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Pastimes : The Philosophical Porch

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To: Real Man who wrote (3954)4/6/2009 9:13:18 AM
From: Rarebird  Read Replies (1) of 26251
 
Transcendental Oil and Gold Fragments:

USO:

It was clearly a bear market rally in oil and prices are heading for an early May low.

Gold:

Gold is beginning to break down, but it's still not crystal clear as to whether this uptrend has topped or not. Gold is still in a correction of the long term uptrend, but this correction could take back 30-50% of the peak price. Support is likely to be closer to $679.

Mining Stocks:

As I told you last week, Vi, mining stocks have clearly topped (if you look at Accumulation-Distribution) and are heading lower. I repeat: Sell the Miners
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