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Sorry, I don't have the time or tools to draw all the lines but the
main point is pretty clear (and very reliable).
The COMPX gaped up on 4/23. It has since made a new high (4/27) and
started back down. If the pattern plays out as a typical "Island Top"
it will close between here and 2500 today and or tomorrow and then gap
down.
NOTE: All the gaps since 1/5/99 have been filled.
NOTE: There are two gaps around 12/21/98.
IMHO The spike down on 4/16 and 17 broke an important trend-line
through (11/30,12/14,3/3,3/24,and 4/14) thus confirming the direction
of the follow through from the
"Island Top" that is forming.. Hold on.... Tight!
If COMPX manages to rally from here and make a new high today or
tomorrow the pattern will be broken :(
Regards,
Gary
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