traderfromhell Posted June 28, 2005 Report Share Posted June 28, 2005 Just been over to the GE forum. They are discussing watermelons and other precious fruits and vegetables. There, horseshit is a resource. <{POST_SNAPBACK}> The Gold Bull capital of the once free world. Link to comment Share on other sites More sharing options...
Guest Posted June 28, 2005 Report Share Posted June 28, 2005 all things considered, not a bad day for xau. like to see the indexes stronger than the metals . dharma Link to comment Share on other sites More sharing options...
Ander Posted June 28, 2005 Report Share Posted June 28, 2005 Well, 2 points down on the HUI aint bad at all considering the metals today. Held up well and recovered into the close. I think May 16 was the bottom and this is a light pullback. could have a few more points down to go, but then we start higher again. I think the relative strength today is evidence of that. Link to comment Share on other sites More sharing options...
Old Habits Posted June 28, 2005 Report Share Posted June 28, 2005 Well, 2 points down on the HUI aint bad at all considering the metals today. Held up well and recovered into the close. I think May 16 was the bottom and this is a light pullback. could have a few more points down to go, but then we start higher again. I think the relative strength today is evidence of that. <{POST_SNAPBACK}> Agree. Still cautiously optimistic. Volume was light and there was every opportunity for the miners to be sold hard. A month ago a day like we had in the metals would have been a disaster for the stocks. Went back on margin today for a trade - will sell strength in the a.m. if there is any. HL 4K @ 4.38 CDE 2K @ 3.38 SSRI 2K @ 11.50 (that one made me nervous earlier) When the POG turns back up I will put it all in GG KRY sold off on double the normal volume - don't like the smell, may ease up yet again and move more toward GRS. Link to comment Share on other sites More sharing options...
ThorAss Posted June 28, 2005 Report Share Posted June 28, 2005 I, on the other hand, am not quite so sanguine, and will now asellerate my pms share disposal. Especially if we have a negative close tomorrow. I, of course, reserve the right to change my mind at any time. But for now I've run out of reasons to be overly optimistic. A good day tomorrow is a must. Link to comment Share on other sites More sharing options...
plantigrade Posted June 29, 2005 Report Share Posted June 29, 2005 hui Link to comment Share on other sites More sharing options...
traderfromhell Posted June 29, 2005 Report Share Posted June 29, 2005 Today's close under 195 HUI turns the situation decidedly bearish. This was initial resistance which became support. Now broken. It will take a move to new highs which holds to turn me bullish. Looking to buy considerably lower. Today was the confirmation of the non confirmation of Silver refusing to move with Gold. Link to comment Share on other sites More sharing options...
bearvest Posted June 29, 2005 Report Share Posted June 29, 2005 XAU: Overlap of 89.84will leave corrective 3 wave patterns at two separate degrees of trend. Link to comment Share on other sites More sharing options...
bearvest Posted June 29, 2005 Report Share Posted June 29, 2005 Today's close under 195 HUI turns the situation decidedly bearish. This was initial resistance which became support. Now broken. It will take a move to new highs which holds to turn me bullish. Looking to buy considerably lower. <{POST_SNAPBACK}> T.F.H. Yep. Link to comment Share on other sites More sharing options...
ThorAss Posted June 29, 2005 Report Share Posted June 29, 2005 Dear BearVest and any others who have been lost to the dark side of TA namely Elliot Waves, I have tried applying Elliot Waves to $GOLD here. I would be much obliged if you would comment. I hope to do the rest of the charts in that group but first I'd like some feedback. I think we are in 3 of 1 of 5 and that 3 will not be complete until we break to new highs. This scenario will only be negated by a break of the May/June low approx 412. I tried some alternative counts but they all failed as a result of a combination of the May/June low staying above the Feb low and the June high bettering the April high. This is a pretty bullish count. And if you are LT Superbull you could see all of this as only being part of Wave 1 as in 3 of 1 of 5 of 1! Where we are at now looks just like the month end Feb05. If so then we turn around today or tomorrow best 447 then try for a new high. If we fail there we get a flat correction but either way will be followed by a launch to new highs. This would then complete Wave 1 of 5 which I would expect in Nov/Dec of this year. It might take another couple of years to complete Big Wave 5 (of 1) and that would probably be a jolly good place to sell for LT traders. LT Wreck: Hold Gold above June low until pattern completes (estimate Nov/Dec 2007) or count changes. TA PS: Yes, but what are the shares telling us. Link to comment Share on other sites More sharing options...
ThorAss Posted June 29, 2005 Report Share Posted June 29, 2005 I just had a quick look at the HUI and it seems to dovetail nicely with the count for gold. The Dec '03 high completed Super Wave 1 of the Big 5 Waves up from the start of the Bull which corresponds to the Mar/Apr '04 high for bullion. We then had an abcde correction to the May '04 low (Super Wave 2 for bullion). The move to the Nov/Dec '04 high was a new Big Wave 1 (Super Wave 3 for bullion). Big Wave 2 completed in May and we are now in maybe 1 of 3 of 3 (compared to Bullion's 3 of 1 of 5.) I don't believe this is an incongruity because gold mines are not gold. Only gold is gold. Whereas obviously they should track each other there will be divergences. Link to comment Share on other sites More sharing options...
bearvest Posted June 29, 2005 Report Share Posted June 29, 2005 Dear BearVest and any others who have been lost to the dark side of TA namely Elliot Waves, I have tried applying Elliot Waves to $GOLD here. PS: Yes, but what are the shares telling us. <{POST_SNAPBACK}> If you can cut and paste that link, I'll get back to you Wednesday night. As I posted last week, Gold and the indices are out of sync. Once I see the chart, I'll comment. Edit: I have 2 significant challenges to the count. First, red wave 3 is way out of proportion to 1. Three should show real wood, On his count, there's significant E.D.S.---from a technician's standpint. Second, he labels red 4 as a corrective abcde triangle pattern. It is an impulse down. There's nothing corrective about it. With respect, an impulse will beget another impulse. We are not heading up in a powerful 3rd wave. Rather, we are heading down in a c-wave in the intermediate term. Finally, although it's not material to the current count. there's an egregious error. In 2002. your Elliottician has blue wave 4 overlapping 1. With respect, an error in a rule so fundamental to Elliott casts doubt on the entire count. 2nd Edit: Here's my short term count. It assumes that the last wave of blue C will be an impulse. If it's only a corrective 3 wave move, we've topped. Link to comment Share on other sites More sharing options...
ThorAss Posted June 29, 2005 Report Share Posted June 29, 2005 Dear BearVest and any others who have been lost to the dark side of TA namely Elliot Waves, I have tried applying Elliot Waves to $GOLD here. PS: Yes, but what are the shares telling us. <{POST_SNAPBACK}> If you can cut and paste that link, I'll get back to you Wednesday night. As I posted last week, Gold and the indices are out of sync. Once I see the chart, I'll comment. <{POST_SNAPBACK}> Not sure I understand you about cut and paste. Try the link again. I fixed it a few minutes ago. Should lead you straight to my Public Chart list with gold the 1st cab off the rank. Okay? Link to comment Share on other sites More sharing options...
ThorAss Posted June 29, 2005 Report Share Posted June 29, 2005 SKI hits the slopes. Link to comment Share on other sites More sharing options...
traderfromhell Posted June 29, 2005 Report Share Posted June 29, 2005 SKI hits the slopes. <{POST_SNAPBACK}> I've disagreed with him in the past but his system has some merit. I would not discount this sell signal. He has shown the ability to flip if wrong in time to make money. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.