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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (1181)9/26/1998 3:40:00 PM
From: dospesos  Read Replies (1) of 81972
 
Bro. Searle:

From an Elliott wave perspective neither the moves in the XAU or GCZ8 from the late August lows are impulse waves, at least from the orthodox viewpoint. Not one of the 3 up thrusts from the low to the 9/11 highs was extended (1.618 times the next longest wave). The pullback from 9/11 was greater than 38.2% for GCZ8 although slightly less for XAU. The run up into yesterday AM (NA time) was 50% of the initial run for GCZ8 and 64% of the same initial leg for XAU. At the top of yesterday's run up, XAU had corrected 2/3 of the drop from April and 60% for GCZ8.

My guess is that we have seen a high for while, and I have taken some profits on stocks I bought lower as well as some losses on some bought higher. Naturally I reserve the right to be wrong.

Aurum vobiscum,

Bro. Thomas
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