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Re: darbyflier post# 6529

Tuesday, 08/12/2008 11:23:30 AM

Tuesday, August 12, 2008 11:23:30 AM

Post# of 24249
Darby, here are the fib levels to look at for support/resistance.

.049 is this most recent pullback, and is now the 200% retracement level.

Assuming that we will close below this level, the next level is .0468, at the 176.40 level.

Then, .0448 is a less important level at 161.80%.

And then a very important level at .0432. It is the 150% level.

I have not had to re-set my fib levels, because the 300% level at the high for GSPG proved to be the high resistance.

Be carefull in this market.. Big brother is as normal, manipulating the PM market lower right now, to create the illusion of world stability. Big bro. can not let fear reign with the newly found problems developing between Georga and Russia. The reality is that this area of the world could come completely unglued in the not to distant future. The euro is dropping against the dollar, and my thinking is that it is partially due to this latest political situation.

Check out qmnm, double bottom at .01. I have been out of this one now for about 1 1/2 weeks. Looking for the double bottom to fail, and will be looking at buying around .0007
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