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Strategies & Market Trends : Group Theories
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To: macavity who wrote (711)10/4/2003 4:12:13 AM
From: macavity  Read Replies (2) of 1017
 
IT Outlook: Precious Metals Complex.

IT: BEAR !

Well we woz right on being bearish the stocks last week.
Our levels on the metals were quite pertinent as well.
I just do not have the guts to short the stuff, as secretly I am a gold-bug at heart. There was a good ST rally during the week.
The catch is that the 'end-of-the-monetary-system' will take its good time coming.
But with these moves and the fact that there are some prime underperformers in the sector maybe it is not an impossibility in the future.

PM Complex.

	MO	PVT	PVTHIGH	PVTLOW
$XAU	BEAR	BEAR	93.23  	87.8
$HUI	BEAR	BEAR	199.94 	186.48
$AU	BEAR	BEAR	388.8  	367.1
$AG	BEAR	BEAR	5.2    	4.82


BEARISH while Indices are below IT_PVTHIGH

LT PivotCharts for all 4 indices turned down on Friday. LT Momentum has not confirmed but it does indicate that we may be seeing some significant weakness.
Gee, maybe Prechter is right and we never get to see above $AU=400/10 for a while, yet!

stockcharts.com[w,a]waclynay[pc55][iLe8,21,13!Lp8,3,3]&pref=G

POG is not looking invincible, so maybe we pull back to the 55 Wk EMA region. No complaints here.

-macavity
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