On a very ST basis, I think we will see the 162% retracement at 1294 rather
quickly. Unless we take out Thursday's low before we get there,
1294-1300 is likely to hold the fort for some time.
----- Original Message -----
Sent: Sunday, December 04, 2005 7:57
AM
Subject: Re: [RT] Trade Management
I don't like equities, but it's hard to be bearish with all of the
breakouts and the recent consolidation which was pretty tight. I would have to
say equates are bullish until they show evidence to the contrary.
Gold has probably had its run for now. I expect it will consolidate
before moving higher. Attached is monthly chart showing rise into pretty tough
overhead resistance. Note consolidation behavior 4-15-35 and expect something
a bit more frothy and quicker breakout to north.
Earl
