Gold Majestic Posted May 5, 2005 Report Share Posted May 5, 2005 Reflection on the Dollar by the way - what happened to the big dollar short covering everyone and his brother was so sure about last fall? don't hear too much from them anymore now that more and more signs of a slowing economy become apparent. Anyone still bullish on the dollar here? Link to comment Share on other sites More sharing options...
bearvest Posted May 6, 2005 Report Share Posted May 6, 2005 if the xau/hui can take out yesterdays highs, it will look like 5 waves up. i will buy the .618 retracement. dharma <{POST_SNAPBACK}> Looking for 180 here. <{POST_SNAPBACK}> I'll second that, Dharma. And Trader could be right as well. Here's the 60 minute chart on NEM that I've been posting. A rise above 38.89 creates 5 waves up and establishes the short term trend. It also leaves the decline from April 20th a 3 wave countertrend move. A decline below 38.23 leaves 3 waves on the chart as wave 4 cannot overlap wave 1. It leaves the rally off the April 28th lows a 3 wave countertrend move. Link to comment Share on other sites More sharing options...
bearvest Posted May 6, 2005 Report Share Posted May 6, 2005 XAU: The pattern isn't as well defined in the XAU. However, the best fit is a bearish count. The C wave of 4 is an impulse, as it should be. Link to comment Share on other sites More sharing options...
Charmin Posted May 6, 2005 Author Report Share Posted May 6, 2005 Gold Majestic - I love your charts.... along with the fundamental analysis All that bad news shows up in the charts don't it.. Lately... Banks, Cancer and Gold http://dvtechtalk.com/May/May5.htm and some energy http://dvtechtalk.com/May/May6.htm Link to comment Share on other sites More sharing options...
Charmin Posted May 6, 2005 Author Report Share Posted May 6, 2005 well guys, jobs report came out and dollar is rocketing back to old highs nearing resitance at 84.65 silver and gold should retest lower Link to comment Share on other sites More sharing options...
Charmin Posted May 6, 2005 Author Report Share Posted May 6, 2005 if silver holds 6.95 then it's strong in relation to gold Link to comment Share on other sites More sharing options...
ThorAss Posted May 6, 2005 Report Share Posted May 6, 2005 No really rally yet. The advance/decline told me so. Look at today. Most all flat to down. Even on the good days many still fell. Looks like we may need a dislocation to turn this around or a lot more time. Link to comment Share on other sites More sharing options...
Charmin Posted May 6, 2005 Author Report Share Posted May 6, 2005 silver is definitely strong inspite of dollar strength today.... Link to comment Share on other sites More sharing options...
Charmin Posted May 6, 2005 Author Report Share Posted May 6, 2005 WTZ unfazed by a lower silver price down to 6.90 Link to comment Share on other sites More sharing options...
Charmin Posted May 6, 2005 Author Report Share Posted May 6, 2005 silver gapped up on Wednesday at 6.88 and now appears to want tofill that gap WTZ gapped up on wednesday an d is much stronger so far... Link to comment Share on other sites More sharing options...
Old Habits Posted May 6, 2005 Report Share Posted May 6, 2005 Reflection on the Dollar by the way - what happened to the big dollar short covering everyone and his brother was so sure about last fall? don't hear too much from them anymore now that more and more signs of a slowing economy become apparent. Anyone still bullish on the dollar here? <{POST_SNAPBACK}> Apparently there are still a few folks bullish on the $. I don't know Goob, this stuff makes me queazy. That being said, with the price of the metals getting hammered as much as they are, if the HUI and XAU manage to close around current levels I gotta think that the selling in the miners might be drying up a little. Course, if they take the POG down to 410, I'll be wishing to see HUI 180 again. Couple of guys over on Goldeagle talking about 300 HUI by year end. They must be smoking the same stuff Ike is. This crap is exhausting. Link to comment Share on other sites More sharing options...
Guest Posted May 6, 2005 Report Share Posted May 6, 2005 there isnt an overlap yet on the xau. but nem has one. standing aside and seeing if a lower low develops. this thing is taking its sweet time. the cot #s are disturbing, looks like there may be one more shakeout. dharma Link to comment Share on other sites More sharing options...
traderfromhell Posted May 6, 2005 Report Share Posted May 6, 2005 there isnt an overlap yet on the xau. but nem has one. standing aside and seeing if a lower low develops. this thing is taking its sweet time. the cot #s are disturbing, looks like there may be one more shakeout. dharma <{POST_SNAPBACK}> Got my gap fills on NG and SSRI holding off till 10th. Maybe. Link to comment Share on other sites More sharing options...
Charmin Posted May 6, 2005 Author Report Share Posted May 6, 2005 XAU retesting the breakdown today 85.50 area Link to comment Share on other sites More sharing options...
traderfromhell Posted May 6, 2005 Report Share Posted May 6, 2005 See NO reason to be long miners here. Three days 185 resistance. We either go down from here or I pay a bit more. Risk reward in my book suks right here. Link to comment Share on other sites More sharing options...
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