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And Keep Asking Those Questions


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Guest The CoinGuy

Fart,

 

We'll be hearing it's going to 180-200 all the way to a $1000...I want to see the fundamentals, as well as the technicals behind these calls. Take a look at Prechters rating on Hulbert, it is downright terrible. As far as Neely goes, I gave him a listen, because I like TE, but doesn't mean I have to agree. I see underlying fundamentals that support gold, until I see different, this is a bull market, that has just broken out of a long term decline(on the 20 & 35 year chart), not to mention the saucer(cup&handle to some) bottom.

 

To me, it's a thing of beauty,

 

The CoinGuy

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I know Neely's made lots o money for TE, but bald predictions are worse than useless. If the man can actually tell the future accurately, then he'd be lying on a beach. If he cannot, then he must be willing to share his methodology to allow others to evaluate the "calls" he makes on the raw data. If he doesn't, then it's nothing more than snake oil. The first time I wasted my time listening to Neely, he had predicted a Crash on a Wednesday in May, May 4th or something. It didn't happen- nothing happened that day or near that day. 2 weeks later Ike interviewed him again and called him on it. He claimed to not remember having made the prediction and shrugged it off. Haven't listened to him since, but I respect the respect that others have for him. Obviously I'm not smart enough to understand the man.

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CoinGuy, the bearish calls for gold are based technically on Elliott Wave counts and fundamentally on deflation scenarios.

 

The good thing about e-waves is that we have a pre-defined point at which we'll know that the count is wrong. The count that points to POG at 185 says that the current up move should end at 345-355. So, if the POG manages to close solidly above 355, we know for sure that the count was wrong. Unless and until that happens, we shouldn't dismiss the analysis out-of-hand, though, but keep it in mind as a possible scenario.

 

One thing that bothers me is that I can't figure out what would be the correct count if this one turns out to be wrong. Any Elliotticians out there? I am talking about the weekly chart since the top in 1980.

 

Regards,

Vesselin

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I know Neely's made lots o money for TE, but bald predictions are worse than useless. If the man can actually tell the future accurately, then he'd be lying on a beach. If he cannot, then he must be willing to share his methodology to allow others to evaluate the "calls" he makes on the raw data. If he doesn't, then it's nothing more than snake oil. The first time I wasted my time listening to Neely, he had predicted a Crash on a Wednesday in May, May 4th or something. It didn't happen- nothing happened that day or near that day. 2 weeks later Ike interviewed him again and called him on it. He claimed to not remember having made the prediction and shrugged it off. Haven't listened to him since, but I respect the respect that others have for him. Obviously I'm not smart enough to understand the man.

Well, at least when Doc's wrong he admits it.... Neely always comes up with some kind of "X" wave explanation for his mistakes, I guess that makes him perfect... at least in the rear view mirror....

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