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

To: Logain Ablar who wrote (43314)	5/17/2006 12:17:47 PM
From: Davy Crockett	Read Replies (1) \| Respond to of 68015

<<One has to assume there has been a decent amount of technical damage done recently.>>

To: Logain Ablar who wrote (43314)	5/17/2006 1:09:34 PM
From: Johnny Canuck	Read Replies (2) \| Respond to of 68015

I think there is a lot more technical damage then Zeev is assuming. The COMPX is approach a minor support level at 2200, but the market is weaker than it looks in my opinion. We had three down downs followed by a very weak bounce and we are down again today. The COMPX should have counter rallied for 3 days in the absence of any significant news. This did not happen. Even the tame inflation data did not give the market players much incentive to buy. We are modestly oversold short term,but not in a big way. I don't expect much from the market as we are going into the summer doldrums in a few weeks. 139.142.147.19