as i have stated here, i was looking for the low of this correction on the 17-22. but w/todays action, on the wave count that i was using this move indicates that the bottom is behind us. there are hourly divergences on the xau/hui (using 9bar wilder rsi=which is what i use) . bearishness also seems to have gotten rather extreme 115xau is bandied about. just my 2c dharma
sure looks like we bottomed on xau/hui
Started by
dharma
, Jan 12 2007 12:58 PM
23 replies to this topic
#2
Chilidawgz
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A fool and his money... (the second mousie gets the cheese)
Posted 12 January 2007 - 01:02 PM
Anything can happen...what's happening now?
No one can forecast the future. No one.
All stocks (ETF's) are BAD...unless they go up - William O'Neil
When The Time Comes To Buy or Sell, You Won't Want To - Walter Deemer
#3
Jnavin
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Posted 12 January 2007 - 02:41 PM
Took an SLV position this morning...not too much...
#4
bearish04
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Posted 12 January 2007 - 03:10 PM
Yes possibly bottomed on HUI. My ewave count says there was a large 4th wave triangle (having 5 legs ABCDE) possibly over today (with E) on HUI. Gold also is in a triangle, i think maybe some more fishing before it gets out. My target for the 5th wave probably this year is near abouts 780-800.
Edited by bearish04, 12 January 2007 - 03:11 PM.
#5
dharma
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Posted 12 January 2007 - 03:11 PM
nice going chili, i see you bought yesterday! congrats! dharma
#6
SilentOne
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Posted 12 January 2007 - 04:04 PM
Yup,
I am starting to think I missed the bottom of this decline. Very unlike me if that is the case. Things will be volatile next week. But that doesn't change the coming rally IMO.
Have a good weekend.
cheers,
john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#7
Sentient Being
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Posted 14 January 2007 - 11:59 AM
I know there seems to be a general "feeling" that the bottom may be in and it's time to load up. I even took a swing at it and got stopped out.
But the more I look at it, the more I think this could well surprise and dig deeper lows.
But I'm seeing some evidence that commodities in gengeral may move up and I'm going to do some more work on that.
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
#8
SilentOne
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Posted 14 January 2007 - 03:40 PM
Sentient Being,
I am willing to be patient. We should get another kick at the cat next week. I'm thinking of playing gold/silver predominantly over shares in the next rally. Guess why? From this month's lows look for a mid-March top.
cheers,
john
I am willing to be patient. We should get another kick at the cat next week. I'm thinking of playing gold/silver predominantly over shares in the next rally. Guess why? From this month's lows look for a mid-March top.
cheers,
john
I know there seems to be a general "feeling" that the bottom may be in and it's time to load up. I even took a swing at it and got stopped out.
But the more I look at it, the more I think this could well surprise and dig deeper lows.
But I'm seeing some evidence that commodities in gengeral may move up and I'm going to do some more work on that.
Edited by SilentOne, 14 January 2007 - 03:43 PM.
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#9
dharma
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Posted 17 January 2007 - 12:13 PM
today starts my window. i am looking for a pullback, not lower lows. it sure is acting like the bottom is in. 136 xau and 635 gold should be resistance. dharma
#10
dougie
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Posted 17 January 2007 - 12:50 PM
well this hardly is acting like a 3 of anything Dharma so where does that leave your count? sure seems corrective up to me still with moen more trip down, but i am officailly agnostic
