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

To: bobby beara who wrote (25841)	1/17/2003 3:18:05 AM
From: nspolar	Read Replies (1) \| Respond to of 36161

bobby, I agree with your Drooy comments, and that is the reason I have held. Yes I could have traded it up and down for some nice gains during this correction, but I could have traded out as well. BGO is in a very similar situation, to Drooy. If both break out they will move quite a ways before putting in another sizeable correction,imo. AND the next substantial correction will be of size ... I hope to be out. I use my own TA and EW. For TA I at the moment am using money flow index, obv, ppo and stochs and that is about it. I switch to other parameters at times, to change my diet, but I don't overdo it as to number of parameters used. EW in PM's is difficult at best. Like you said very accurate or far off. The difficulty is with the time variable - it is for example difficult to know if a wave for example is an i, a 1, or a (1), or a [1] or a .... When you get in sync you can feel it, and then you want to really try hard to hold it for as long as you can. And you will eventually lose it again and then have to struggle to regain it. Most of the EW I've seen posted and bantered about on golds isn't worth the bandwidth spreading it. Not referring to your post, but in particular to some of the more supposed professional posts. Fwiw I'm very overweight pm's here, have stayed the course, but I think the best money spent right here right now is in gen market puts. Don't have a lot of cash left but I'm accumulating mostly leap puts, in a range of issues from tech to Dow to Spx stocks, with an emphasis on financials. I think the gen market has had a major failure and is starting a major wave down. If my count is correct this will be a big one. The SOX has already been hammered, the NAS hit, and the other major indices already dinged. I think it has a long ways to go. As is normal the weakest go first, and it is true that the supposed safe havens are temporarily benefitting. I'm hoping it is Chinese water torture, all the way. I've got patience and more patience, and will use the time to count and count and count some more. Guess if I'm wrong I get screwed twice. Zeev's head to hills call, made with SOX and NAS emphasis, was right on the money. Already thinking about longs as well, later this year. Probably a wide range of issues.