max monday, page-22

PB, I share your view on specs. I don't trade the indices at all. Index trading by nature must have a winner and a loser but at least with the specs there is a chance a mountain of gold or copper or a river of oil will be found whereby all holders may prosper. (call me a romantic). But I also concede Mongos point that they can be fraught with danger and I agree nimbleness and lack of emotional attachment is a must.

Anyway...I digress.

Here is a chart of speccie oiler NWE but quite a few speccies I watch are following this same basic formula. The synopsis of the plot is that these speccies started on a more gentle uptrend at the market low last year; they then got overexcited at the beginning of october and broke above their channels and found support on top of their channels through october. But since then they have been in a shorter term downtrend as they break back down into the longer term channels....

My hope, my dream is that they soon find a base at the bottom of their longer term channels and then continue the longer term journey upwards. I continue to watch and pray.