Big Dog's Boom Boom Room Message Board

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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: hdrjr who wrote (17495)	1/28/2003 8:16:38 AM
From: chowder	Read Replies (2) of 206209

>>> Any comments on OSX breaking below 80? OSX hit a 61.8% retrace today. <<< The OSX gapped down at the open yesterday. When you see downside gaps, you're looking at incredible weakness. Selling volume was on the rise. It looks like institutions are lightening up on their positions. We may see a short term bounce in the next day or two, but until we have some visibility into the Iraq situation, I don't see enough new buying coming into the markets or this sector to sustain a supportable rally. I'm on the sidelines and in no hurry to jump back in yet. Any rally in the next day or two should be used to raise some cash, in my opinion. Uncertainty is never good for the market and we certainly have lots of that at this time. dabum

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