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Charmin

Daily Digger - Mon. 5/9 to Fri. 5/13, '05

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The Sunday Night rage on M2M is Wndy ....

 

"Asian Central Banks must be re-accumulating T-Bones, Fannie Fubar paper, or other MBS garbage. Relentless appetite for U.S. Dollars continues in Asia.

 

On the verge of a breakout..........

 

'G-7 Bullhorns are out.

 

This is why the dollar is rallying. Euroland and Japan are a "disaster", U.S. Consumer remains "resilient"....."

 

Hey, I'm just watching WTZ rise.... what else is there to do...

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XAU hits demand line and bounces... new high needed..

 

Charmin:

 

Great chart. But the bounce counts as a 4th wave, possibly in a third wave of C.

 

I think there's a good possibility that it's going to hit that demand line one more time before the correction is over.

 

Here's the real short term.

 

Action today should help to resolve matters.

post-1352-1115618049_thumb.png

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While I think that the Miners have more downside, I'm starting to look for long entries.

 

SMSC has a number of picks at the public chart lists on Stockcharts.com. He says buy the stocks that have mo-mo going for them already.

 

I've been whippsawed repeatedly by CBJ.TO. I thought that the accumulation/distribution indicator was bullish all through the decline.

 

It was, of course, until everyone exited on the last downdraft. So much for volume indicators.

 

It's major wave 5 time up, shortly.

 

That means that every dog will have it's day. In my opinion, the dogs will run, as all the garbage is fair game in wave 5.

 

That brings me back to CBJ.

 

A 61.8% correction targets 2.11. Where C=A the target is 2.02.

 

In a C wave, trend should not show any positive divergence. After all, third waves are the most powerful.

 

The stochastic's buy signal on a weekly chart is interesting.

 

Translation from Canuck to American. Buy between 2.02 and 2.11 CDN, and 1.43 and 1.58 USD.

post-1352-1115622285_thumb.png

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Yes, on the XAU I forgot to plot the ABC down target....

 

it must be about here anyway....

 

with DX up over the weekend might be expecting a revist of highs in the 86 area and silver retesting lower.... looks like a retest of creek in the 7 area this morning...

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Wondering if anyone saw Jeffrey Saut and some other guy interviewed on Crapvision Friday by Maria. I only caught a glimpse.

The subject of the jobs number came up and Maria was gushing about the 274K jobs being created.

Jeffrey Saut said something to the effect "the thing about the jobs number that I don't hear on your show or any place else is that 250K of the 274K were due to a new way the government counts jobs" or something to that effect or "the government is now adding ----- to the jobs number".

 

Anyway, the camera flashed back to Maria who had looked over her shoulder like WTF? Then looked back in the camera and completely ignored the remark and went into another question.

Within a 10 seconds they lost contact with both guests. After a short commercial break they were able to get the other guy back on satellite but not Saut.

 

Was I seeing things? Did anyone else watch this?

 

Why wasn't the market rallying hard on those jobs numbers Friday and today?

 

Charm - you're right. Silver is going to lead.

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