Further update - sent to subscribers - November 7th, 2002

One has to wonder. The chief UN weapons inspector in Iraq during the nineties, Scott Ritter, is now back in Iraq, in a private capacity, arguing against present US policy towards Iraq. And as Chief, in 1998, he had cause to ask at the time why it was the US was impeding, in his view deliberately, the UN's progress on assessing Iraqi capabilities. And this guy is a US citizen! (And I have never yet met one that isn't so patriotic that it becomes nauseating.)

Why do I mention this? Always remember, what you see presented to you is rarely the real agenda. Only charts can pick a way thru the maze of vested interests.

Nothing like a good war to lift a superpower out of recession, or to take the minds of its people off other political agendas, or to take such issues out of public debate; the pain of falling markets, CEO corruption, the vested interests of oil. Dare I go on? One of the strongest vested interests in the US is the military complex. A lot of US senators represent key areas with a military site nearby employing thousands. Always good to have them fully occupied and profitable.

Very interesting front page of UK paper The Independent Sept 7. The article claims the US was told of impending Taliban attacks on the US, reported to the US consul general in Pakistan third week of July, in the presence of another intelligence official. The Independent confirmed this meeting took place also. The info apparently not passed on. Now I can't fault that, nor blame anyone on that score, I reckon such intelligence agents would get loonies doing this all the time. What is far more interesting is; this guy who gave to the US consul general quite an account of what was to come, was not some high ranking senior official, merely an aide to the then Taliban Foreign Minister. Now if he knew, how many others could have known? Again, further suggestions for me that the market had begun to price in the 11/9 event before it happened, because more than a few people knew it was coming. But I cannot prove it of course.

Yet another interesting report, BBC this time, one hour documentary on who was behind the US Anthrax attacks. Scary. Don't miss it if shown on Aust TV.

To some stocks. EMP and gold.
Note the mid point accumulation, at 90d off the top. Reminds me very much of Studebaker chart II in Gann's book. Okay, we have some seeming accumulation; what do you do with the information. One could buy now and hold, with stop under previous low, or wait for another higher low before buying, or wait for the crossing of accumulation tops - as per say GYM, where you can see what I mean. EMP itself is not the most heavily traded stock, but I just wanted to highlight the pattern. Gold stocks should be watched for that now, but watch for stronger gold stocks, that showed less accumulation time, eg CRS, or stocks that did not made it back to the mid point, eg EQI. Watch gold and oil. They are lining up for a possible repeat run of the past range. (ps today's action beat me to it)

Gold stocks to watch, emp, eqi, gbg, gym, Ihg, Isg, ncm, pem, rsg, sed and maybe tam.

When not so many stocks are trading into new all time highs, nor breaking out of long stretches of accumulation at low prices, other trading tactics may be required, such as the above at mid points, to stay profitable.


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