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To: crustyoldprospector who wrote (22077)10/1/2006 12:21:08 PM
From: SwampDogg  Read Replies (1) | Respond to of 78419
 
<<POG is expected to drop to $505 if you look at the weekly>>

"Expected" would be a pretty strong word to use.
Gold can do many things as has been discussed. All one can do is look for clues along the way. IMO the market reaction to NEM awful news was somewhat bullish and may make the more bearish possibilities less likely.
As far as posting the daily P&F chart goes, just found it interesting. The weekly will obviously take some time but a bullish watch signal has also been generated.
Everybody seems to have the same outlook

Small rally
New Low between $490-$550
New high

Makes it very unlikely.



To: crustyoldprospector who wrote (22077)10/1/2006 1:44:44 PM
From: Claude Cormier  Respond to of 78419
 
An observation of the charts covering the last secular bull market and following bear market (1970's-1980's) suggest that it is generally not possible to "expect" a specific behavior. We can certainly observe and guess, but that is all. That is all the charts are allowing us.

Only at extreme readings can we "expect" something. I don't think that we are not at extremes right now in the PM market.