Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Crimson Ghost who wrote (20423)	10/18/2002 9:28:25 AM
From: SliderOnTheBlack	of 36161

Thanks GC re: Saville's comments... ["...Yesterday (Thursday 17th Oct) the HUI once again spiked below its 200-DMA, only to once again rebound and close above it. Furthermore, the December gold futures contract dropped to within a few cents of its 200-DMA before rebounding. Note that on 10th October the HUI bottomed at 102 while December gold bottomed at around 317. On 17th October the HUI bottomed at 106 while December gold bottomed at 310. That is, a $7 drop in the gold price was accompanied by a higher low for the HUI. This is the scenario (the gold price making a lower low while gold stocks make higher lows) that we clumsily tried to describe in yesterday's Interim Update. It is a positive divergence."] PS: "What's the difference between professional wrestling and the stock market? Everyone knows wrestling is fixed. With Wall Street you only suspect it." John Crudele, NY Post, 10/15/2002

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