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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Q8 who wrote (76484)12/17/2006 8:33:15 PM
From: Helpdesk90  Read Replies (1) of 206323
 
The weekly chart shows the 10 sma crossing the 20 for a buy signal. The daily chart shows 10,20 and 50 smas are all turned up and climbing. The price on the hourly chart is above the 8 and 13 emas. The RSI is rising and has been higher a couple of times this year.

I don't know what you mean by no volume follow through. BHI just put up 3 big volume days in a row and is trading past the top of a float turnover box. That indicates that the entire float has turned over at lower prices. Friday saw 2 million shares traded in an hour. That's a pretty clear footprint of institutional buying.

The big money might back off and let the price drift down, like they did during the first 2 weeks of December. You could get 2-3 bucks there.

The broad market is going up and just for tax reasons will likely climb into the new year. BHI is in the S&P 500 so it benefits from index fund buying. That means you may have 2 weeks of more pain just from the broad market rising. BHI is also 10% of the OIH. The OIH is tending to follow the price of oil and that is climbing. Now it appears that the weather forecasts are turning more bullish. Just for giggles, look at the chart of BHI for last January and consider how bearish the weather was then.

Dabum posted this on RDC. Note the similarities to BHI Message 23066508
Note also the price targets. I have no position in BHI BUT I'm long RDC (thanks for sharing, Dabum).
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