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PMS Daily Digest for Frida's Day, April 25th


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If that wedge is at all correct then it's primary target is it's base, which is where I placed the horizontal support line.

 

Snapback rallies are fairly common so it wouldn't shock me to see this move right back up to the area that's now around 130 before falling further.

 

I'm better at just taking the lines a day at a time than such verbose forecasts, so, these are things to think about but take it as it comes.

 

-Seven

 

SharpChartv05.ServletDriver?chart=$hui,uu[l,a]daclynay[pb13!b50!b200][iub14!la12,26,9!lh14,3][j9652093,y][d20021025].gif

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In reference to ancient Solomon Island trade history Elvira Clain and Vladimir Stefanelli wrote:

 

"Five hundred porpoise teeth would buy a wife ""of good quality"" in the Solomons, and lovers would mention porpoise teeth in their poetry. Porpoises yield up to 150 teeth per animal: therefore in order to keep the supply down, the hunting of porpoises was declared a religious ceremony and could be performed only on special dates. This system of checking the inflation shows that often primitive societies were quite clever in acknowledging the dangers of inflation, and used practical means to stop it."

 

Ref: The Beauty and Lore of Coins Currency and Medals, Clain - Stefanelli/Boltin, Copyright 1974 by Riverwood Publishers Limited

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John at 123:

 

NASDAQ--Acting like the correction will take place in the upper end of it's range. Short term that is bullish, medium to longer term it creates what we call a wedge. It can last for WEEKS and WEEKS so the bears don't start jumping up and down YET. Bears will have their day soon enough and trust me we will have more shorts than you can poke a stick at.

 

http://trending123.com/annotated/chart_of_nasdaq.htm

 

GOLD--$HUI had a very bearish 200 and 50 Moving Average cross. Last time that happened was December 1999. The $HUI index went on to decline nearly 57% before a sharp rally back. Gold stocks a year from now will be MUCH higher than they are now, but first the bulls need to pay the piper. Remember GOLD "NEVER" climbs the wall of worry only the wall of "hope". If this makes any sense we actually have "to much FEAR" on the fundamentals in our economy. It's not until that FEAR turns to hope that I believe gold will rise to new highs. As long as everyone remains AFRAID gold stocks are "capped".

 

Wait till Greenspan starts his new term and everyone thinks things are "back on track". That is when the shiny yellow metal goes to new highs. Not a minute before at least not anything that will ever be sustainable.

 

http://trending123.com/stocks/chart_of__gold.htm

OUCH

http://trending123.com/_xau_.htm

Denial--NOT a river a Egypt

http://trending123.com/_hui.htm

 

Also pivot points and a key price table will go on the 1-2-3 GOLD page. (For when the real bull returns) Until then keep avoiding that sector.

http://trending123.com/stocks/stocks/stock_screen.htm

 

The $XAU "Hit 69.71" Yesterday with a SWING TRADE HIGH expected this week of 69.82. Anyone that didn't get out when the KH2 was within pennies played with fire. Same can be said with NASDAQ coming in 1 dollar. Use these tools to your advantage!

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The fans are looking good this morning...although gold looks like it might need to build a bit more of a right shoulder...

 

 

http://stockcharts.com/def/servlet/SC.web?c=$gold,uu[e,a]dallyyay[pb50!b200!c21][vc60][iut!lb14!lm12!lh14,3][j11956471,y]&listNum=41

 

 

...silver broke above resistance yesterday...

 

 

http://stockcharts.com/def/servlet/SC.web?c=$silver,uu[w,a]dallynay[dd][pb50!b200!f][iuo14!up14,3,3][J11956465,Y]&listNum=42

 

B)

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don't know much about Buck

http://trending123.com/_usd.htm

 

still looking lower according to Doc

 

now, where was Schrol's chart?

...here's the dollar...nice break-down out of a rare diamond pattern on the daily chart...93 is the next major support area...with the 98 area offering minor support...

 

 

http://stockcharts.com/def/servlet/SC.web?c=$usd,uu[p,a]daclyyay[pb50!b200][vc60][iub14!la12,26,9][J11679848,Y]&listNum=34

 

 

...longer view now...

 

 

http://stockcharts.com/def/servlet/SC.web?c=$usd,uu[w,a]daclyyay[d19990130,20030731][pb50!b200][vc60][iub14!la12,26,9][J9850316,Y]&pref=G

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