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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Crimson Ghost who wrote (110854)6/29/2001 8:04:19 PM
From: pater tenebrarum  Read Replies (5) of 436258
 
George, i agree on all counts. there's the possibility that both gold and gold stocks have to correct some more near term, as the patterns look unfinished. not ALL gold stocks, as some have already reached support levels or have complete looking correction patterns.

regarding equities, i think a July rally has a snowball's chance in hell of eventuating. what would change my mind would be a sharp decline very near term into my next cycle turn between July 5 to 9 (the area that i now suspect will contain some sort of secondary high), as that would open the possibility for a rally into the July expiration, which happens to be an ST cycle turn as well. my negativity also stems from the low volatility measures as well as the sharp decline in Rydex bear assets. these wouldn't be worrisome in a strong trending market, but in a technically weak looking market they are.
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