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

To: John Madarasz who wrote (6230)	7/5/2001 2:19:27 PM
From: JRI	Read Replies (1) \| Respond to of 209892

(One scenario): I still see possibility for this thing to bounce back (immediately) to around COMPX 2140 or so over next couple/3 trading sessions....and keep a down scenario in tact.... Such a bounce would keep a string of lower highs/lower lows in place.....would allow COMPX to make one last attempt (and failure) and downtrend line off recent highs (and 50 DMA).....and such an effort would get us closer to the apex of the 2 lines (downtrend line from highs...up trend from lows......your point)...not totally there..but closer.. Hopefully, any immediate bounce here would get the sentiment back to ridiculous levels again.... This thing does seems ready to tip, and maybe very, very hard.....I'm just wondering if its today or next week...... (2nd scenario I'm tracking) I s'pose we could get to 2050-2060 and bounce (off upward sloping trendline off lows)....and head back to downward-sloping trendline off highs....which should be a few pts. lower then in scenario one when we would retest......this 2nd scenario might get us to July 17-July 21 window that many are favoring for a big turn (DOWN?), and would cooincide with the your APEX of those 2 (previously-mentioned) lines.... Only problem with this scenario...a failure today would be technically very, very ugly, and I wonder if 2050-2060 can hold that.... 3rd scenario: We just collapse. No question.....the walls and doors are closing in....even dragging out until July 17th will be some wonder (within 2050-2140 range)....Indiana Jones has to make up his mind here very, very soon.....should be bloody strong decision one way or the other...down scenario looking better of course... Great work by you lately, way to keep us focused.....thanks..