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To: Little Joe who wrote (5959)	5/5/2004 12:28:26 AM
From: NOW	Respond to of 60924

good post

To: Little Joe who wrote (5959)	5/5/2004 7:05:58 PM
From: SwampDogg	Read Replies (1) \| Respond to of 60924

<<Most, including those you mention were around their 50 day ma of volume which I chart. Of all the charts I follow, I did not see a single gold or silverchart with exceptional volume.>> I never said that they had "exceptional volume". I said that they had higher relative volume than the previous down day which was a good sign. Today the volume contracted on a down day which is exactly what I want to see if I am bullish. The stocks that did not have good relative volume yesterday were the silvers and this bears watching. <<Lastly, It seems to me highly unlikely that after the carnage we have had, that this market is going to turn on a day. Seldom happens and if this is the bottom, or part of the bottom, there will be a retest.>> The stocks that I mentioned such as GFI and HMY were retests of previous lows back last year and on lower volume. These may retest but they do not have to. Gold stocks often have spike lows. <<Unlike some I am not making predicitons or engaging in wishful thinking. I am looking at the charts>> This sounds a bit nasty IMO. My comments were based on "the charts" and that is my whole basis for seeing a possible large rally ahead. It is certainly not "wishful thinking" and not a prediction. As I said the risk/reward in many of these stocks looks good here and there are pretty obvious places to set stops and to buy more.

To: Little Joe who wrote (5959)	5/5/2004 8:23:45 PM
From: Michael Watkins	Read Replies (2) \| Respond to of 60924

I went long March 24 in a very big way (long since closed that one out) sensing that "carnage" had done its thing. The same sort of carnage, lower lower lower, thinking prevailed in the community then if I recall sentiment correctly. Certainly there is an argument that anything remotely positive (except for perhaps company specific news) such as another blow out jobs report could easily turn the market on a dime. However unlike March 24 I am not sure I sense the same level of pessimism. Could be my detector is acting up... LOL ... but it does seem that a fairly big constituency is looking for a repeat performance of the March 25 and onward run up, fueled part way up by the jobs report. Still.. some sectors have really been eviscerated. Seems like the bounce could continue a little longer. Makes sense to be prudently cautious at least.