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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: Dan Lisman who wrote (3318)	9/27/1998 6:47:00 AM
From: TATRADER	Read Replies (4) \| Respond to of 59879

Dan and others.....Some of you may have been wondering why I have been going long on oil stocks and gold for sometime now...Reason being is the technicals on the charts...In fact very soon, I will only be trading gold or shorting select stocks...Here is why... Four of the major indexes are displaying Head and Shoulder Tops.... AMEX----Head and Shoulder top with neckline at 660 NASDAQ---Head and Shoulder top with neckline at 1075.00 DOW---Head and Shoulder top with neckline at 8400 Russell 2000---Head and Shoulder Top with neckline at 420 We may get a short-term burst toward the necklines of these indexes with an interest rate cut...But the overall picture is very bearish.. The world economomies eventually will drag us into the mud.... Lack of trust in currencies worldwide and the weakening of the dollar will create a huge bull market in gold....You all know the slogan of buy low, sell high...Well gold has been in a bear market for years.... Buying precious metal stocks when gold is below 300.00 an ounce is very smart, imho....Right now we have a short-term correction in gold...If the index comes back to the 68-72.50 area, I will be loading up the truck in my portfolio with gold stocks.... I strongly advise only day trading if you are going long in other types of stocks,or shorting.....Good luck to all of us.....I have done my scans and have four stocks for Monday.....Will post after entry... Regards, Mark