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

To: TheBusDriver who wrote (12985)	5/23/2002 9:44:23 AM
From: Little Joe	Respond to of 36161

I was thinking a gap fill. But what if it is a break away gap. The implications are fabulous. Always good to consider alternate scenarios. I am inclined toward the idea that this is a gap that will fill. Primarily, because there is strong resistance in the 320 area. If this gap had occurred after clearing that resistance or to clear it, I would be more inclined to think breakaway. I think the most likely scenario is choppy for a while as POG attempts to clear overhead resistance. If it does this easily, it would be a very good sign. If it backs off significantly, we are probably due for a period of choppiness. Nonetheless, this is an important time to look for clues as to whether and how soon the bull will continue. Always consider the alternate scenarios. Little joe Little joe