Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: nspolar who wrote (34413)	12/11/2003 2:51:35 AM
From: Andrew	Read Replies (4) of 36161

Its a shame I cant post charts from my service. the 23.6% is right near 223 which is also that trendline and the high of OCT 30. If this does not hold the next supports would be IMO 203 and then 186. Notice the Nov 7 low is 202.81 and the Oct 3 low is 186.48 The fibs are almost perfect. If your chart was in linear instead of log the July low of 140.68 would touch your bottom line as well. That bottom trendline is at 186 in mid January. This might not be a very popular analysis but I see HUI 186 mid January and Gold 385 - 390 mid Jan. 390ish would be approximately 23.6 retrace on Gold which would hit the lower trendline on gold chart. XAU lower trendline meets 38.2% retrace near mid Jan around the 93 level. To sum it all up I see this correction continuing till mid January. Hey I could be wrong right? I do reserve the right to be wrong. We will get some bounces of these support areas between now and then so there will be good trading opportunities. OK now I need a bounce tomorrow so I can not lose too much on the PDG I bought not following my own advice and trying to play knife catcher <CBS> (Charlie Brown Squiggle, LOL) : /

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