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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Webster Groves who wrote (80139)11/27/2000 2:45:28 PM
From: isopatch  Read Replies (1) of 95453
 
Interesting broader mkt observations from SI member Paul Shread:

"SOX seems to be forming about a 200-point descending triangle here. GE broke its 1998 trendline on a closing basis for the first time last week. Given the broadening top in BA, I'm wondering if there's some ugly warning lurking out there. It's possible these breakdowns could be negated; the SPX needs to get back above 1370 in the next day or two to negate its 94 log trendline breakdown."

Although my take is that we made a ST low last week, we need to see some rally follow through. And the above is a reminder that there are too many risks IMHO to be fully invested yet.

Isopatch
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