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

To: mred1998 who wrote (41582)	4/8/2005 2:16:22 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 206223

Mred. Don't make the mistake of drawing a trendline you want to see, instead of what is there. The place to start the trendline for this most recent period is the low of the week of 11/14/03 at 9.12 (the next week it was 9.13, a nice double starting point). Don't use the 8/7 spike low point of 8.82 (although that would give you a trendline bottom now of 10.70). Using the proper trendline, connecting the spike bottoms for the weeks of 11/14/03 and 5/24/04 will show you that THAT trendline and all other possible trendlines have been broken. No trendline on this stock will support you, so you have to look back to other possible support/resistance. As noted the first one I see is at about 10. Any purchase before that would expose you to a likely 15% haircut off the bat. JMHO, Kb