International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: JKNF who wrote (4364)	3/19/1997 8:38:00 AM
From: Rashid Garuba	of 35569

JKNF, Bruce and all, I have been lurking here for a while and would like to repay for all the info by posting more. I enjoy T/A and would like Bruce's opinion on IPM's possible price action in the following weeks: Candlesticks have very reliably identified IPM's last three tops (in the absence of news following the signal), so for now it's the more important method for me, amongst others. In other words IPM has been very tradable, up until the $14 thing. Which do you think is the most likely: Scenario 1: A rally that stops at $14, traces back to about $11.50 (the fourth bounce in an ascending triangle). This should lead to an upward explosion that should reach upper teens. Scenario 2 <g>: Rally goes up furiously to $18-$20 range, creating a 75 degree price channel. $50 will be here in the blink of an eye. Scenario 3: There is no rally, we return to $9, therefore IPM goes sideways a while. In this case, keep buying. Break down below $8 would not be good, short term. I am not a TA pro, so take all this with a bag of salt. PS. How could I have addressed this message directly to Bruce?? Rashid - 1200 long and aching for more.

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