Bobby,
I agree that this is a S-T blowoff top, otherwise known as a "B" wave. Thus, the current price action should be considered as a continuation of the correction that began Nov. 28th, and the ensuing C wave will catch many a euphoric bull unawares.
POP!!
Thanks for the ECO stock. However, I now believe the action in the XAU since 9/1 is corrective in nature, and not the start of a new bull market higher. The move from 48 to 85 looks like a zig zag "A", the move from 85 to 60 a zig-zag "B", and we are now in the C wave up in a flat corrective pattern, so we should look for the completion of a 5 wave move off the 60 low of a couple weeks ago, and dump the XAU, miners, and gold itself, short the heck out of it like LTCM, and use the proceeds to go very long the U.S. equity markets in February.
You game?
Regards,
David |
