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Strategies & Market Trends : John Pitera's Market Laboratory
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To: nspolar who wrote (9221)4/3/2008 7:52:49 PM
From: morokko65   of 33421
 
One possible scenario is we have a 5 waver off the top:

the-privateer.com

we'd be in the 4 now. maybe backtesting the $920 area, before the washout to $780

Then uncle Jimmy gets his $1650. mostly long miners, although I took modest profits at $XAU 200 and even rolled into a little SPPIX as a hedge (not enough, as always...) My IT xau target was 225-240 range, so my main profit taking window was missed... live & learn

edit: maybe gold just waffles around and forms an extended triangle, while the uptrend line catches up, similar to 2006 era...
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