The Swamp Message Board - Msg: 23956539

STOCKTALK

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Strategies & Market Trends : The Swamp

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From: SwampDogg	10/10/2007 8:39:45 PM
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A couple of interesting things out there. stockcharts.com It looks as though the bull move in tech has much further to run on an IT basis. The wave structure is clear that this can not be an important top. One might expect a sharp correction over the coming weeks and then at least one more large move higher into early 2008. If there are extensions the $NDX could go much higher and the QID much lower (below $30). Tech looks extended ST but bears may want to cover any meaningful correction. stockcharts.com Gold looks to be consolidating for a move to $775-$825. Downside risk looks minor ($707-$718) and we not even see that. Bears and former bulls continue to yap yap yap. stockcharts.com Wants 430 very soon. Risk gets lower every day. A pullback to the bottom of the recent range is possible but as the RSI works lower this is coiling nicely. Possible next major target is 500-525.

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