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Strategies & Market Trends : Classic TA Workplace

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To: Perspective who wrote (124618)	9/29/2005 5:40:45 PM
From: skinowski	Read Replies (4) of 209892

To my eye, the recent wiggly consolidation in $HUI was W4 of the fiver which was the september rally. I think that the said fiver is 3 or C since last May -- with the orthodox top of A (or 1) on 7/12. Today the index took out the 2004 top, making - imo - the entire range since the 2003 top into a correction... I think probably a double zigzag. The implication appears to be bullish... with the usual caveats about the formation - maybe - continuing in some wacky range... the usual stuff. But until proven otherwise, it's bullish. I'm one of those silly deflationists Me too. Everyone - including the Fed - is worried about inflation... in the meantime, we may get one heck of a deflationary contraction... if consumers slow down,and markets and real estate prices decline. So much liquidity may go to the money haven that no "printing press" will keep up. Later on they may start with "unconventional" means of "introducing liquidity"..... but such a potentially hyperinflationary direction is an altogether different story. In the meantime, high prices of oil - and gold, etc. are perfect "hooks" to keep our attention on inflation.

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