5 replies to this topic

[elliotboy]

My view has been that many of the SAs seems to trace out normal zigzag formations since late 2000, with the biggest C wave still to come. After that I expect a lenghty correction that should last for 1-2 years minimally before the next bull phase start that should trace out a 5 wave impulse pattern.

Below is my current EWA interpretation of DROOY. DROOY has lately been a victim of a strong Rand price that resulted in a vicious sell of. Everyone seems to hate Drooy as of late which in my book is a very good contrarian indicator. I believe Drooy will be one of the best comeback candidates during the next bull phase that shold start no later than September-October (if it has not already started).

The large H&S pattern is still valid on the Drooy chart. Notice also that the current correction if it extend in to early next week is a fibonacci 1,5 ratio of wave (A).




Finally I will put out a big chart on Drooy. I let the picture speak for it self.



This is my humble interpretation of what to expect from Drooy and I will not take any blame if the analysis should backfire.

[SilentOne]

Hi EB,

Nice analysis and charts. I agree with the projected 3rd wave coming. The only question in my mind is whether you get your "C" wave down. I would suggest that DROOY is still in its first full wave up from its lows and about to enter its 3rd wave of what should be 5 up. I am very long DROOY BTW having repurchased on the August dump.

Here is a wave count posted by Roffey which I think looks good. The spike to fill the gap was the last wave (wave 5-5 of C wave down) in the correction in my book. So from here DROOY either retraces in a "B" wave (ie wave 2 correction is not finished) or wave 3-1 has started which should retest the high. Given the length of time DROOY has corrected, I think wave 3-1 has started. When DROOY breaks above its previous high, wave 3-3 will clearly be in force.

Here is Clive Roffey's EW count and musings Dr. Clive Roffey

cheers,

john

[bobalou]

THIS IS GOOD ,WORK.MY BS I'M LOOKING TO GO LONG W/ RETEST. I find this one comes on later.so you could jump on this one,if your late to party.S.A. $$ has to start moving , one + is they rased there rates1/2%, in time, should do more.that's why asa got a up move .is also in asa. A note gold could be flat, and the S.A. gold stocks can move w/ there $$ in play.this is big in there PE's

[mss]

bobalou, Do you like my ASA charts ? mss

[bobalou]

MSS love is the word; you do good work.... I'm long hmy .gfi,gg,rangy=asa.I see high on 9/1/04 or9/2 $422 gold , and take a little off.on 9/2.on a pop..for about 2weeks.. does that work w/ your work the w/pt's you use.I'm thinking we should be there, then 9/2..IT asa 42.50,hmy 15,gg14.50,gfi 13.50. the rand $$ is killing us.need a brake.

[mss]

the rand $$ is killing us.need a brake.

<{POST_SNAPBACK}>

Agree with your time frame, altho, I mostly use price (bop) cycle. Rand -- help-- us
best to you, mss