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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: TraderXx who wrote (79505)	6/15/2002 8:33:54 PM
From: backman	Respond to of 99280

i posted these comments a few days ago on another thread re: GOLD "GOLD and countertrend trading (along with a little monday morning quarterbacking) when i was looking for the top in GOLD, using HGMCY as the "sector surrogate", i noticed relative high RSI(14) on 5/22, with increasing volume then, on 5/28, i noted new high on less volume so technical price/volume divergence in a momo sector, coupled with watching some of the "blow-off" trading patterns in the weaker players (see VGZ, CUSIF, RANGY, SSRI) i am clueless about the future price of GOLD, but i think the sector has taken the "momo pipe"" Message 17586997

To: TraderXx who wrote (79505)	6/17/2002 12:20:35 AM
From: mishedlo	Read Replies (1) \| Respond to of 99280

Trader, I am holding a small amount of gold. Right now I am mostly cash. Just cant bring myself to short too much at these levels. I am holding leap puts on the DOW as well as some puts on a few other companies. Will trade short intraday but not hold too much short overnight. As for gold, the charts do not look good to me either. I am waiting for POG 310, and/or some gaps in some gold and silver stocks to fill. In case gold runs I have a small position that I do not intend to trade (but if it spike up big I probably will take profit and pray for a pullback). My best guess is that Gold Stocks might get really hammered when the Naz bottoms and rebounds. EWavers have suggested that this is a decent wave down coming but I really know nothing about ewave. Sheeesh is there nothing sacred during the Nasacre? All clown longs will be destroyed, no matter what stocks. M