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

To: quehubo who wrote (35420)	9/29/2004 7:40:37 PM
From: chowder	Read Replies (2) \| Respond to of 206092

Que, Since the trend is as strong as it is for OIH, I think OIH at $78 is the worst case scenario. (It's too soon to predict otherwise.) Breaking the 10 day moving average would be a signal to take some profits. Breaking the 20 dma, or falling below $78 would be a screaming sell signal. I agree with your buy scenario. An aggressive approach would be to load up on a test of the 10 dma but, a break below would be a signal to sell the aggressive buys. Therefore, you would have limited risk involved. I always try to buy off support levels. It puts the odds in your favor. Looking forward, watch the volume. Today's selling volume was the highest since the blow-out selling that appeared back when OIH was at $68 and bouncing off the 200 dma. My indicators the last two days were suggesting we'd see some selling and it was well above average. If the price is to pull back further, you want to see less than average volume. If we see the type of selling we saw today, then I don't think the 10 dma will hold. stockcharts.com[h,a]daclyiay[pb200!c20!f][vc60][iut]&pref=G dabum