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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Haim R. Branisteanu who wrote (55063)	6/22/2000 10:05:00 PM
From: bobby beara	Read Replies (1) of 99985

tfc-charts.w2d.com Haim, i was agreeing with the tradingtech wave count a couple of days ago on crude, i thought that the opec meeting would create a top, like it did last time, but the important thing in markets is how they react to news. Opec increased production (bearish), but the market decided to interpret is as not enuf (mega bullish), it's all psychology. looking at the triangle on crude and the big gap up and the support found at the gap, this so far doesn't look like an exhaustion gap. also the crb broke out of a triangle from the 5/24 top. quotewatch.com even though i sold most of my gold stocks several trading sessions ago, i have a hard time believing the divergence between the crb and gold. i think the recent mergers in PM's, are signs of a bottom, wasn't the mega merger exxon/mobil announcement within a week of THE bottom in december 98. The merger between GOLD and Franco Nevada may be something similar, it would be more striking if it was a merger between abx and nem. b

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