Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: TheBusDriver who wrote (16027)	7/19/2002 11:01:30 PM
From: Little Joe	Read Replies (3) of 36161

Wayne: I think the most important chart right now is the HUI. bigcharts.marketwatch.com It is forming a triangle and there are three things that can happen. If it breaks to the upside soon, we are due for the move up, likewise if it breaks to the downside, look for some short term weakness. If it gets much closer to the apex, it will have no predictive value. On balance, I don't think we learned much today and I continue to keep my powder dry. I am still of the opinion that a possible scenario is that the market capitulate next week and then rally stongly putting the fire out (temporarily). I do believe that long term the market will go a lot lower and gold will go a lot higher. Little joe

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