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	1/15/2003 5:10:51 PM
From: jimsioi	Read Replies (2) of 36161

Feb Gold's declining top rising bottom... Feb Gold has a quite obvious declining top on the hourly and a rising bottom trend line that comes in at $347.50. The neatness of the declining top worries me, though as a prospective buyer I suppose it ought to excite me, as it smacks of pretty organized selling. The rising bottom trend line is three or four points in establishment....just the type that gets broken.... Bottom line: the gold bulls, Sinclair and Murphyfor example more likely than not are going to have to wait through a correction to at least $340 before they see the gap up day when the shorts cover in panic....that day that never comes...particularly in an overbought condition. Feb Gold hourly charts-d.quote.com:443/1015610357240?User=demo&Pswd=demo&DataType=GIF&Symbol=COMEX:gc03g&Interval=60&Permission=267943&Ht=400&Wd=600&Display=0&Study=&Param1=&Param2=&Param3=&FontSize=10 HUI - another weak last hour...look forward to the end of this trend...142 looks to be tough to surmount....down looks to be the path of least resistance....While the long side of me would like to believe differently, I don't think we're done on the down side yet....NUTS... charts-d.quote.com:443/1018861607910?User=demo&Pswd=demo&DataType=GIF&Symbol=INDEX:HUI.X&Interval=60&Permission=314410&Ht=400&Wd=600&Display=0&Study=&Param1=&Param2=&Param3=&FontSize=10

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