10 replies to this topic

[SevenOfEleven]

This person's talking about POG low Oct 30th. Earlier than my own mid'ish Nov projection (see my sig)

http://www.icape.com...-gold/gold.html

[ty250]

If 42.50 were taken out would that negate the bearish gartley?

[uncleharley]

COMEX gold just topped $380.00 per ounce. Does anyone know the reason why?????

[scottc]

yep, because there was more buyers than sellers

[geosing]

COMEX gold just topped $380.00 per ounce. Does anyone know the reason why?????

Here is an excuse.

http://biz.yahoo.com...ets_gold_1.html

[blustar]

I believe this is a false or "b" wave rally in an abc C wave decline and we still are going down to $328 by late November. I believe juniors like BGO, DROOY, an HL will be the place to be at that point. blustar

[geosing]

we still are going down to $328 by late November.

What market action would invalidate your projections?

[blustar]

I see nothing yet that invalidates my arguement that gold is going down. All technicals, sentiment, e-wave and cycle work says it will. Silver is the other clue that gold is going down. Look at the chart of Apex Silver (SIL). If gold fails to go down to about $365 by next Friday or so, I'll look at it again. It looks like a double top reversal in the works to me. Another rally into Nov 12 wouldn't surprise me after next week's expected weakness, but I believe it will be a sucker's play even if we get to $400 the ounce. To answer your question, obviously we would have to break through $400 decisively. I don't see that as being in the cards right now. Next year $475 and even $510 look like plausible targets, so I am bullish, just not yet. Give me a shakeout first and I'll get really bullish! blustar

[ebt111]

just looking around and saw your post. I did that page....I posted it at BearForum or something I think 10/30 is a time target of some sort...and now am figuring its a ST high. Max, downside around 358 +/-. Probably unimportant in the larger picture. To the other poster: the recent high in NEM does IMO negate the Bearish Gartley. Ultimately Im thinking in terms of the Dow/Gold ratio = 5-6...or gold reaching around $2000 or so. So Im not selling anythig or trading this much at all.

[SevenOfEleven]

just looking around and saw your post.

I did that page....I posted it at BearForum or something

I think 10/30 is a time target of some sort...and now am figuring its a ST high. Max, downside around 358 +/-. Probably unimportant in the larger picture.

To the other poster: the recent high in NEM does IMO negate the Bearish Gartley.

Ultimately Im thinking in terms of the Dow/Gold ratio = 5-6...or gold reaching around $2000 or so. So Im not selling anythig or trading this much at all.

Hi there - thanks for popping in. I wasn't sure who to credit.

What's your timeframe for the ratio you mention? Also, do you have a general link to your work or was that page a one time affair?

Thanks! -Seven