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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (44690)5/13/1999 2:59:00 PM
From: Gary Burton  Read Replies (1) of 95453
 
Slider-As I see it, the odds favour a downward bias over the month of May. My best guess is that we will rollover in here and take out yesterday's low print. That would then complete the A Wave of the overall downward sequence, to be followed by an up B failing below 81ish and finally a C down into the 60's....FLC for eg has likely already rolled over from 10.88 this am and as, i see it, will reprint 9.88 or a bit lower in the next few days (I tried to flip out at 11.06 but failed, so I'll hold it back down again)....I'm NOT saying we can't blast off to the upside here, just that the odds do not favour it at the moment. In my view, we did 5 waves up from 47 to 81ish and now we should back and fill and retrace into the 60's somewhere. My 2c, not cast in stone of course.
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