would it be too easy to see us pullback to retest the BO here in XAU, HUI?
or have we just completed a major top , a 5th wave move and now we retrace to the top of wave 1 in a grande 2 wave down?

I wouldn't be surprised at all to see the top here at present levels, but I'm still of the thinking we have a little bit more to go on the upside. March may start off like a "lion" and finish like a "lamb" as the saying goes. Gold has reached my initial target , but I'm disappointed that the gold stox aren't even close to where I thought they would be given these gold levels. Cycle top window is open and the final intermediate term top can happen almost any day within the next couple of weeks if it hasn't already taken place. I would love a quick sharp blowoff top runup to complete. I haven't yet seen the type of publicity that Gold normally receives at important tops...mabey a runup to a bit over the key $1000 level will do the trick for this go around?

Just read Ray Merrimans' latest free astro analysis :


http://www.mmacycles.com/weekly-preview/mm...-march-3,-2008/

....."And then also, “On March 4, heliocentric Mercury will also enter Sagittarius through March 17. This is a period that has a very high correlation to sharp price swings in many markets, especially precious metals and currencies. With heliocentric Mercury in Sagittarius at the same time as the new moon in Pisces conjunct Uranus around March 7, it could be a very dramatic time coming up.” .....

I suppose there's more time in the wedge but sooner or later, it has the problem
wave 5<3<1

Keep moving 'up' my fib lines - as of today (if up move is over) looks like $850 is a likley target, however, I'm still looking for a quick move over $1,000 next week before we consolidate again - my targets after consolidation (May 2008 timeframe) are now $1,150-$1,200.

http://stockcharts.com/c-sc/sc?s=$GOL...19758&r=161


stubaby

Howdy all,

Yeah, I keep feeling that a pullback is due, but it keeps going up so I'm staying long and moving up my mental stop loss points.

The big issue is and will continue to be the gold/XAU ratio running so near to 5.00. Man this is stratosphere territory and waaaay out of whack. The articles I've read, have anything around 5 as a bullish signal and anything around 3 as a bearish signal. Who knows.

What it DOES show is that miners are lagging something terrible behind the bullion prices and that either the miners have to increase or bullion has to drop for this to get back towards a 4.00 equilibrium level.

And we've got the seasonal weak period approaching of late spring/summer.

But repeat after me, The Trend is My Friend, The Trend is My Friend, The Trend is My Friend. ;-)

You all take care now and enjoy this rascal - this is one of those sweet spots the market occasionally has that are for us to make some serious money. Don't fret and stew, and figure out some way you're going to go wrong. Just ride this sucker and enjoy it and sooner or later, when Captain Price tells us, the party will be over for a while and he will tell us to lighten up.

For now, the long term bull is just rolling along and the short term bull is roaring.

peace,

rono

good advice