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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Shack who wrote (5783)	6/26/2001 12:01:33 AM
From: JRI	Respond to of 209892

Looks like the rising wedge on COMPX allows to around 2100 without an upside break....would not be surprised, and kindof expect we'll see such a move tomorrow....a break of 2077 getting bulls all lathered...and then a sell-off on day of Fed, and then, "our" 5 (post-Fed)... Of course, one needs to keep that alternate 3 of C in mind (if playing short from 2077-2100)...could be a painful one, if wrong.....but a 3 of C here would imply rallying straight thru and after Fed....and nothing of the last few days makes me think this was a rally of substance, rather then an oversold bounce.....I favor the corrective nature of it, over any new, big UP move... I like the short-side risk reward, though, if we get near the upper end of the wedge tomorrow, just have to have the stops on tight (as usual)...may buy in morning on any dip, and ride it intra-day......market had a easy chance to give up 2027 today...if it were going to crack pre-Fed, I think it wouldve today.... OK, enough BS for now; I out there enough so regulars can ream me tomorrow for my exact positions here.....let me let the market do its thing...cheers...