Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: Wade who wrote (31060)	9/26/2011 11:01:55 PM
From: Wade	Read Replies (3) of 48092

<It looks like we can rule out the X-WAVE correction based on the rally of POG/POS and breakout from $64.> That was a pre-mature call and a mistake for not following through the wave counts. The first part of the 6-month correction was from early Dec of 2010 to the mid-June of 2011. Then, the X-wave was from Mid-June to early September. It seems the correct count is that GDX began a new abc type sideways consolidation from ~$65, after the X-wave correction. Therefore, the 2nd of the correction could be 6-months as well, which would be in around March and April 2012. But, the steep drop and sharp reversal could shorten the time frame significantly. We shall see. What a mess we are in any way...

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