bearvest Posted February 24, 2005 Report Share Posted February 24, 2005 Bearvest, Many thanks for sharing your knowledge and charting skills with us. This TA novice does not understand what you mean with 'the 5th likely to diverge negatively'. Please explain. Thanks. OldMan XAU: Seems like 4 waves complete with the 5th likely to diverge negatively. <{POST_SNAPBACK}> <{POST_SNAPBACK}> OldMan: Regrettably, we share something in common. Age. But we have solice in the fact that it brings knowledge. My thesis is that the terminus of 3rd waves is best represented, in all time frames, by MACD, a trend indicator, or RSI, an overbought/ Dover Sole indicator. The MACD or RSI will reach its extreme at the end of wave 3 in an impulse or wave c in a correction. Corrections are tricky. Extreme trend and overbought/Dover Sole levels correspond with price. There is usually no divergence. In 3rd wave extensions, in impulses, the 3rd of the 3rd will evidence the MACD extreme, and a double divergence will occur. Thus, the 5th wave, in impulses, which sets up the new price high or low, will be unconfirmed by MACD or RSI. After 3 waves up, you have to be cautious. The prior count will give you guidance as to whether the 3 waves will morph into 5, or reverse direction. But at that point, you must exercise caution. Never trade a 4th wave. You may hold if you've been lucky enough to have captured the 3rd wave. But trading should be restricted to when you have a completed pattern on the 4th, such as an ABC zigzag or an ABCDE triangle (a falling or rising wedge). Hope this helps. Link to comment Share on other sites More sharing options...
Moon Man Posted February 24, 2005 Report Share Posted February 24, 2005 Moon - can't find those Northern Orion warrants. NNO.WT.A????????? <{POST_SNAPBACK}> Yup Old Habits, that is the right symbol. (NNO.WT.A) Maybe your broker hasn't enabled it yet, since it is a new issue. If you use Penntrade then the symbol is NNO''A-T (between NNO and A, are two times the ' sign) Good luck. Link to comment Share on other sites More sharing options...
trinharder Posted February 24, 2005 Report Share Posted February 24, 2005 NEM beat by .09. That should get a decent reaction going for the XAU eh? Link to comment Share on other sites More sharing options...
OldMan Posted February 24, 2005 Report Share Posted February 24, 2005 Yes, it did. Many thanks! OldMan ...Hope this helps. <{POST_SNAPBACK}> Link to comment Share on other sites More sharing options...
Windbreaker Posted February 24, 2005 Report Share Posted February 24, 2005 Earnings? You wanted earnings?? Link to comment Share on other sites More sharing options...
Guest smsc Posted February 24, 2005 Report Share Posted February 24, 2005 Maybe not. POG going up would help. NEM beat by .09. That should get a decent reaction going for the XAU eh? <{POST_SNAPBACK}> Link to comment Share on other sites More sharing options...
BeerMarket Posted February 24, 2005 Report Share Posted February 24, 2005 World Gold Council issued a report on gold supply / demand - demand up in 04 but may not continue in 05 (report provides many details of 04 demand but only makes a brief general statement about 05): WORLD GOLD COUNCIL REPORTS STRONG CONSUMER DEMAND FOR GOLD IN 2004 (PDF file) Figures published today by the World Gold Council (WGC) reveal that the last quarter of 2004 represented the fourth successive quarter of strong net consumer demand for gold, with quarterly rises of 6% in tonnage terms (18% higher in dollar terms) compared with the same period in 2003. In 2004 as a whole, a higher gold price did not deter buyers, with net consumer demand 7% higher than 2003 in tonnage terms and 20% in dollar terms. Link to comment Share on other sites More sharing options...
Charmin Posted February 24, 2005 Author Report Share Posted February 24, 2005 gap below and confluence holding so far Link to comment Share on other sites More sharing options...
Charmin Posted February 24, 2005 Author Report Share Posted February 24, 2005 SIL breaks above the ice and highs of December Link to comment Share on other sites More sharing options...
Charmin Posted February 24, 2005 Author Report Share Posted February 24, 2005 I bought a tad of SIL here up to the 20 area it appears the 18.10 was creek and 38% retrace 68% is in the prior tops around 19.57 I'd be looking at the 18.10 area for stops below Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2005 Report Share Posted February 24, 2005 Earnings? You wanted earnings?? <{POST_SNAPBACK}> Can someone give a long term charting opinion on DROOY...? SMSC is yr zero scenario trigered? or is it final capitulation? opinions welcome Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2005 Report Share Posted February 24, 2005 I guess Oil is Utilitarian Gold... far more desired.... Link to comment Share on other sites More sharing options...
Old Habits Posted February 24, 2005 Report Share Posted February 24, 2005 The World Gold Council is a complete farce according to Murphy - more interested in gold as jewelry than as currency. I'm going to put my order in for DROOY at .36 Yahoo's book value on the stock. Moon - I can't even find that symbol quoted on Yahoo, which was where the article you posted came from. NEM is the leader. As long as it moves forward I think the miners are going to be okay - except for the disasters in crap like DROOY. Link to comment Share on other sites More sharing options...
Metamucil Posted February 24, 2005 Report Share Posted February 24, 2005 Launch pad....... Monthly view of NEM; bullish engulfing. Emerging from wave 4. Link to comment Share on other sites More sharing options...
Moon Man Posted February 24, 2005 Report Share Posted February 24, 2005 I second VS's call on Gammon Lake Resources.(Amex:GRS TSX:GAM) It's one of the few silverstocks which hasn't leaped firmly from the lows. Perhaps because it didn't print a large inverted hammer below support, like some of the other stocks have done recently. Anyway, me thinks look good. Re DROOY, I always think there is enough time to pick up that stock. Personally, I like to trade it late® in the rally.... Link to comment Share on other sites More sharing options...
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