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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: j g cordes who wrote (36856)	4/29/2002 5:44:04 PM
From: Johnny Canuck	Read Replies (3) \| Respond to of 68212

We got the test of 1640 on the COMPX I was looking for. A buy signal was triggered in the last 60 minutes of trading. Unfortunately, we did not get a similar signal on the SOX. It did test the 500 support area, but the SOX did not gap down far enough and faster enough to generate a similar buy signal. The COMPX does not go anywhere without the SOX for long, so that leaves us in no man's land. Tried a little ESST long at 15.27 for a bounce. It was one of a handful of conference calls I actually managed to hear. Support at 13.85. I have a mental stop at 13.55. The worsen consumer credit might be a concern though as consumer buying is the only thing holding up the market. WIth the Barron article on Acampora. Does that mean the DOW will start to melt down. He has been a contrary indicator for many Q's now. If the re-bound has stalled there is not point in holding some of the deep cyclical and transports on the DOW. Similar, the old consumer staple will look long in the tooth given the valuation to PEG comparisons.