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[cafeflorida]

Robert Miner on Larry Pesavento show at TFNN
discussing Gold/XAU analysis via E-Wave.
53 min .mp3 show from today at noon.


http://tfnn.com/archived_shows.php
Trade What You See
TWS020415.mp3 (rt. click/download)

Direct link



XAU
36:50

37:02
Miner:

"Well, it's in a great position for a trade in our report. We recommended a long
trade a couple of days ago."

37:20
"Elliottwave wise, more than likely, January 21st was what we call wave 3 high
and the (Jan) 29th made an A-B-C correction on the right end of the ideal wave
4 price target zone which happened to coincide with that November 21st high.
(must have misspoke -- October 21st?)

So, we have momentum that's almost oversold and the next bullish reversal and
momentum will probably be followed by continued advance to a new high...the low
was actually made on the 29th, so we had time, price and pattern all at the low
of the 29th to probably complete a corrective low. And of course what follows a
correction is a continuation of the higher time frame trend."


38:07
"So, I would recommend what we've had in our trade alert and our stock and
ETF report is being long the XAU and the stop is right below the January 29th
low."

38:34
"And also we already have a target if the market continues higher as anticipated.
We all know about retracements. There's a 0.618 retracement of about 8-9 points
above the market, but what is not shown in this chart is the end of the wave 5 target
and there's like 3 different high probability targets for what we call wave 5 in Elliott Wave
that are all around that 62% retracement."

39:03
"How we look at that is if the market continues higher as anticipated, and reaches
around 88 or a little bit below 88, about 87.5, is we start looking at the momentum and
other time factors to see if we're not at or near at least a daily high and potentially
a weekly high."

39:27
".....a relatively small capital exposure to be long and 3-4 times the initial capital
exposure is our target up there around 88."


The gold chart is discussed.
39:45-42:43

42:09
"....and I believe that we're doing something very similar to that now (advancing off
the 2002 lows) and that we're just in the initial stages of a higher time frame advance
in gold....as long as we haven't declined below the January 2 low, I'd be oriented
toward the long side."

42:39
"...as long as we don't take out the January low, we'll be looking long in gold, silver and
XAU."