ThorAss Posted May 19, 2004 Report Share Posted May 19, 2004 Bored! Thought I'd give Charmin a well earned break and since I'm nearly as oblique, doubt anyone will notice. Are we looking at a change in behaviour or more of the same in the PMS? I've included a 60 minute chart with my own entry and exit points and as you can see I haven't sugarcoated it. But you will notice the subtle change of behaviour I have exhibited recently. Let us hope that a day will come soon where it is safe to hold longer than a few hourly bars but as yet such a day has not arrived. The POG currently at 379.5 up 2.6, at least confirms yesterday's late run up in the PMS. But today is a new day in A Brave New World. Link to comment Share on other sites More sharing options...
Charmin Posted May 19, 2004 Report Share Posted May 19, 2004 Ino has the answer I see POG at 380 and yes, yes, yes, buck down at least half a buck. After last nights Wyckoff session and seeing the charts labelled "weak reaction" the first thing that came to mind was we need some Rescue Heroes to get POG moving. Yes, there are those that see the 365 area, and there are those that see 340 area too if weakness persists. Same for silver weakness. When demand doesn't show up then it usually goes lower to find it. The second thing that came to mind was last week some were still bullish on the SPX and this week weakness now shows up to obviously confirm that the internals suck. I'll maintain my June 6, 2003 downside targets for those indexes and hopefully the PM's can have some change of behavior and work like magic and do just the opposite of all else. I can't wait to see what the overnight summary has in store - when it appears at http://quotes.ino.com/analysis/markets/ "Closes below the 20-day moving average crossing at 91.09 would signal that a top has likely been posted." Link to comment Share on other sites More sharing options...
Butterfield 8 Posted May 19, 2004 Report Share Posted May 19, 2004 End just posted Neely forecast: gold up to about 410, down to 200. Is he a waver? Link to comment Share on other sites More sharing options...
Ageka Posted May 19, 2004 Report Share Posted May 19, 2004 Goldstocks either did not trade yet today or are at the same price as yesterday From my sciences fiction books I would call this STASIS time is suspended nothing moves Gold unchanged in Euros from yesterday Link to comment Share on other sites More sharing options...
Ageka Posted May 19, 2004 Report Share Posted May 19, 2004 INO METALS June gold was higher overnight due to weakness in the U.S. Dollar and is challenging initial resistance marked by the 10-day moving average crossing at 378.90. Closes above the 20-day moving average crossing at 385.40 are needed to confirm an upside breakout above the March-April downtrend line thereby signaling that a bottom has been posted. Stochastics and the RSI are diverging and have turned bullish signaling that a low is in or is near. Closes below last week's low crossing at 371.30 would open the door for a possible test of weekly support crossing at 363.40 later this spring. Overnight action sets the stage for a steady to firmer tone in early day session trading. Link to comment Share on other sites More sharing options...
DrStool Posted May 19, 2004 Report Share Posted May 19, 2004 Your Golden Stool, including short and long term updated charts and price targets, is loaded. Even if you are not a goldbug, you should check out the Golden Stool. It's in your Anals daily. Take a subscribatory and download the Golden Stool RIGHT NOW! 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW!? Link to comment Share on other sites More sharing options...
5thelement Posted May 19, 2004 Report Share Posted May 19, 2004 Ino has the answer I see POG at 380 and yes, yes, yes, buck down at least half a buck. After last nights Wyckoff session and seeing the charts labelled "weak reaction" the first thing that came to mind was we need some Rescue Heroes to get POG moving. Yes, there are those that see the 365 area, and there are those that see 340 area too if weakness persists. Same for silver weakness. When demand doesn't show up then it usually goes lower to find it. The second thing that came to mind was last week some were still bullish on the SPX and this week weakness now shows up to obviously confirm that the internals suck. I'll maintain my June 6, 2003 downside targets for those indexes and hopefully the PM's can have some change of behavior and work like magic and do just the opposite of all else. I can't wait to see what the overnight summary has in store - when it appears at http://quotes.ino.com/analysis/markets/ "Closes below the 20-day moving average crossing at 91.09 would signal that a top has likely been posted." Charmin: If the S&P and Nasty still have more correcting to do... I'll stay in cash and hold off on buying miners... I'd rather pay more and be more sure that we've finished correcting... a "climatic" spike down in S&P could take everyone else down along for the ride.. I'm seeing 1060 as a 50% Fibo retrace for S&P from Aug 2003 lows for S&P... Link to comment Share on other sites More sharing options...
ThorAss Posted May 19, 2004 Author Report Share Posted May 19, 2004 If the early trading is to be believed there's going to be a big kah-cling today. KRY (don't have) up 25% to 2.48. It traded at 1.60 earlier this week. And MGN (do have) up 26%. Link to comment Share on other sites More sharing options...
Butterfield 8 Posted May 19, 2004 Report Share Posted May 19, 2004 From what I can tell all E wave guys are with Prechter's scenario of 200 pog. But I have never found Elliott waves to be predictive. any thoughts? Link to comment Share on other sites More sharing options...
ThorAss Posted May 19, 2004 Author Report Share Posted May 19, 2004 From what I can tell all E wave guys are with Prechter's scenario of 200 pog. But I have never found Elliott waves to be predictive. any thoughts? Ya, I think they're great for explaining what happened. They're also good in the sense of ... well if this happens then it's an ABC of 123 but if this happens then it's a 3 of 5. Great I can do that without all the jargon. Link to comment Share on other sites More sharing options...
Hi Ho Posted May 19, 2004 Report Share Posted May 19, 2004 From the big volume short covering close yesterday and excellent follow through in the pre market, today is going to be huge Link to comment Share on other sites More sharing options...
Guest Posted May 19, 2004 Report Share Posted May 19, 2004 Nautrally, they've started shaving the overnight gains... Nice move regardless. Good to have you back Thor, and Charmins still rockin. Maxi, last nights gold chart at the end of that thread was not encouraging... Darn it. Link to comment Share on other sites More sharing options...
Old Habits Posted May 19, 2004 Report Share Posted May 19, 2004 End just posted Neely forecast: gold up to about 410, down to 200. Is he a waver? Butterfield - End is a good man, he sends me Neely's charts alot thru e-mail. Problem is, Neely has been wrong about the market for over a year now. Haven't seen the pre-market on KRY, but a 25% move would be a welcome relief, it has been getting hammered and is my second largest holding. Hope this is not another gap and crap day. The move in the POG seems a little overdone considering the move in the $. We'll see. Link to comment Share on other sites More sharing options...
ThorAss Posted May 19, 2004 Author Report Share Posted May 19, 2004 KRY and MGN turned out to be bad prints and are up 4 and 8% respectively. And thanks habits. Link to comment Share on other sites More sharing options...
ThorAss Posted May 19, 2004 Author Report Share Posted May 19, 2004 For some reason the song "I Want To Break Free" keeps popping into my tiny little mind. Go PMS boyz go. Link to comment Share on other sites More sharing options...
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