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

To: Frank Pembleton who wrote (11649)	5/3/2002 11:03:19 AM
From: kirby49	Read Replies (1) \| Respond to of 36161

I started looking at it last August as the next sector, when that PM consolidation was taking so long and even testing my patience. Think I posted it here. Seems like just common sense that we take existing electronic technology and the ideas that drive it and marry them to the latest in chemistry, biology, the Human Genome research etc. Think we have enough computer power for all this and space travel etc. so there will be a lull, although some advancements in that sector, such as IBM experienced after the 73 bull. Anyway that chart looks like a bubble, but a long term trend line might come out around 250 or so. Still watching and hoping it's way too early for a major course correction. Perhaps BTK needs to even overcorrect a little, and all this will be revealed in due time as we watch while we wait for a major trend change in the PM's. Regards Bob BGO, PAAS & TVX up nicely from Monday's 'highs'.

To: Frank Pembleton who wrote (11649)	5/3/2002 12:02:40 PM
From: ItsAllCyclical	Respond to of 36161

New 52 week high on PAAS. Loaded up today around $6 based upon the volume, 52 week high, TA (rising wedge breakout), ABX news, US dollar index breaking 114 and the SOX breaking critical support as well. FWIW.

To: Frank Pembleton who wrote (11649)	5/3/2002 12:56:05 PM
From: nspolar	Read Replies (2) \| Respond to of 36161

Frank, my thoughts exactly. I was looking at the LT weekly BTK the other day, thinking I sure wouldn't want to be in biotechs here, and if so my stops would be right up. But then I thought if it breaks resistance and falls through, which I think it will, the timing might be just right to let it wash out and then rotate over some PM profits. Tech is going to die here finally I think, and I'm not too interested in it. The unemployment numbers, seem to recall ole nspolar mentioning that they would part of story this yr, all year. Well its happening, and this bear didn't get shook out. I think the S & P and the DOW are now going to start taking their own. And I'm heavy short there. If a couple techs I've covered break, also going to reload those for another scalp or two. POG, I'm also looking for a big move soon. Could take 2/3 wks I don't know. Looks to me like we have that long for the general markets to wash out as well. I also think the next move is going to power up pretty nicely. Some of this money coming out of the market will make its way over to PM's, and with the pot already boiling that should really get it going. Remember the key price for gold is more like 325, the 300 is just a psychological barrier.