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Daily Digger - Tuesday Jan. 18, '05


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not necessarily new lows, but more like

cycle lows. i thought the lows would come around the anniversary date and i still think that they will. i will add as we continue to head into the 21st. dharma

ps. planning to add to my physical too.

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XAU:

 

Sometimes you get what you wished for.

 

I expected a breach of 92.59 to end subwave iv. It happened and all the shorts covered.

 

We are now in red 4 up. Red 2 lasted 6 days and was a stretched out zig zag. My guess is that red 4 will be shorter and more violent. The intraday chart shows an impulse that corrected in the afternoon.

 

Wave 4's often retrace to 4's of one lesser degree-- 96.35. From a non-Elliott satandpoint, a breakout from a wedge retraces to its point of origin-- 96.35. A 38.2% correction takes us to 95.60, while 50% is to 96.54.

 

I expect more whipsaws. Those 1's and 2's in December mean 4's and 5's now.

 

I had orders in to buy CBJ.TO that missed by a penny. I've added to my ABX long January 22.50 call hedge. Still short.

post-1352-1106100262_thumb.png

post-1352-1106100350_thumb.png

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Bear I'm looking for one more push down and then off to the races. Hopefully I won't be riding a donkey. Got an opinion on any of these? Alamos Gold Cardero Resources and Nova Gold. Thanks Bear.

 

 

Trader:

 

My count says 2 pushes down. When we put in red 5 it will only be black 3.

 

Here's a count that says the decline is finished:

post-1352-1106103792_thumb.png

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