Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: jimsioi who wrote (25783)	1/16/2003 4:52:09 PM
From: isopatch	Read Replies (1) of 36161

Jims. Per HUI: What <weak close>? Checked three different quote sites and hfd is shown as 146.91. We closed only a fraction under that, @ 146.21 finance.yahoo.com^HUI&d=c&k=c1&a=v&p=s&t=1d&l=on&z=m&q=l Even if you want to call that small pattern in the afternoon a H&S it only counts to 143-4. And small patterns like that are easy to negate. Not trying to give you a hard time. After all, I've raised some cash this week myself. Just think it's easy to put too much weight on these micro indications during a strong primary trend. In this gold run, since early Dec, a lot more significant fades into the close have turned out to be nothing but head fakes to scare weak hands out of their positions. It's one of the reasons folks here were calling tops every few days since the rally started. In fact, a great many signals generated by conventional TA tools have been head fakes during the 6 weeks this rally has been underway. One of the main reasons I didn't sell ANY large positions, till a few day ago, is because I stopped using very ST charts and indicators. Got too many false sell signals from them last winter and last Spring. Isopatch

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