Charmin Posted May 31, 2007 Report Share Posted May 31, 2007 I noted that the last decline in SLV from the April highs ground back to March lows, unlike distribution that showed up about every three months with one felled swoop. The thought that comes to mind is it a change of behavior and setup to launch. 127 to 129 area was marked on the charts for obvious support areas. Today it appears we have broken a supply line from the April highs. You will recall the swift declines bottoming: June 2006 Sept. 2006 Dec. 2006 March 2007 June 2007 acts like one. What can one say but, IT IS WHAT IT IS. You all provide very good insight, so I'll leave up to you to carry us home through another month. By the way, the Dow is almost home as it arrives very close to it's 90% PnF potential at 13,680 today. A remaining 10% potential would carry it to 14,400. Link to comment Share on other sites More sharing options...
Private Skidmark Posted May 31, 2007 Report Share Posted May 31, 2007 HUI Ignite the rockets: Link to comment Share on other sites More sharing options...
Private Skidmark Posted May 31, 2007 Report Share Posted May 31, 2007 XAU Ditto. Just needs to break on through. Link to comment Share on other sites More sharing options...
Private Skidmark Posted May 31, 2007 Report Share Posted May 31, 2007 GG Making a run for it. Here's hoping it makes it over the fence before the guards in the tower shoot it down. Link to comment Share on other sites More sharing options...
Private Skidmark Posted May 31, 2007 Report Share Posted May 31, 2007 SSRI So incredibly strong that it's corrected sideways while others have plumetted. Link to comment Share on other sites More sharing options...
Private Skidmark Posted May 31, 2007 Report Share Posted May 31, 2007 PAAS Already over the fence and trying to outrun the dogs. Link to comment Share on other sites More sharing options...
Private Skidmark Posted May 31, 2007 Report Share Posted May 31, 2007 NEM Almost. Link to comment Share on other sites More sharing options...
The CoinGuy Posted May 31, 2007 Report Share Posted May 31, 2007 Goobs, To answer your question I had to revise my "W" chart from the previous thread a tad... $HUI - "W" Pattern(Revised) Chart Gotta catch a ride, see y'all in a few days. The CoinGuy Link to comment Share on other sites More sharing options...
Charmin Posted May 31, 2007 Author Report Share Posted May 31, 2007 Speaking of W's 29 day stochastic W for the HUI is something to watch as it matches price http://www.StockSharePublishing.com/ChartL..._1180652810.png Link to comment Share on other sites More sharing options...
Charmin Posted June 1, 2007 Author Report Share Posted June 1, 2007 The lack of a shakeout to some support so far is a change of behavior in this market. If silver bears are done now, I'm gunna suspect the bulls will take control again, even if we consolidate further. SLV http://www.StockSharePublishing.com/ChartL..._1180667707.png Link to comment Share on other sites More sharing options...
bearvest Posted June 1, 2007 Report Share Posted June 1, 2007 XAU: I'd posted that I saw support at around 132.50---and expected a decline to that range within the ending diagonal. Elliotticians invariably miss bottoms and tops waiting for that last wave. It's hard to deny the technical signposts of Thursday's rally. It has never been a good idea in XAU's rallies to wait for an opportune decline to enter, or in declines, to wait for a bounce to cover. The race goes to the swift. Link to comment Share on other sites More sharing options...
bearvest Posted June 1, 2007 Report Share Posted June 1, 2007 XAU: While the Labelling may be forced, it's fairly clear that this last decline has a very different proflile from the former declines. From long and slim to short and fat. Gee! That's kinda like my profile over last 30 years or so. Link to comment Share on other sites More sharing options...
bearvest Posted June 1, 2007 Report Share Posted June 1, 2007 XAU: It is a long-held axiom that when the index leads the commodity, that's bullish. The reason? The index is leveraged to the commodity. Thus the smart money switches from the physical to the leveraged play where gains will be greater. XAU seems to on the cusp. The trend off the summer lows of 2006 weakened creating a long period of bullish divergence. The ratio bottomed in March, and and is on the verge of a breakout north together with a MACD reversal into positive territory. Link to comment Share on other sites More sharing options...
Charmin Posted June 1, 2007 Author Report Share Posted June 1, 2007 My SLV chart has May 17 for a potential swing low labeled. Link to comment Share on other sites More sharing options...
Ageka Posted June 1, 2007 Report Share Posted June 1, 2007 After several months of having a limit order for Harmony at 10.50 euro I just caved in and bought at 11.10 Euro Who knows that the final low in july- august is going to be lower then the price today Link to comment Share on other sites More sharing options...
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