John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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From: nspolar	7/29/2008 3:02:40 PM
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The referenced post #msg-24763299 was a clear signal that the motif would soon head down hard for PM's. Right on JP's Market Laboratory. The ED was not in the HUI, but in the $XAU as well as the $DJGSP. A true ED reflects with almost certainty a major change in trend, and the ensuing down move gets with the program. It is a clear signal, when verified. I believe it has been verified. And as written by EWI the down move will almost always retrace the entire move up. What was not written by EWI is the timing .... figure it will happen in ~ 38 % of the length of time of the move up. Again this puts us in that late October time frame for a first possible low possibility. There may be a real op coming up, to make some ST cash. If the gen market holds thru most of Aug, it could taper off coincident with a rebound in pm's and commodities. Then assuming there is a strong smash later, all the chit may go down hard in unison. Watch for signals. AND ... I am following Dug closely. May dump out of all my calls later this week. The energy indices are due a rebound, soon. In that case I would reload double for the next leg down. Have a good day! I am ... my root canal was postponed. TF

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