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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (78912)	6/19/2001 10:51:01 AM
From: HairBall	Read Replies (2) \| Respond to of 99985

George S. Cole: Sorry for the late response, but I am very busy this week and only have a little time for the markets. I am not an Ewaver so I can not speak to that analysis. I will say, I expect the April 4th rally for the COMPX and the March 22nd rally for the NYA to see more of a retrace. I think we've seen the lows. Per my post two weeks or so ago regarding the COMPX, I am anticipating that the shared support line for the 74 RTC and the 74 Rising Megaphone will support any decline that low. However, as always I will be playing it real time and will adjust my strategy to what my "real time" technicals are telling me as price action and trend lines intersect. If I am wrong and that support line does not hold, I think we will see a sharp sell off from there, targeting first the 98 low. I will be watching to see how MSFT's rising wedge plays out. My OMC Index (which from yesterdays' low pivoted and bounced right at a horizontal price action SRL) is suggesting we will see further retrace of the March NYA and April COMPX rallies. Regards, LG