Jump to content

IMPORTANT: Wednesday May 19, '04


Recommended Posts

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.

post-11-1084955571.gif

Link to comment
Share on other sites

  • Replies 72
  • Created
  • Last Reply

Ino has the answer :lol:

 

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

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

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

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

Ino has the answer :lol:

 

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

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

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

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

Archived

This topic is now archived and is closed to further replies.

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...