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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: in_outdaily who wrote (52542)10/7/1999 10:25:00 AM
From: marc chatman  Read Replies (1) of 95453
 
Just the nature of the beast, I guess.

It's very difficult to invest in this sector and watch it tick by tick, Even when the trend is up, the bulk of the rallies usually happen over the course of two or three days, with the down days often outnumbering the up days by a significant margin even in the best of times.

My guess is that the dip today ends this segment of the downtrend, and we should see some action to the upside. I think, though, that after a week or so to the upside, we should see a gradual sell-off to retest the high 60's. (In E-Wave speak, I would think from my novice point of view that this is simply the end of Wave A down.)

On the other hand, has anyone noticed how many 200 day ema's have been broken to the downside? That's never a good sign.
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