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

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From: chowder	5/10/2005 4:13:47 PM
	Read Replies (1) of 206093

Posted by Peter Worden on the Telechart2005 web site late this afternoon. XLE on 5/10/2005 3:26:00 PM Posted on 5/10/2005 3:44 PM (18 minutes after note date) I have been growing increasingly more cautious (one might even say bearish) on the energy sector. My reasons are purely technical. The XLE is currently testing its 100-day SMA - an average which has previously provided some firm support. Judging by the action in both TSV and MoneyStream, I would guess this level of support will soon be violated. I think the 200-day SMA is a logical target area to look toward. Both TSV and MoneyStream have displayed a rather severe transition from buying to selling over the past month or two. Furthermore, the minor rally attempts we've seen since the peak in early March have all been technical failures. -PW stockcharts.com[h,a]daclyiay[d20050110,20050510][pb100!b200!f][vc60][iut!Lah12,26,9!Lc20]&pref=G

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