4 replies to this topic

[Russ]

http://seekingalpha....-make-gold-soar

Avi Gilburt is looking for gold to form its 5th wave low this summer down to 93 GLD but he has also waffled and says it could go as high as 140 on gld first.

I think there's going to be a strong rally into next fall then the final 5th wave down into mid 2015 but could Avi be right? Martin Armstrong say cyclically the low in early June can produce a good rally into summer.

Edited by Russ, 15 June 2014 - 11:37 AM.

[senorBS]

I really could care less what they say, and I am not saying a final low is in place or not - way too early too tell. The key is if we do our job correctly of analyzing this rally as it unfolds and are not married to any scenario we have the best chance of staying on the right side of the market. The key is to stay FLEXIBLE! I'll get bearish if this rally ultimately looks lousy and does not provide me with any decisive MT to LT bullish evidence. I simply can't stand when someone is married to a time scenario of one more new low or high for that matter - I just tune them out. NO BS Senor

[Russ]

I really could care less what they say, and I am not saying a final low is in place or not - way too early too tell. The key is if we do our job correctly of analyzing this rally as it unfolds and are not married to any scenario we have the best chance of staying on the right side of the market. The key is to stay FLEXIBLE! I'll get bearish if this rally ultimately looks lousy and does not provide me with any decisive MT to LT bullish evidence. I simply can't stand when someone is married to a time scenario of one more new low or high for that matter - I just tune them out.

NO BS

Senor

Apparently Avi has been on a roll for quite awhile so I thought it was worth watching him, but of late I noticed that he has modified his view as the metals have started to turn up here, at first he said gld would not likely get above 124, now he says it could get up to 140 Avi does of course have an axe to grind as he sells his services.

I thought you might find his elliot wave work to be of interest though. I am still long and baring a sharp break I will probably stay long into the fall.

Russ

[senorBS]

I really could care less what they say, and I am not saying a final low is in place or not - way too early too tell. The key is if we do our job correctly of analyzing this rally as it unfolds and are not married to any scenario we have the best chance of staying on the right side of the market. The key is to stay FLEXIBLE! I'll get bearish if this rally ultimately looks lousy and does not provide me with any decisive MT to LT bullish evidence. I simply can't stand when someone is married to a time scenario of one more new low or high for that matter - I just tune them out.

NO BS

Senor

Apparently Avi has been on a roll for quite awhile so I thought it was worth watching him, but of late I noticed that he has modified his view as the metals have started to turn up here, at first he said gld would not likely get above 124, now he says it could get up to 140 Avi does of course have an axe to grind as he sells his services.

I thought you might find his elliot wave work to be of interest though. I am still long and baring a sharp break I will probably stay long into the fall.

Russ

any decent Ewaver would have to acknowledge there are almost always alernate counts and especially so when major corrections are unfolding like they have been from the 2011 long term highs. And corrections can morph into many possibilities, right now we have what is likely at least a medium term (MT) low is place, first big resistance IMO is 1300-1310, get above there and odds increase significantly that we are at least rallying above the March high at 1388, that's all I need and want to be concerned with at this time

NO BS

Senor

[Russ]

Avi talked about how most Ewavers are seeing a triangle formation which they think is bullish but Avi thinks when so many are on board for that view then it is probably wrong. I am not sure what triangle he is talking about, just the bull flag on the weekly perhaps?