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

To: waverider who wrote (13830)	6/4/2002 3:48:51 PM
From: gold$10k	Respond to of 36161

WR, Excuse me for butting in, but IMHO, big volume at the end of a big upmove is usually distribution. OTOH, this is just a wild market. Regards, vt

To: waverider who wrote (13830)	6/4/2002 4:46:55 PM
From: nspolar	Read Replies (1) \| Respond to of 36161

wave, in hindsight there is usually a better way that one should have executed, that was really visible but just not thought out properly. This XAU correction which is still in progress was visible about the instant it started. How hard how long was not and still is not (visible). However, silvers had the most 'latent' strength and that was obvious. I was very heavy silvers, and should have sold less due to the latent heat effect, or bought some of the HL and CDE dips, for example. Everything does not and never will follow the indices, perfectly. Not complaining (hell how can I), just something to remember for the future. Since I was so heavy silvers, I am probably net behind of where I would have been had I held everything, even though I sold out at a better XAU point. Haven't thrown in the effects of my large short position however, which are starting to add up. Where to from here - we'll if this correction continues, and it could violate and not continue tomorrow - I just don't know for sure. All we can say is that it is still on course. I do now presently feel if it continues as it appears it will 79 XAU may not hold. 79 is just too easy. All the PM sentiment indicators I follow are sky high, and the silver volume you spoke of smacks of at least a minor blow-off. So once again vt and I are in agreement, but as vt said this is one crazy, volatile affair we are going through. It appears not beyond the realm of possibility for the dollar to tank, and gold to spike to 340. If it does those of you that held or added will be rewarded, while those of us who tried to play the dip will be penalized. About that simple. I sure am not going long here, gen market or energy, I can tell you that much. Think we should have a couple more weeks of this. So it is just too early IMHO to do that. I'm just watching those I'm interested in. I do want to diversify a little more going forward. Lots of good ideas being tossed about here of late. Did make a minor purchase (PM laggard) today. Also increased my short position via a double up of ACF (high on that one), and made my first IRA entry into USPIX and RYTPX. Didn't get the latter done last week when I should have. Cudos to Crusty, who did get it done. Think Crusty is going to make out okay here. Heading out to the garden. Will reap what I sow (if the moose don't get it).