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wndysrf

Saddam Shocker

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Well,

 

They held the Dow up today, but the other indexes all did outside reversals.

 

What I would like to see now, is the march bottom in reverse, with a solid long candle follow thru manana.

 

It's all setup, da bears just gotta take control now, and bust those swing lows from last week.

 

Tomorrow should be another interesting day.

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Now that was SWEET! Late last night TE and I were talking about both of us being blown out of our stops in the A.M.- Hell not even close-another reversal day! Is this the one that breaks the camels back?? The bag holders up at 1082.79 have to be a little pissed-don't they! I suspect this is the real reversal, I posted out last night that the Commercials made their biggest move to the short side in a long time and may well be even shorter now. I think so because there was a lot of put buying on the spike this morning. You add to todays action the spectacular performance of Gold and the whacking of the $ to a new low and things don't look so good for Bully. What may be part of this (and I've said it before) is WHO, WHO is left, willing and able to fund the deficit??? Last weeks auction which went badly says it all. Either rates go up commensurate with risk or no one buys the debt. Trade Safe!

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Guest jrmfl
Damn straight gold stocks are vulnerable.

 

1. Two HUI fib clusters offer resistance. One at 270 area, one at 240 area. We are under both.

2. Today's top was at 8 day MA

3. If today's top was the 78.6 retracement level of the PROJECTED correction, the target is 185 area.

4. The HUI is lagging the metal.

5. The US peso is nearing support at 86.

6. People are pretty eager to buy the dip.

7. This two day bounce had very little accumulation. If gold stocks are going higher, I would expect some basing and filling.

 

My strategy going forward is to short gold stocks near HUI 250 and then again near 270, depending on the structure of the move. I'm a buyer at 210 and 185. After that 258 to 220 drop and subsequent bounce, the "easy" quick $$ has probably been made, unless 250 is hit in the next couple days.

forward, never straight scott.

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Gruff! Gruff! Gruff! Gruff!

Way toooooo gooooooooo Gruff! :lol:

Absolutely!!! The Gruffmeister had that 1089, which is where the fucutures died last night, hanging out there for months and months on end. Kudos Gruff! B)

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Big time volume piled into HMY at the close, confirming the break to the upside.

 

S. African shares are pricing in a bounce in the dollar and a bounce in gold.

 

That could be the real shocker, the U.S. Peso bounces and gold bounces with it.

post-7-1071525870.gif

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Great stuff Stooltowners - Goldmember, Kwave, Gruff, Brian4, et al

 

Hope this is the set-up we've been predicting here. Looks like the one I wanted.

 

 

 

Only downside was that SEH was laid up in bed with a bug this am.

-----------------

Doc you were spot on with the mortgage market and money supply call.

A world of hurt coming soon to the financial industry.

 

SEH

post-7-1071525975.png

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4:52PM AMZN trades $0.40 lower in after hours; : Hearing that Lehman is starting coverage of Amazon.com with an Underperform rating and $40 tgt. Firm also reportedly starting Interactive and Yahoo! with Overweights, and eBay with an Equal Weight.

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