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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: nspolar who wrote (5379)	5/24/2007 4:57:45 PM
From: RonMerks	Read Replies (1) \| Respond to of 50248

Falcon- good question. HUI 285 is a bit arbitrary from a technical standpoint. I am not an 'advanced chartist.' I am just now- understanding most of what the real TA gurus are talking about- but, I stick to my knitting. I can see when stocks enter their final selling phase into declining volume- like the example in URZ. The last sellers are usually 'forced sellers' - so I look for opportunities like that. The momentum traders are not dead yet. They cant resist. The ones that didnt get forced out by margin clerks- will be chasing the bounce and hopefully that 'chase' + some short covering will give me my bounce trade exit. 15% would tickle me- 20% would thrill me- and 25% will turn me into a raving lunatic <vbg>. As far as HUI 285- I think 270-285 will bring in strong buying- as this is where we last saw 2 forced selling liquidations in gold stocks from last May's meltdown. I am doing a 'little' trading to generate what Slider referred to as 'free/house money' ounces of Silver. I'm just taking a portion of my trading profits and buying Silver with the 'houses money' and throwing them in the vault. Who knows- one day I may wake up and Silver's at $50 again- and I can cash out and go down to Keeneland with cash in hand and buy a real contender <vbg>. Ron fwiw- I bought some more gold & silver stocks today. Now about half way in. The rest waiting for a 285-270 HUI - or silver in the low $11's. Might add 'options' verus shares on the next wave down. I think the sector may turn around and rally again in August. An August bottom- that's my call!