Galapagos Islands Message Board

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Strategies & Market Trends : Galapagos Islands

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To: quote 007 who wrote (19672)	1/5/2003 2:16:46 PM
From: Challo Jeregy	Read Replies (1) of 57110

Posted by Nikko_thyme on Saturday, January 04, 2003 - 9:49 pm: Chat Notes : 1/4/03 9:00 PM Daily Signals : All indices are in the OVERBOUGHT area as of Fri Jan 3. If the market continues up, Don's signals may reach the CLASS 1 SELL area in 1-2 days. Weekly Candles : The indices have weekly Bullish Engulfing patterns. These are reliable two stick patterns. (NAZ, NDX are imperfect) Don thinks the mkt could potentially go higher next week, have a mild pullback, then run back up and possibly set a higher high. A resistance area for a run up may be the NDX 1088 Island gap. The USD is in a down trend and will likely be a negative for the market. GOLD could continue higher after a potential pullback to the 325-335 area. If the USD continues down it will be a positive for GOLD. The New Capitulation Topping Indicator is calling for a minimum decline of 20%, which may come from the December high. Don is watching for an 89 day top to bottom cycle low near early April 2003. Currently Don is net long with a mix of Options and a short Fund position.

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