Mean that this simply MUST be a wave 3 up, or its part of a bigger correction, to last much longer.
The bulls are all over this, just read below posts.
A wave 3 recognition wave or nothing, is my take. Any views welcome of course. I just cant read it otherwise.
I think we are in a channel that will last for a long time.
QUOTE (cgnx @ Mar 25 2008, 11:48 PM) 
I think we are in a channel that will last for a long time.
Howdy,
I think you're both wrong and we're starting another run to last about 60 days or so based on seasonal patterns - as verified by Captain Price.
I went long monday morning, broke about even for the day, but everything went nuts yesterday. I'll be adding more.
And I'll be adding to this rally until this rally stops.
Folks the ONLY thing that matters is what the bullion and mining stock prices are actually doing. Right now they're rising and I'm riding. When they stop rising, I'll stop riding. It's not really that difficult.
peace,
rono
QUOTE (Tor @ Mar 25 2008, 05:49 PM)
Mean that this simply MUST be a wave 3 up, or its part of a bigger correction, to last much longer.
The bulls are all over this, just read below posts.
A wave 3 recognition wave or nothing, is my take. Any views welcome of course. I just cant read it otherwise.
The bulls are all over this, just read below posts.
A wave 3 recognition wave or nothing, is my take. Any views welcome of course. I just cant read it otherwise.
Tor, this is a Bull market, most people are long from long ago, I would expect more Bullish Posts.
The number of posts on this board has no meaning statistically......get the daily posts up to 2000 and then maybe.
In the short run no one knows for sure where Gold or Stocks are going....we wait for a setup and act accordingly.
Using the GDM as a reference, when the 5% and 10% Trends converge, there is a tendency for price to accelerate, sometimes in the direction of the prior trend sometimes not. In the current case, the snapback rally is moving towards the convergence and will either rally above the convergence or tag it and resume the downtrend. Watch the 1380-1400 level carefully. The setup is close place your bets.
woody seems we are at the base of that rising channel on sentiment
QUOTE (dougie @ Mar 26 2008, 12:20 PM)
woody seems we are at the base of that rising channel on sentiment
Dougie if this is a serious correction then moving below 50 would give a higher confidence entry fwiw
QUOTE (Woody @ Mar 26 2008, 02:02 PM)
QUOTE (dougie @ Mar 26 2008, 12:20 PM)
woody seems we are at the base of that rising channel on sentiment
Dougie if this is a serious correction then moving below 50 would give a higher confidence entry fwiw
I think this is a ABC down move off 1033 Gold. We are currently in the B up with C to follow. I am wrong if we close at a new high but doubt we see Gold over 970. Two closes over 995 and I will close out the SPPIX I will put on when the HUI crosses 460. Shorting in small pieces HUI from 460-480. I could be wrong.