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The XNG.X (ASE Natural Gas Index) is breaking out of a
penant formation. This group has lagged the market since
last January and should be looked at. My OBTR is flashing a
buy signal. OBTR is On Balance True Range, an indicator that
MS doesn't support, to my knowledge, but I have found to be
one of the best indicators around.
This indicator flashed a buy signal on 7/22 on the XAU
index. I wouldn't dismiss the gold stocks out of hand.
They are worth a look, in my opinion. I put some money in
this group at that time but I'm cautious because this is
trying to call a bottom.
Bob Doeden
Chicago
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