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

To: mabiba who wrote (98524)	4/1/2008 10:17:29 PM
From: Sweet Ol	Read Replies (2) \| Respond to of 206317

BZP. Here is my annotated chart. It shows that the latest impulse wave set had the 5th wave aborted on Friday at $23.20. What should follow is a 3-wave correction to at least the 38.2% Fib, which, incidentally, corresponds to the bottom of the BB. However, I expect a brief rally up a bit and then the final part of the correction down to the $17-18 area. Notice that the correction in November did not quite get to 38.2% and it was followed by an X-wave and then a Flat in December and January before starting the latest impulse wave. That relieved the over-bought condition. BZP seems to be a news driven stock, so that pattern could repeat until there is some more really good news. FWIW, that is my EW analysis. <img src="http://stockcharts.com/c-sc/sc?s=BZP&p=D&i=p55437565396&a=94761054&r=260"> BTW, we have already lost so much of the expected correction that I plan to tough it out unless it corrects more than I anticipate. I think there are a lot of Wall Street lemmings who think the banking crisis is over so they sold commodities and solid stocks to get back into their old favorites at "bargain prices." Bear market rallies are truly sucker rallies and people lose a lot of money in them. Best to all, JRH