Stocks & Commodities V.

23:4 (8): Opening Position by Jayanthi Gopalakrishnan

T
EDITORIAL
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Editor in Chief Jack K. Hutson hey go up, they go down, they go
Editor Jayanthi Gopalakrishnan
sideways … there’s no doubt
Managing Editor Elizabeth M.S. Flynn
Production Manager Karen E. Wasserman
about it: The markets have a mind of their
Art Director Christine Morrison own. We’re well into the first quarter of
Graphic Designer Sharon Yamanaka 2005, and we have seen the market go
Editorial Intern Emilie Rommel
Technical Writer David Penn
through all these movements. In the early
Staff Writers Dennis D. Peterson, Bruce Faber part of January they moved sideways,
Webmaster Han J. Kim then fell, and then rose till the first half of
Contributing Editors John Ehlers, Kevin Lund,
Anthony W. Warren, Ph.D. February. Even the US dollar started
Contributing Writers Don Bright, Thomas Bulkowski, showing signs of strength, at least until
Martin Pring, Adrienne Toghraie
the South Korean central bank said it
wanted to diversify its foreign exchange
OFFICE OF THE PUBLISHER
Publisher Jack K. Hutson
reserves. That sent the markets plunging,
Credit Manager Linda Eades Gardner and we saw the Standard & Poor’s 500
Industrial Engineer Jason K. Hutson
Project Engineer Sean M. Moore
and the Dow Jones Industrial Average
Promotions Coordinator Mike Flynn (DJIA) fall below their 50-day moving averages. The following day, after the South
Accounting Assistants Jane Leonard
Controller Mary K. Hutson
Koreans stated that their diversification strategy didn’t mean they were going to sell
their US dollars, the markets showed a little renewed optimism, although they
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National Sales Manager Edward W. Schramm
Classified & Web Sales Chris J. Chrisman t the close of the trading day, it appeared that the 50-day moving average
Production Coordinator Karen Moore was acting as a resistance level. I also noticed the formation of some-
CIRCULATION thing that could be a double-top formation in both the DJIA and the S&P 500. Is
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lower — to the levels they saw in the latter part of 2004? It certainly is a
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Assistant Subscription Manager Sheila Peterson possibility, but then again they could soar to levels that have never before been
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Subscription orders: 1 800 832-4642 or 1 206 938-0570. And with the markets acting the way they have been — sharp moves in one
Technical Analysis of STOCKS & COMMODITIES™, The
Traders’ Magazine™, is prepared from information be- direction followed by sharp moves in the opposite direction — it’s not a bad idea
lieved to be reliable but not guaranteed by us without
further verification, and does not purport to be complete. to look for low-risk entries. This year should prove to be an interesting one. Let’s
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sit back and see how it goes.
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Jayanthi Gopalakrishnan,
on trademark rights. Editor

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