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Gold/Mining/Energy : Precious and Base Metal Investing
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To: Canuck Dave who wrote (14855)7/27/2003 3:27:32 PM
From: Louis V. Lambrecht  Read Replies (1) of 39344
 
Dave, IMHO, TA and charting only works for broad based instruments on which external evenys have a fractional influence. Not on the smaller volume equities (less than 100K daily average).
Frankly, I am completely in the fog currently. (For 2 years in fact, lotsa cash non-allocated).

With the growing popularity of ETFs and mini-futures index contracts, I start to ask myself if it remains judicious to apply classic TA , even on the broader indexes.
Just an example, look at the QQQ open interest per strike
pcquote.com
never seen before.
August should close at $31 for the QQQ. "Subject closed, next please".
This is not what I expect from a market.

On some sites, the futures O/I on indexes start to give two reading, pure futes, and futes less equity options.

Markets are changing. IMHO, we have to search for other indicators than those broadly used.

Many questions I can't answer with classic TA.
POG 385 then resume the one way trade, short gold 385 upper error channel and buy back 345ish lower error channel?
POS above 5 and change the data?
EUR/USD towards 1.46 then impose a new financial market (by 2040 as I start to read a new Woild's currency on the same scheme as the Euro).
TA won't help.
Watch the ticker and stay with the big players.
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