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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Alex MG who wrote (16739)	4/1/2003 2:48:01 AM
From: Alex MG	Respond to of 19219

the ord oracle marketweb.com, BGO appears to be reversing to the upside. We would have like for BGO to have traded over 2 million shares today to confirm the reversal. However, it appears the XAU has made a bottom and the uptrend has begun in most gold stocks. Drooy appears to have made a double bottom on 3/21 and 3/27 near the 2.12 area. The weekly charts on Drooy gave a buy on 3/21 and today the Monthly charts gave a buy by closing above 2.23 (today is the end of March). Therefore, Drooy is in a longer-term buy signal both on the weekly charts and monthly charts. We bought to Drooy (3/24/03) at 2.40. Gold had a confirmed breakout above the trend line connecting the 1987 and 1996 highs at the 337.50. Gold pulled back to the 1999 and 2002 highs near the 325 to 330 levels and this area should hold as support. The 81-day cycle comes in between March 21 to 24 time frame. Therefore, the time and price areas may have produced a reversal to the upside.