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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (14966)	6/5/2004 7:00:21 PM
From: jimsioi	Read Replies (1) \| Respond to of 110194

tippet, agree, on can always punt.... Half the things I seem to consider when taking or vacating a position in the end are meaningless...They unfortunately aren't always the same ones...Pretty good clues for me have come from the action in the trend and momentum indicators on Gallemore's group of charts. chartingyourfutures.com In the CRB, metals and Crude we see trend indicators that have peaked and are falling...Momentum is most negative in Crude, currently, less so in Silver and still positive in Copper and Gold though declining. This generally is not the optimum place to take a stand...but then occasionally it is....For next week, at least early, lower Crude ought to drag down commodities and be supportive to a stock market rally. Do notice there was a terrorist attack on a Russian oil storage facility over the weekend and of course the Dollar's direction and degree of move dollar is key.... Puplava is urging listeners to buy here and forget the charts....become investors rather than speculators...Sounds a bit like the reasoning of one who can't find confirmation anywhere in price action to support one's fundamental view...Again sometimes right....more often not, I've found... Yes, every time I discuss the COTs there is criticism that they are meaningless, usually when they don't support bullish views. For the reasons stated, I feel this last week's numbers were quite telling....Are they all controlling? No. Indicative of a market that isn't set to go very far? I say yes.... Open interest in Gold declined another 3400 contracts Wednesday and Thursday.... Just to add to the confusion I notice that all the expodential moving averages from the 10 to the 200 are clustered, now, between 388 (the 20ema) and the 396 (the 100 ema)..an eight dollar range. Holding above Friday's opening (388) and getting on above Thursday's highs of 394 will be most encouraging, while sinking below 388 won't be...Certainly want to watch to see how the leadership fairs....PM Miners above their 50 and 20 emas are NG HUGO GLG WHT IMC EGO SWC and GRS. Watching to see if that list expands or contracts.... GOLD - moving averages bracketed by the 100 and 20 emas... stockcharts.com[h,a]dacayiay[dc][pc20!c100!c10!f][vc60][iUe12,26,9!Up14,3,3!Lya7,14,28!Lb14!Ld20!Ll14!Lb14!Lya7,14,28]&pref=G (Note the PPO is rising and Full STos would come to confirm if we get over 394.)