Big Dog's Boom Boom Room Message Board

STOCKTALK

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

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To: chowder who wrote (18703)	2/22/2003 8:55:17 AM
From: russwinter	Read Replies (1) of 206116

I utilize active boards such as these as sentiment indicators and base it on the number of posts. It's worked incredibly well for me in the gold and precious metals markets. You can use any day of the week or count the whole week numbers. Here's what has transpired so far in the energy bull phase. Going back to Friday, Jan. 10 when the paint was still drying we had 29 posts here. Last week (Feb. 7) as stock prices continued to creep higher and climb a wall of worry we had 48 posts. Yesterday on the big surge we had 79 posts. The tone of the posts has gone from gloomy to hopeful. It doesn't really quite seem greedy yet, IMO. Going forward, it will be interesting to see if we hit 100 posts in a day. If so, it might be time to write covered calls, or even lighten up some. The best action might be a few more up days with posts holding 70-80, and then stone quiet (40-50 posts) on a pullback. That would be classic bull action, and is what I'd expect. The top will be marked by over 100 posts a day, and my PM will be filled (sounds a little arrogant, but sadly true) with folks looking for trading ideas. So far I've seen little of the latter.

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