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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Gary Burton who wrote (52248)10/1/1999 9:43:00 AM
From: marc chatman  Read Replies (2) of 95453
 
Thanks, Gary. Originally, I expected a move back up into the 16's in order to create a MACD divergence on the daily charts before a larger and longer correction. And I was going to use that rally as a trading sell opportunity.

I had recently abandoned that line of thought because of the extent of recent weakness, and because there was no such divergence prior to the correction in May-June.

Since your reading is more in line with my original thinking than with my more recent view, I'll have to keep a close eye on this as a possible sell if and when it nudges back above 16.
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