The Swamp Message Board - Msg: 24823395

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Strategies & Market Trends : The Swamp

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To: SwampDogg who wrote (254)	8/5/2008 9:21:34 PM
From: ItsAllCyclical	of 491

Given the declines why can't PMs go thru a sideways correction for a while after some bounce from whatever lows they hit? Why do they have to fly? Is this based on EW, FA, TA or a combo? Looking at monthly chart of the XAU I could see decent support after another 10% down, but I can also make the case for another 20% or even 30%. Purely from a TA standpoint, I can see where we stay in a trading range from HUI 320 ish to 400 area for several months under 1 scenario. There's a couple of decent support pts for oil around 110. Surprised we haven't had a better bounce sooner. The first PM bounce may be TA/oversold related or it may simply coincide w/money coming back to natural resources in general. Right now I'm not set on any specific scenario. The usual gold/PM bottoming tools will probably suffice.

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