DROOY Durban Deep- Best S. African Mine Message Board

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Gold/Mining/Energy : DROOY Durban Deep- Best S. African Mine

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To: Jack of All Trades who wrote (638)	3/10/2002 10:35:56 PM
From: TATRADER	Read Replies (1) of 851

I think the Gizzards who finished their buying of DROOY as I did on Friday will find, we nailed another bottom... The gap on DROOY was a breakaway gap... If we look at Elder "A breakaway gap marks a major change in mass mentality--it reveals a great pressure behind the new trend. The sooner you jump aboard the trend, the better. An upside breakaway gap is usually followed by new highs for several days in a row. There is a sharp increase in volume on the day of the breakaway gap and for several days after that. Volume on the day of the gap may be twice as high as the average volume for the previous few days." Now from Gizzard wisdom: If you look at the fast stochastic 8 period, I have a reading of 4 on Thursday and 7 on Friday, that is a bullish divergence, not as much pressure to downside on second day, even though XAU price was lower... Same with 5 period CCI...Reading on Thursday was 188 on Friday was 185... Always have at least two indicators confirming whenever you come to a conclusion on something...The more indicators that confirm the better.... GIZZARDS CALLED THE GOLD BOTTOM ON FRIDAY....Hopefully, they won't be left holding the gizzard on this one.... Conclusion: The bottom on DROOY should be in the 2.20 area...There is still a very remote possibility that DROOY may touch 1.87...If it did, Gizzards would be tempted to buy with both hands.... Go Gizzards....DROOY is a meal ticket for the nimble....

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