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Monthly Digger - October 2006


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ok, this is the last low i have been calling for. still think 542 holds. i am looking at the 5th or the 11 as possible dates for a low. from here the spigots of monetary printing will resume.  dharma

 

 

You might be right but this is beginning to look a hell of a lot like 2004 to me. Open ABC down is still open in Gold at 490 and there is a cluster of support 510-520. Worst case appears to be 460. Miners look terrible. Downside breakaway gaps to the downside on extreme volume. Silver looks vulnerable to 7.50-8.50.

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tfh, yes what you state is what most are looking for. divergences are set up on hourly charts. on daily charts @ this point divergences are set up on many issues and xau/hui/gold.

since january this set up in the indexes and gold looks like a high level consolidation. and until something changes that, thats the pattern that i am following. giving the bull the benefit of the doubt. dharma

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tfh, yes what you state is what most are looking for. divergences are set up on hourly charts. on daily charts @ this point divergences are set up on many issues and xau/hui/gold.

since january this set up in the indexes and gold looks like a high level consolidation. and until something changes that, thats the pattern that i am following.  giving the bull the benefit of the doubt.  dharma

 

I don't think what I stated is what most are looking for dharma. Most think we bottom 250-260 HUI. I think there is a good chance we go quite a bit lower. While I think your 540is Gold target is a bit optimistic I will be buying physical there and maybe a bit higher say 550.

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Charmin:

 

Can you give me a hand?

 

Here's HUI's P&F chart.

 

I understand how the vertical target of $204 is arrived at. It's akin to the Elliott formula that C=A.

 

The horizontal count is far less bearish.

 

If I'm right, and this is where I need help, the horizontal count is 272---a far more plausible target.

 

My math says take the width of the chart where the column of 0's begins (3). Multiply arbitrarily by 3. Multiply by the box size (4). The result is 36.

 

Subtract this from the top of the column of X's (308)

 

Is 272 the horizontal target you'd arrive at? It's natural support right on the chart.

post-1352-1159939771_thumb.png

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Hey, when PMPIX drops 10% in one day you know it's ugly

 

one day left for the fire sale.

 

 

One day left? Mohendra pay you a visit or something? Care to nail down a specific time and price target Charmin? :lol:

 

Yup, an angel paid me a visit and whispered in my ear

 

"light at end of tunnel - you must decipher if it coming or going" :lol:

 

The train needs to stop right here anyway on XAU

http://www.StockSharePublishing.com/ChartL..._1159972603.png

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