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To: Galirayo who wrote (7768)	7/16/2008 12:15:16 AM
From: skinowski	Read Replies (1) \| Respond to of 41469

Message 24761787

To: Galirayo who wrote (7768)	7/16/2008 2:25:31 AM
From: jaker	Read Replies (1) \| Respond to of 41469

SPX 1152, Bear Target, interesting the line target showed up on the Speed Resistance line, I run both Gann & SRL... the gann Primary date was calculaed from March 17 low... I usually calc from trough to trough... chart subjective on selective anchor points. h1.ripway.com

To: Galirayo who wrote (7768)	7/16/2008 9:00:36 AM
From: skinowski	Read Replies (2) \| Respond to of 41469

I'm becoming convinced that the Oil complex has entered a meaningful pullback. OIH at 212 - just as we discussed (but I didn't do) was an excellent shorting area. If USO will retrace only 38% of its advance this year, it is likely to touch under 100. Deeper declines are possible, and maybe even likely. One argument against a large bear market in oil is the COT - Commercials are relatively long, and specs short. Very unusual behavior during a major rally. However - too many people are playing too many games these days. Probably not wise to give this fact decisive weight. DUG has serious resistance near 35. Stops for now, imo, should remain under 29.