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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Thean who wrote (10888)2/6/1998 5:40:00 PM
From: Broken_Clock  Read Replies (1) of 95453
 
Thean,<<TA>>

Prediction:
After listening to Bill & Tony do their thing today....
1.The rest of the world is saying "Hands Off" on Iraq. Bill & Tony are only bluffing...Bill is trying to save face as "tailgate" heats up.I expect a resolution soon which will correct this sector temporarily.
2.The candle charts show that buying momentum left the OSX yesterday.I did not get back in today, although I do maintain cdg, ne, and gw call options that may still be worth something in a month or so.
3.I am looking for a correction down on Monday to at least OSX 101-102.More so if #1 occurs by then.

For those that doubt the usefullness of TA, I have found that learning it & using it the last three months has helped me avoid even more substantial losses than I would have otherwise incurred if I hadn't started using it to figure out why this sector was dropping back in Nov.Since applying the basics that I now use, I have managed to make about 300% return before taxes either daytrading or short term(on week max) since jan 1. I am still down 40% since Oct. 97. But I was way down 6 weeks ago.I have found(personally) that my crash course(out of dire necessity!) has helped me gain discipline, use caution, and reverse my trades from losses to gains.Everyone has their own style.TA is working for me.I want to thank all the long term investors that continually point out the great fundamental of these companies.That is my "comfort zone" if you will that keeps me here.I would like nothing better that to trade up enough to become a long term investor and just write those calls every month.This "in & out" trading is exciting & profitable but time consuming.

Thanks to the thread,

PK
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