Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Frank Pembleton who started this subject	10/12/2002 9:16:14 AM
From: jimsioi	Read Replies (1) of 36161

HGMCY & Gold's - weekly's condition HGMCY The weekly trend indicators (CCI and RSI pictured below) are still above their respective zero or 50 lines drawing down to them. Price has held above the 200 day moving average (ema) and closed above the 50. Price retreated just slightly more than 50% from the recent high up move from the July lows in the mid $9s. Volume did rise some this week the fourth down week in a row. Still the weekly chart has to be classified as one still tenuously positive and intact....imho. A lower low than this week's low and certainly a low below it would turn the picture negative. Such a reflection off the price chart on the wall I feel as likely to see as not before HGMCY gets in forward motion again. Holding out for at least $13.01 or to buy when GOLD gets over $325.. Ideally, next week, or one soon thereafter, we'll see a higher close, on increasing volume, at a price higher than half way in the week's range and above the opening. stockcharts.com[h,a]wbcayiay[de][pc40!f][vc60][iut!Ud20!Ub14!Ug!Lb14!Lh14,3!Ll14!Ld20!Lya7,14,28]&pref=G Weekly Gold - Stos starting to roll over. This might be excused by the fact that option expiration was a factor on Friday. Some traders are making the point that the close Friday was positive in that the shorts were not able to close Gold any closer to the key $315 strike than they did. The miners late positive reaction then was in part a reaction to that small victory on the week for the longs. treasurestatefutures.com jims101

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