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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Canuck Dave who wrote (14855)	7/27/2003 3:27:32 PM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 39344

Dave, IMHO, TA and charting only works for broad based instruments on which external evenys have a fractional influence. Not on the smaller volume equities (less than 100K daily average). Frankly, I am completely in the fog currently. (For 2 years in fact, lotsa cash non-allocated). With the growing popularity of ETFs and mini-futures index contracts, I start to ask myself if it remains judicious to apply classic TA , even on the broader indexes. Just an example, look at the QQQ open interest per strike pcquote.com never seen before. August should close at $31 for the QQQ. "Subject closed, next please". This is not what I expect from a market. On some sites, the futures O/I on indexes start to give two reading, pure futes, and futes less equity options. Markets are changing. IMHO, we have to search for other indicators than those broadly used. Many questions I can't answer with classic TA. POG 385 then resume the one way trade, short gold 385 upper error channel and buy back 345ish lower error channel? POS above 5 and change the data? EUR/USD towards 1.46 then impose a new financial market (by 2040 as I start to read a new Woild's currency on the same scheme as the Euro). TA won't help. Watch the ticker and stay with the big players.

To: Canuck Dave who wrote (14855)	7/27/2003 3:29:01 PM
From: marcos	Read Replies (1) \| Respond to of 39344

ckg.v - Chesapeake has to me the look of something that will make a little spike down to its mid-term bottom sometime in August, then put on a dramatic move up .... i'll be looking for 2.40s, 2.05s in the most optimistic case .... not completely confident of getting 2.40s, so already picked up a few .... this is just guessing in seat of the pants style, based on general chart shape and seasonality, more art than science ... but quite often you see at the end of a basing period, on a widely followed stock, some sort of weird capitulation trough just before the recovery .... in fact, a dip that becomes an integral part of the recovery .... and there may be logic to it being so, because some large holder who had been lightening up bails out of the last of the stock he wants to sell, then the thing is released from that pressure, just as folks tune in to the bargoonicity of it, and some news flow starts up What a game eh, endless fun ..... here's an unsolicited guess on the PoG - i don't think we'll see a solid move to new highs for four weeks yet, maybe six .... and here again, based on some sort of rustic art, unable to explain why, or draw a picture [and therefore unclear on the concept, according to the Louis Agassiz school of learning]