bearvest Posted December 4, 2007 Report Share Posted December 4, 2007 Elliott Trendlines: Gold: An impulse up should rise in a channel bounded by lines connecting waves 1 and 3 and 2 and 4. Looks too pat to me. I'm looking for 760. Link to comment Share on other sites More sharing options...
Charmin Posted December 4, 2007 Author Report Share Posted December 4, 2007 Am I catching a wiff of silver excitement from the MFN talk? PAAS SSRI CDE HL MFN CEF SLW Link to comment Share on other sites More sharing options...
Charmin Posted December 4, 2007 Author Report Share Posted December 4, 2007 Here's what I see in MFN. Notable volume at the swing high of 14.11. In that case it will come back to that high at some point. http://www.StockSharePublishing.com/ChartL..._1196740361.png Link to comment Share on other sites More sharing options...
bearvest Posted December 4, 2007 Report Share Posted December 4, 2007 GOLD: Targets for wave 4 (cont'd) link: http://www.elliott-wave-theory.com/elliott3.html#channeling 4. Channeling :: top :: Channeling is an important tool not only to determine which sub waves belong together, but also to project targets for the next wave up. Channels are parallel lines, which more or less contain the complete price movement of a wave. Waves of the same degree can be recognized by drawing channels. Especially this is the case for Impulse (5) wave structures, Zigzags and Triangles. If these waves do not equate properly, you have a strong indication to search for an alternative count. Next you will learn how to draw channels and how to project targets using channels. Targets for wave 4 As soon as wave 3 is finished you can draw a channel by connecting the end of wave 1 and wave 3 with a trend line and drawing a parallel line from the end of wave 2. In this way you can project a target for wave 4. Keep in mind that normally the base line from wave 2 will be broken slightly by the price action of wave 4. The base line serves as a minimum target for wave 4. If wave 4 doesn?t come near the base line at all, this is a sign of a very strong trend. You are probably still in wave 3 or you should get ready for a blow off in wave 5. Link to comment Share on other sites More sharing options...
bearvest Posted December 4, 2007 Report Share Posted December 4, 2007 Seinfeld: What's this about silver? Overlapped. Looks like a nested set of 1/2's. Wave 3 of 3 could be in the offing. But not yet. Link to comment Share on other sites More sharing options...
dharma Posted December 4, 2007 Report Share Posted December 4, 2007 since the initial down wave, the market is making 3 wave moves. i am starting to think it is forming a triangle, in which case the low of 773 may not be violated. if this is the case we could finish this correction late this week. in either case it doesnt really matter to me, as i am an investor in this sector and the next significant move is up. the sentiment has gotten very bearish, to the point where gs has given gold the axe in 08. you gotta love their timing. if it turns out that the zig zag scenerio is the correct analysis than i am looking for 764. by the 11th we should start the next up move. time is running out here. dharma Link to comment Share on other sites More sharing options...
BartTheBear Posted December 4, 2007 Report Share Posted December 4, 2007 I am feeling more bullish with Gold decoupling from crude this week (so far). Link to comment Share on other sites More sharing options...
Ageka Posted December 4, 2007 Report Share Posted December 4, 2007 I now figure 12 decembre may be the bottom with a lot of sideways see sawing since my monthly slow stochs are down Link to comment Share on other sites More sharing options...
Charmin Posted December 4, 2007 Author Report Share Posted December 4, 2007 If one was a bear on gold stocks, then GDX going down to 40 would be sweet to see. It would hit the middle of a long trading range providing support and most likely an area where the shorts would begin to cover. I speak in scenarios, loosing opinions every day. Link to comment Share on other sites More sharing options...
Whadda I Do Whadda I Do Posted December 5, 2007 Report Share Posted December 5, 2007 Spot gold showing good support here it's the only thing keeping the miners from total collapse. Need the regular markets to drop and watch if any money gets parked in gold. That will happen if traders are scared of what's on the horizon. By the way I'm still holding PMPIX. Link to comment Share on other sites More sharing options...
bearvest Posted December 5, 2007 Report Share Posted December 5, 2007 dharma: I doubt that a triangle can form in wave 2. Here's a rather funky analysis for Silver. The impulse waves, are opening and ending diagonals Link to comment Share on other sites More sharing options...
bearvest Posted December 5, 2007 Report Share Posted December 5, 2007 AU: Doc spotted this one in the WSE. He didn't recommend it as a long, but merely noted it. It looks like a good scalp. A small bear flag in a 4th wave position filling a gap. Keep this in mind with HL and MFN. The stocks that are showing maximum strength here will be the darlings once this correction ends. They'll be the leaders. Link to comment Share on other sites More sharing options...
Metamucil Posted December 5, 2007 Report Share Posted December 5, 2007 PnF buy signal. Looking ok. There are still bargains....a CS special That is a portentous volume pattern. Sometimes it really works. Link to comment Share on other sites More sharing options...
Metamucil Posted December 5, 2007 Report Share Posted December 5, 2007 AEM completing a cup-handle? Link to comment Share on other sites More sharing options...
Metamucil Posted December 5, 2007 Report Share Posted December 5, 2007 ....and a HUI sled dog is completing a correction...always have stops: Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.