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Strategies & Market Trends : Ride the Tiger with CD

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To: Claude Cormier who wrote (16606)	10/20/2004 7:12:37 PM
From: Canuck Dave	Read Replies (2) of 312482

Claude, got a question and comment for you. You know I don't put a lot of faith in Elliot waves and the whole Prechterian prediction of a collapse in the gold price before finally moving higher. In particular, by dividing all price movements into multiple waves, you can pretty much convince yourself of anything (my opinion). The question is: If gold moves decisively above say $450, what would be your opinion of Elliot waves? As proof, I offer exhibit A, a plot of gold in Euros the past 3 years. stockcharts.com[m,a]waclyyay[df][pb50!b200][vc60][iUb14!La12,26,9]&pref=G I feel it is pretty evident the Euro wizards claim of "growth and stability" has been pretty much verified, at least in terms of stability of the price of gold. The movement in gold is all about the US dollar (so far). You see any waves in the Euro price of gold? I don't. Anybody else have comments? CD

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