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

To: Frank Pembleton who wrote (15216)	7/5/2002 10:09:34 AM
From: TheBusDriver	Respond to of 36161

Gezzz, your right Frank. Thanks, did not notice. DMX opened good enough but is selling off. We'll see how the next few hours play out. Wayne

To: Frank Pembleton who wrote (15216)	7/5/2002 1:29:19 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 36161

TA chart: HUI index showing Bear Triangle pattern, target 92 this pattern is bothersome and very negative upcoming the triangle has a base at 120 that was the May ceiling 120 was the impulse bounce point for June's recovery we saw a June1st high of 148, an important number for target we saw a failed mid-June high of 138 we are now dicking around at 121 all three meaningful Moving Averages are now flattening out the 18MA could easily cross the 30MA any day the HUI is now below all three 18MA, 30MA, 50MA it may find support off the base 120, for a quick bounce the gap of 120-130 has been filled twice lately my guess is the 18MA will serve as resistance here, at 123 with bigger resistance from 30MA at 128 daily stochastics look off the chart miserable HUI is horribly oversold here we should get a little bounce from mere covering relative strength is trending very poorly since end May the target timing of any further breakdown is next 3 weeks the base of 120 looks badly threatened here and HUI sits directly above it, with MA's above as ceiling the difference from peak to base is 148-120 = 28 pts target (base minus that potential) is 120-28 = 92 HUI goldbug taret is low 90's Book it, Dano ! / jim