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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: pls418 who wrote (28800)1/6/2004 8:48:42 PM
From: chowder  Read Replies (1) of 206223
 
Steve,

I told Jim several days ago that the charts indicated it was time for shorting the homeboys in the short term. One of the best time to short stocks is when they break below the 50 day moving average. We saw that in several of the homeboys earlier.

Institutional buyers will often support prices as they come down to the 50 day moving average. When that support doesn't come, it often dictates that lower prices are coming. On a risk vs reward scenario, that's the ideal time to short a position, especially if volume is high while the price is falling.

dabum
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