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Re: None

Friday, 02/18/2005 12:22:49 PM

Friday, February 18, 2005 12:22:49 PM

Post# of 25966
$HUI looks like a double top on the intraday over the last 6 days. Really rounding off on both tops. MACD and RSI tops have declined with actual price. So there is not real worry about being the end of the rally. $HUI looks like its just in a correction from the rally off the bottom on the 8th. My guess is we might get a D and E wave out of its before the rally resumed.

On the Daily my guess is that the 50SMA bounced off the 200SMA. That will be strong support for a move up. Price should move down into the long weekend as traders take profits and they should give us follow through into Tuesday and possibly Wedesday. Price could bounce off the 10SMA which could signal the next leg up. All this reflects that these support levels hold up.

Lot of red on the PM stocks, though only by a couple percentage points. This wekend will give MP traders time to buy the strongest PMs and run them up. I know I'll be doing a lot of DD.

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