CURLEW LAKE RESOURCES (CWQ-VSE) Message Board

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Gold/Mining/Energy : CURLEW LAKE RESOURCES (CWQ-VSE)

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To: GerPol who wrote (592)	7/17/2000 2:22:32 AM
From: Dale Schwartzenhauer	of 701

Thread: technical update -- After studying a weekly chart on CWQ over the weekend, I've come to several conclusions that support the concept that the stock is bottoming and due to turn higher. CWQ appears to make a significant low every six months. This recurring six month cycle is bottoming right now. It also appears we've completed an a-b-c decline from the 0.19 level, as part of a larger A-B-C correction of wave (1) over the past 10 months. We're now in a contracting triangle defined by an upper trend line at 0.18. Wave (3) should develop from the current bottom and carry prices to the 0.37 - 0.43 level. These levels are determined by applying a ratio to the previous advance from 0.05 to 0.22 (wave 1). So, 1.618 x 0.17 + 0.09 (current low) = 0.37. The higher figure is arrived at: 2 x 0.17 + 0.09 = 0.43. The numbers 1.618 and 2 are both Fibonnaci ratios that occur frequently in various technical patterns. Also, wave 3's by definition are the strongest waves in percentage terms, so it should be greater than wave 1's advance of 0.17. Dale

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