A Jackass, his PAL(indrome), and GOLD Message Board

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Pastimes : A Jackass, his PAL(indrome), and GOLD

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To: Crimson Ghost who wrote (987)	3/11/2003 11:12:36 PM
From: Jim Willie CB	Read Replies (4) of 1210

Gold Chart 'Primed', by Rick Ackerman Black Box Forecasts: "Six hours ahead of its time" (this guy is a true STITCH) 321gold.com We're not big fans of head-and-shoulders formations, mainly because they are far too popular with armchair technicians and dabblers. But we must admit to being impressed by the textbook clarity and quietly accreting power of a reverse (i.e., bullish) H&S pattern in the London Financial Times gold index. It has been building for nearly five years, with a left shoulder centered at a low made in the summer of 1998, a head created by an even lower low in November 2000, and a right shoulder formed around midyear of 2002. The chart was sent to us by a Florida subscriber, and although we cannot reproduce it herein, it depicts a commodity whose price is ready to explode. There is a kicker, too: The right shoulder describes an Elliott Wave correction pattern called a "five wave flat top triangle." Without going into detail, we will note that this pattern is nearing the end of a fifth-wave selloff. The clear implication is that the price of gold is getting ready to explode. If so, those who have stuck by bullion and mining stocks through these last, difficult six weeks can take heart: Relief is near. ME: these things can take weeks to kick in sometimes months a monster move is in the works I can wait unfortunately, I hate my job and layoffs might come soon I happen to like the heavy duty income / jim

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