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

To: nspolar who wrote (25750)	1/16/2003 11:57:53 PM
From: bobby beara	Read Replies (1) \| Respond to of 36161

stockcharts.com[w,a]daclyyay[dc][pb21!d15,2][vc60][iUb14]&pref=G Well bobby, what say ye now? Are we back on the stairway to heaven? Got any more EW analysis? It ain' easy is it? <<< no it ain't ez, my broker E.F. Nuttin told me it would be EZ, but after Nuttin' told me to invest all my money in yahdoo calls in march 00, i found out what Nuttin was all about -ggg- EW analysis can be incredibly accurate at times, and incredibly bad at times, just like any other statistical analysis, i wouldn't bet the farm on any t/a. Now i was quite bullish on the gold stocks in early january and pointed out the e-wave of that big triangle from june, but most of my favorites, like the drooy chart above started gapping up as gold started breaking out and selling off for the rest of the day and closing on the low, that was frustrating as hell, the market was crapping out, gold was breaking out and gold stocks were floundering, gold stocks have been my favorite market countertrend play, shorting second. i gave up on gold stocks several weeks ago, but the drooy chart now looks like about a month long bull flag, i don't get married to any position, because the market is smarter than me. if drooy breaks above the narrowing channels of that flag, the top channel at about 4 and 2 bits, i would consider that a bullish breakout.