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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (41846)	3/1/2000 2:47:00 AM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

Donald - thanks for the view from the hill... I messed up myself and didn't place some buy stops on some oil producers, but I think PDG may come into play tomorrow and I'm set for that. If it does make an up bar and carry on from there, it will probably complete an exhaustion gap / island reversal pattern which would be nicely bullish. ABX has a similar looking chart as well, no surprize. newmont is a little more messy but I note on the monthly that support at the base of the tall white candle in Sept 99 has held so far. So, perhaps the gold bugs will have some more fun soon... I agree with you that a little weakness in stocks will go a long way here, a lot of weakness would be even better :) but once the overall market starts to sell again But Don, the Nasdaq made a record on record volume ;) so it can't go down again ;) If it is a true breakout, volume will stay high; new highs will stay high; and price will advance. Anything less and it should pull back into the dreaded wedge.