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Gold/Mining/Energy : CURLEW LAKE RESOURCES (CWQ-VSE)
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To: Spiney who wrote (438)9/22/1999 1:20:00 AM
From: Dale Schwartzenhauer  Read Replies (1) of 701
 
I believe the spud date is more likely October, but I don't know an official date. I'm glad you asked about the technical picture; I believe it is very clear at this point, and clarity is not a given where technical analysis is concerned. Today's pullback to 0.16 should represent a completed "C" wave from the 0.22 high. Wave "A" went from 0.22 to 0.17; wave "B" from 0.17 to 0.21, and finally wave "C" from 0.21 to 0.16. An essential aspect of the wave principle is equality of waves. As you can see, waves "A" & "C" have equal length. Wave "C" subdivided as a 1-2-3, a feature of corrective patterns. The retracement of wave 1 from 0.14 to 0.22 was 75%, which is larger than a more normal 50% or 67%. As long as we hold the 0.16 level, the next move should see around 0.29. In theory, wave 3 (due next), should be at least 1.618 times the length of wave 1 (which was .08). That makes for a potential 0.13 advance from today's 0.16 level. If that comes as expected, we can talk about waves 4 & 5 to follow.

The stochastics (overbought indicator and momentum) have not been this strong since Curlew first got into Turner Valley 5 years ago. These indicators are very bullish. I estimate the stock could double from this area without becoming extremely overbought.

(Now the disclaimer: I am not employed by Curlew Lake or any member of the consortium, but I am long a bunch of stock)

Dale
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