Big Dog's Boom Boom Room Message Board

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

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To: jim_p who wrote (39665)	3/1/2005 6:36:46 PM
From: chowder	Read Replies (1) of 206209

Jim, You may be correct in your analysis about a top in the OSX. In my opinion, it's too soon to tell yet. The accompanying chart will show a 30 day regression channel with 3 standard deviations. Most stocks and indices, when they hit the outer channel, will usually correct, especially with the longer term charts. The accompanying chart is a weekly chart and it shows the last 5 trading sessions as opposed to a Monday through Friday set up. The 20 week moving average is located just above the lower channel line and since price goes from one extreme to the other, and usually reverses, the odds are suggesting this is a correction at this time. A move to the bottom of the channel keeps the OSX in an up trend. The OSX will probably reverse or at least consolidate for awhile if it hits the lower channel. ttrader.com MACD is still strong as are the rate of change and volume indicators noted in the bottom window of the chart. dabum

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