Charmin Posted December 15, 2004 Report Share Posted December 15, 2004 One step at a time.... After a steep downtrend from a high there will be a point where supply dries up and there will be a cause building retrace. Usually there will be some form or retest of the lows - or a good indication will be a spring of the low. It's normally a good idea to buy the first retest. The pictures.... Look at the chart of lumber for an example http://www.ltg-trading.com/20041214.pdf Link to comment Share on other sites More sharing options...
traderfromhell Posted December 15, 2004 Report Share Posted December 15, 2004 Thanks for the charts Charmin. Always like the Wyckoff stuff. Link to comment Share on other sites More sharing options...
Charmin Posted December 15, 2004 Author Report Share Posted December 15, 2004 That Wyckoff stuff makes me humble Link to comment Share on other sites More sharing options...
Charmin Posted December 15, 2004 Author Report Share Posted December 15, 2004 Gary thinks 420 is the area for POG to retest The reaction looks limp right now but even if we do go to fill the gap up to 44 on GLD or 440 then I would expect a retest. Hasn't the gold stocks basically already filled their gaps higher - they now should retest. Link to comment Share on other sites More sharing options...
Charmin Posted December 15, 2004 Author Report Share Posted December 15, 2004 Latest Buck - remember time frame Link to comment Share on other sites More sharing options...
bearvest Posted December 15, 2004 Report Share Posted December 15, 2004 Charmin: Here's a count for NEM that is very bearish. It counts 5 waves down already completed. It says we are in wave 2 up. The next wave will be 3 down--usually the most powerful and destructive wave. The apparent bullishness of this bear flag has us retracing into the 38% zone. I hasten to add that it is not my "best fit" count , but an alternate count. Here's my Monday count for XAU. This puts us in wave iv of 1. Troublesome as it is, it could be an abc complete and my bear flag could be the start of a new rally. Moreover, the rally over the last 5 days is so weak that it's more consistent with a fourth wave. Paradoxically, the technically stonger stock has a more bearish pattern and vice versa. Can your Wycoff charts reconcile this or must we await price action? Link to comment Share on other sites More sharing options...
GRINCH Posted December 15, 2004 Report Share Posted December 15, 2004 ....grinchie didn't squiggle under the floorboards....with the others...waz busy establishing a new means of production....would like to share an important lesson for loonie-bears like me......who truely see ....what might be.... ....stop invoicing corporations and real-estate businesses....or you might eat that receivables sheet...shift to cash businesses...that provide inelastic nescessities...(food, health, home-services to a greying crowd)....read my signature....if you're not trading with casino money...this game's not for you..... ....grinchie sees current doldrums as a nasty fakeout....good-luck to all.... ...still locked and loaded (oh-hum) ....and excited (when not sleeping) about this bull..... Link to comment Share on other sites More sharing options...
DrStool Posted December 15, 2004 Report Share Posted December 15, 2004 Buy Signals The Great Shakeout Ending, Or Just Pausing? 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! Link to comment Share on other sites More sharing options...
Old Habits Posted December 15, 2004 Report Share Posted December 15, 2004 Argee Grinch - been locked and loaded for 2 years now. Would like to see the pm's lead for a change. Would also like to see a $10 up day in the POG when the $ gets hammered like it is today. Link to comment Share on other sites More sharing options...
Charmin Posted December 15, 2004 Author Report Share Posted December 15, 2004 Charmin: Here's a count for NEM that is very bearish. It counts 5 waves down already completed. It says we are in wave 2 up. The next wave will be 3 down--usually the most powerful and destructive wave. The apparent bullishness of this bear flag has us retracing into the 38% zone. I hasten to add that it is not my "best fit" count , but an alternate count. Here's my Monday count for XAU. This puts us in wave iv of 1. Troublesome as it is, it could be an abc complete and my bear flag could be the start of a new rally. Moreover, the rally over the last 5 days is so weak that it's more consistent with a fourth wave. Paradoxically, the technically stonger stock has a more bearish pattern and vice versa. Can your Wycoff charts reconcile this or must we await price action? <{POST_SNAPBACK}> NEM 43 is the trading range low retest - and between 43 and 50 anything can happen. Lets see if we can see some wide range with demand up now. We could make it up to a .618 retrace at 47. Afterwards maybe we'll see it drift back on lighter volume again. Link to comment Share on other sites More sharing options...
Charmin Posted December 15, 2004 Author Report Share Posted December 15, 2004 NEM 43 was a trading range low to buy - with a stop below that long term confluence around 40.50 47 first Link to comment Share on other sites More sharing options...
Charmin Posted December 15, 2004 Author Report Share Posted December 15, 2004 Inflation.... http://www.leavittbrothers.com/chartspeak/...peak_121204.pdf Link to comment Share on other sites More sharing options...
traderfromhell Posted December 15, 2004 Report Share Posted December 15, 2004 Silver buy stop 6.95. Link to comment Share on other sites More sharing options...
Charmin Posted December 15, 2004 Author Report Share Posted December 15, 2004 BUCK Link to comment Share on other sites More sharing options...
Guest Posted December 15, 2004 Report Share Posted December 15, 2004 fwiw, the action since the low,xau, looks, at this point, like a bear flag. still think we need a retest of the lows before a meaningful rally can take place. the dolar still looks sick dharma Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.