basserdan: I have great respect for Richard Russell. I've read him for years. He's one of the "good" ones. But this time I disagree with his take. If you look at the monthly and weekly COMPX charts you'll see what looks like a classic inverted Head and Shoulders bottom. The Nasdaq has come down about 78%. For 10 months now, the COMPX has stopped going down. The economic news is awful, wlll likely get worse...but the COMPX is not dropping thru the floor. Someone is buying what others are selling: buying and selling are in "balance", a fairly common occurance during bottoms [and tops too]. Am I certain? No, there are no guarantees, only probabilities. If the COMPX takes out the low, we go lower. The same seems to be true of the Dow if you look at the monthly and weekly charts. I offer this simply to present the other side. I could go into greater detail and bore you silly. But the week is over and it's time to go.
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