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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (6366)	1/11/2002 4:35:37 PM
From: nspolar	Read Replies (2) \| Respond to of 36161

More On Enron. biz.yahoo.com This is going to get real interesting, politically speaking. We have several Enron guys in GW's admin. We have all the GW/Enron friendships. We have Phil Gramm's wife who I believe was on the board, and yes she pocketed a nice gain on her Enron stock. And now we have Mr. Pitt, who I believe used to typically litigate for clients against the SEC. The DEMs are going to make hay, or at least try to. Guess they have the right. It appears their strategy is forming - GW's admin knew about all this but did nothing to product the little guys. Plus if I'm not mistaken we have some litigation coming up by the SEC, against some firms who went to far in the pro forma schorma whatever you want to call it accounting misrepresentations. I can't but help see that all this will be a huge negative, in an already over extended market. If the market goes down hard, politicians will want some blood, to show they are still the great protectors of the little guy. Comfortable with my shorts and PM's. Staying the course. My shorts were a sea of red today. And yes I've picked some that are suspicious in the accounting department, like WHR and EBAY. Disclosure: No political affiliation. Good Day. Gotta go haul some wood.

To: Paul Shread who wrote (6366)	1/12/2002 12:07:28 PM
From: big guy	Respond to of 36161

"Not quite sure what you're seeing " I'm no candle expert Paul so take this for what its worth. stockcharts.com[w,a]daclyyay[da][pb50!b200][vc60][iUb14!La12,26,9] Looking at Harmony's daily chart after Wednesday big white candle we got a doji on Thursday. As Nison puts it a doji after a long white candle especially after a prolonged uptrend is often a forewarning that the top is near. Friday's candle was a hanging man which again as Nison states is a sign of vulnerability. The highs of both Thursday's and Friday's candle formed what is called a tweezer top which is a minor reversal pattern. stockcharts.com[w,a]waclyyay[dc][pb50!b200][vc60][iUb14!La12,26,9] Looking at Harmony's weekly chart this weeks candle was also a hanging man. Also this weeks close and the close of four weeks ago form a tweezer top. For any of these patterns to become valid we need bearish confirmation. A black candle on Monday would do it as far as the daily goes especially if we gap down on the open. Same goes for weekly confirmation except of course using next week candle. So nothing super bearish Paul unless we get confirmation but there are warning sign to be aware of. I sold my trading portion of PM's Friday but still hold a core position. If we sell off I'll be looking to reload. Take care Scott