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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Rex Martin who wrote (20083)	3/11/2003 4:17:01 PM
From: GREENLAW4-7	Respond to of 206101

If inventories are full, OSX in trouble. I am hoping we have supporting or neutral inventories. Would like a bounce back above 85

To: Rex Martin who wrote (20083)	3/11/2003 4:38:14 PM
From: chowder	Read Replies (1) \| Respond to of 206101

Rex, HAL may close up tomorrow and the OSX may as well. If one is looking for a day trade, then the opportunity may present itself. If one is looking out several days, or more, then the indicators aren't supporting a very good forecast. In looking at the OSX, the moving averages, from the 200 day on down, are all heading down. This normally indicates any support provided will be weak in nature. This is why we have been seeing break outs fail. There wasn't any strong support to push prices higher. Falling moving averages usually provide weak support, hence the downward movement should continue even if HAL and the OSX finish up tomorrow. Something has to change to bring in the buyers. The status quo only insures we see lower prices in the days ahead. If the OSX is to head back up and break out to new highs, we will have to see some market moving news first. Otherwise, those who have already locked in profits are going to sit and wait. Timing is everything gentlemen. Fundamentals rule the market over the long term, but what good does that do if you didn't get in at a half-way decent point? The message I've been repeating and is showing itself to be accurate, is that you don't buy in the high end of a price range. You wait for a break out on strong volume, or you wait for the price to come down and successfully re-test major support levels. Will HAL finish up tomorrow? It may. We may see some support off the 50 day moving average, but will that support level hold? I don't know. The OSX suggests it won't, but we'll see. If we see above buying volume with HAL, off of this support level, I'll change my mind looking forward. dabum