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Non-Tech : The Woodshed
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To: Little Joe who wrote (5959)5/5/2004 7:05:58 PM
From: SwampDogg  Read Replies (1) of 60924
 
<<Most, including those you mention were around their 50 day ma of volume which I chart. Of all the charts I follow, I did not see a single gold or silverchart with exceptional volume.>>

I never said that they had "exceptional volume". I said that they had higher relative volume than the previous down day which was a good sign. Today the volume contracted on a down day which is exactly what I want to see if I am bullish.
The stocks that did not have good relative volume yesterday were the silvers and this bears watching.

<<Lastly, It seems to me highly unlikely that after the carnage we have had, that this market is going to turn on a day. Seldom happens and if this is the bottom, or part of the bottom, there will be a retest.>>

The stocks that I mentioned such as GFI and HMY were retests of previous lows back last year and on lower volume. These may retest but they do not have to. Gold stocks often have spike lows.

<<Unlike some I am not making predicitons or engaging in wishful thinking. I am looking at the charts>>

This sounds a bit nasty IMO.
My comments were based on "the charts" and that is my whole basis for seeing a possible large rally ahead. It is certainly not "wishful thinking" and not a prediction. As I said the risk/reward in many of these stocks looks good here and there are pretty obvious places to set stops and to buy more.
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