2264-2078 @2100 - the neck line of the currrent head and shoulders formation, and the 61.8% of the 3rd down trending wave. @2078 - the recent low. @2019 - 123.6% retracement of the assumed broken neckline. @1982 - 138.2% retracement of the same neckline. @1953 - 150% retracement of the same neckline. @1924 - 161.8% retracement of the same neckline. @1890 - 61.8% retracement of the april bearish rising wedge. observation only; and i maybe wrong !! regards, auto