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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (4412)	9/2/1999 11:38:00 PM
From: dgz	Respond to of 15703

I agree with you to a point in that I believe the technicals do reflect events known and sometimes unknown (publicly) but they also kick in for oversold and overbought situations in the absence of news or in the euphoria of excitement and cause traders to act. Exactly which situation this is, we do not yet know, and I can only speak for my own actions. But many many traders work with TA and if their software works on the same principles as mine, we all would be getting the same trading signals more or less simultaneously. The collective action of all the TA traders could account for the run up and if so the uptrend will be short lived...but I believe this one will continue simply because of the timeline that remains for both CC and ELH#1R. Now that the uptrend is started, it will likely hold until CC reaches total depth. Then I expect a lot of traders to exit and sit on the side until test results are known - this could trigger another temporary downtrend which could become a serious downtrend if news fails to confirm market expectations. Nerves of steel will be required in about 3 weeks.