19 replies to this topic

[A-ha]

today Feb 23, 2008: calling an important intermediate term top .. i believe gold topped out at 957 on Thursday Feb 21, 2008. I expect minimum 15% correction from this point. gold closed at 944.7 on friday 22, 2008

Edited by A-ha, 23 February 2008 - 04:53 PM.

[Rogerdodger]

If T. Boone Pickens is correct about oil dropping $10-$15 until the second half of the year,
gold could follow a similar correction.

[denleo]

I am getting bearish on Gold too (I expect a correction intermediate-term). I am thinking of shorting it. I am already short XLE. Your thoughts on oil stocks for the next few weeks? Denleo

[A-ha]

I am getting bearish on Gold too (I expect a correction intermediate-term). I am thinking of shorting it. I am already short XLE. Your thoughts on oil stocks for the next few weeks?

Denleo

I think XLE and OIH will be under pressure relative to the S&P500 due to the impending correction in energy... crude and gas....
however they should drift higher along with S&P500, with a visible weakness... They will be great short once the market rally is over

[denleo]

Good points. You still think Spooz go to 1480 or so? Denleo

[A-ha]

Good points. You still think Spooz go to 1480 or so?

Denleo

target is subject to change but definitely above 1420...

[atlasshrugged]

Good points. You still think Spooz go to 1480 or so?

Denleo

target is subject to change but definitely above 1420...

Flux,

I am in the same camp with you for spoos to 1420....what do you think the nq's will do if the spoos go to 1420 or therabouts?

ty

[A-ha]

I think NDX may underperform SP too... there are tons of recession sensitive stocks that are heavily weighted in NDX... I think Dow and SP are the ones to play long here...

[Kimston]

today Feb 23, 2008:

calling an important intermediate term top .. i believe gold topped out at 957 on Thursday Feb 21, 2008. I expect minimum 15% correction from this point.

gold closed at 944.7 on friday 22, 2008

Is this a Flux thing or would you mind sharing a bit of what your forecast is based on? I'm curious what you're looking at because I have been accumulating short positions in the metals and some miners the last couple weeks based on a confluence of price and time squares lining up, not to mention that sentiment seems to be about the mirror opposite of the 2001 bottom. An example of a price projection lining up is AEM, one of last miners making new highs (like that soldier from WWII that didn't get the memo, still at war on a remote island somewhere in the South Pacific). AEM on the log-scale chart below has symmetry in the percentage gain of the two major up waves and also appears to be completing a terminal 5th wave diagonal pattern (E-wave). I have timing for top in crude on or around 2/26/08 and would like to see the petroleum complex and metals come down together after that date. I wouldn't be thrilled about holding shorts if continues rallying above 950/960 area after next week. I have a lot more analysis that is even more compelling on gold and HUI charts. You show me yours and I'll show some more of mine.

TIA

Kimston

[A-ha]

mine is based on a device called "flux capacitor"... which is similar to that used in DeLorean time machine... other than that i sometime have visions and delusions... but none of them can beat flux... flux rules always. however it is important to keep the rosco nicely oiled up otherwise it may give fuzzy predictions...

Edited by A-ha, 23 February 2008 - 07:57 PM.