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Charmin

Monthly Digger - February 2012

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I wonder if we can squeeze 10 more points out of GLD in this move. We'll probably find out this month.

 

The 8 over 21 is the blue moving average above the 21 green. Nice move for price as it broke through the red 50 bar moving average.

(I started the thread out thinking 8 over 21, but it ended up as a 6)

 

http://www.StockSharePublishing.com/ChartLib/GLD_02_01_22_05_1328151928.png

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How'bout this, the E-Wave major count is wrong since in inflation terms the old 80's high was never convincingly taken out, so the recent high is Wave 1 and we are in Wave 2 setting up for Wave 3. So after about ten years of retracing, time begins compressing price for all time new highs as the bull ends around 2020.

 

I still don't expect much action until summertime. Hope I am wrong and some kind of panic sets in but it wouldn't follow a completed consolidation. Summer would be the bare minimum for consolidating sideways before finally breaking out to new highs (even though the HUI chart looks ripe).

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I guess we all lost interest, but since I'm still around and always looking for some excitement, I'll change from a monthly thread to a quarterly one. Maybe we'll see a few of you willing to share your thoughts. For me, I've been working a lot of overtime lately and I've been neglecting a lot of things a long with it.

 

The first quarter thread will be up for your comments.

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