gold technicals, page-12

re: gold technicals $347's.. Hi Kenny,

my charts don't give a rats arse about any of that.

If all that mattered, why is OXR trading at any point lower than its high. You yourself nominated 56 as the retracement if I remember correctly.

Market prices are a reflection of crowd opinion and like a pedulum will frequently overshoot the mark to both sides. On average though they eventually get it.

Overall I agree with you on OXR in all respects. Its my favourite gold/copper company also, but the insto's will shake out the little guys and the weaker longs before this consolidation is complete and the rise continues.

Call it money transfer fom the impatient to the patient or whatever you like. The chats just tell you what level the combined effect of buyers and sellers actions will most likely drag it back to before it runs again.

Cheers,