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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (125097)	10/17/2005 10:41:14 AM
From: skinowski	Read Replies (1) of 209892

NEM - have been doing with it some acrobatics for fun and profit... Was long, then reversed - and covered near my support level at 45. Out at this time, but would like to get back in - at the correct side... -g/ng. Agree that today's gap is probably the main part of a 3 or c. Will need to wait and see. For the moment, taking out Friday afternoon's low of 44.86 would be immediately bearish... in the wiggles. NEM did not confirm the recent top in GLD, which makes me suspicious of today's gap. Note that both of them sport impulsive-looking moves (30 min) off the Oct 10-11 top. On GLD, it looks like a break from an overshot ED -- but, on NEM it may well be a C of a Flat. Which one is telling the true story....? (see Rashomon for illustrations.. -g)

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