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

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To: chowder who wrote (32081)	5/10/2004 10:28:30 PM
From: chowder	Read Replies (1) of 206118

For those of you holding, or looking to buy E&P's ..... we saw a gap down in price at the open and it was followed up with a long red candle. This usually indicates more weakness to come. When I look at individual charts of many of the E&P's, we saw above average selling volume today as they too gapped down at the open. This usually means we may see a day or two of upside but, shorting into any rally will be the high probability play over the near term. I'm not seeing panic selling yet in the charts. I'm seeing organized sell programs. Not the best of environments to be trying to guess a bottom. stockcharts.com[h,a]daclyiay[pc20!b50!f][vc60][iut!Lh14,3!La12,26,9]&pref=G And, the worse of it is, the stochastic hasn't even hit oversold yet. dabum

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