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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (95355)	4/28/2004 12:49:52 PM
From: Berney	Read Replies (2) of 209892

Shack, Appreciate all that I've learned from the folks on this thread. I was looking at the monthly chart of XAU last night. Five really nice waves off the bottom. Appears 1 went for 25 points, 3 went for 40 points and 5 for 59 points. So, 1 was .625 of 3 and 5 was a strong 2x wave 1. From my view, I have the 50 mo ema at ~77, a .625 retracement of wave 5 would be 76.50, and the monthly uptrend line in the mid 70's (depending on how fat you draw the line - gg). It would seem that all is not lost in gold bug land, but it was interesting to see the sector get crushed on NEM's earnings miss. Didn't know these stocks were valued based on FA. :o) FWIW and all that, and just MHO from the swamp. Berney

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