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

To: Paul Shread who wrote (14316)	6/13/2002 12:28:09 PM
From: t4texas	Read Replies (1) \| Respond to of 36161

73 looks like the line in the sand to me too. i agree. the xau needs to hold here at about 73, so to respect the trend i have to buy back some of the stuff i sold. i am not going whole hog, but i have got to be buying back now. if we break down below 73, oh my, i will have to sell 'em back cheaper fast. if we can hold here for a few days, i will have to overload 'em.

To: Paul Shread who wrote (14316)	6/13/2002 12:29:05 PM
From: Threshold	Read Replies (1) \| Respond to of 36161

It's getting interesting. Max pain on the XAU is 75 and it expires tomorrow. Max pain on the QQQs is 31 and that is a week tomorrow. Considering that they need to keep the XAU down around 75 until the end of this week, and will need to ramp up the rest of the market into next Friday as per usual, it may be just over a week before gold bounces really well, and it looks like we may get another leg down in gold next week. Any thoughts

To: Paul Shread who wrote (14316)	6/13/2002 12:46:11 PM
From: nspolar	Respond to of 36161

Paul, splitting hairs maybe but I draw my trendline higher than you do. I put it up to the bottom at mid March on stick bodies. Just under 75 for today. On a log chart my interpretation is the trendline has already been penetrated here. I have this trendline being hit, on the way up, a total of 5 times. Trends start and trends end. Maybe a new channel is forming. If it is probably not up. Fundamentally the news of late has not been what one would call inflationary biased.