Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: isopatch who wrote (25458)	1/13/2003 2:55:20 PM
From: Arik T.G.	Read Replies (2) of 36161

Roebear and isopatch, Gold Looks IT very overbought and completed an impulse up from 2/12, so it needs a shallow but quite long (1-2 weeks?)correction. Correction targets 247-249 first target, 332 max downside (not very likely, also not shallow at all). Trend is still up with the IT target 371-373. LT I expect the BKX to crash down to at least 450. I will not guess where POG would be then, just that 350 would look very low. Gold stocks mostly lagged the POG and IMO will catch up later, so no hurry to ditch them. USD LT trend is down, IT trend fast down. ST may be looking at a correction. Euro at 1.055 looks ST over extended to me. No clear targets, but if you're still short the Dollar you'd have to be patient. I would not recommend shorting it now. ATG

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