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

To: Lachesis Atropos who wrote (39695)	6/6/2003 11:40:50 AM
From: Lachesis Atropos	Respond to of 69927

Cleared -> ATYT HGSI IMCLE PDLI No positions. Lawrence

To: Lachesis Atropos who wrote (39695)	6/6/2003 1:58:53 PM
From: Johnny Canuck	Respond to of 69927

COMPX failed the first try at 1680, which is to be expected. If the COMPX can stay above 1600, it should make another attempt. The market is not ready to give up the bullish stance yet, even though the fundamentals are scream that it should.

To: Lachesis Atropos who wrote (39695)	6/11/2003 6:55:33 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69927

1600 held on the re-trace of the COMPX. The index has now done a 50 percent re-tracement of the drop from 1680 to 1600. I expect some backing and filling the next few days. Keep in mind that tomorrow is the Thursday one week before options expiration. Professional traders will be closing their position while their options while they are still worth something. Intra-day my indicator are indeterminate. On the daily a sell signal has negated itself. In the absence of any outside market moving news I would expect a re-test of 1680 before the month is over as it is the end of the current qaurter for fund managers. We need to back and fill at 1640 first though.