More target talk on NEM.......................
From: Mike Drakulich
Date Posted: January 30, 2001 at 13:44:26
Subject: Re: Stock market with some great potential
Reference: Re: Stock market with some great potential
First, lets all agree that Ewave is ALWAYS very "interpretative" and one simply tries to come up with their "best" wave count, and use underlying supporting evidence. It's my view that the Oct. bottom in the XAU was WAVE 5, not Wave 3. I do acknowledge your count, but think it is difinitely the lower probability scenario based upon supporting evidence like Bullish Wave patterns in PDG and NEM, recent COTs, and current technicals. And also that gold has likely made a final, deep, secondary corrective bottom while gold stocks held miles above the previous low on this last gold decline, therefore they are now "leading" as they should, and SILVER is now leading as well, as it should in a big rally phase. Nothing is for certain, I just see all the ducks lined up and quacking.
I'm looking for gold to rally ABOVE the $339 peak made in the Fall of 1999, and the XAU to rally back to the 90-95 level. I have minimal NEM targets to 28 and PDG to 16-17, is that clear enough? You can stop NEM at 14 3/8 and PDG at 7.85.
Looks like the stock market is NOT the only market with some great potential here.
>>Mike Drakulich
Mike has been analyzing and forecasting the markets for the past 13 years via a telephone Hotline and in recent years the Wave Signals newsletter, sent via email. It is a market timing and trading oriented service, that covers the Stock-Bond-Currency-Metals markets, and also has a Rydex based Mutual Fund timing service. If you'd like a free trial, simple email Mike at: wave@pacifier.com |
