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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (21627)	7/30/1999 11:59:00 PM
From: Mike Hermann	Read Replies (2) \| Respond to of 99985

Was it Sir Templeton that said something like when pessimism is the highest is the time to get in?

To: pater tenebrarum who wrote (21627)	7/31/1999 12:06:00 AM
From: bobby beara	Read Replies (2) \| Respond to of 99985

Heinz, i have an xau chart that shows a spring (in the terms of Wyckoff) as we just saw on the nasdaq chart in mid july. Most have to be trapped in the wrong direction at major turns, on the xau, i believe that wave one was up into the october highs, then a major base building ABC decline into the recent lows, with B being the top the was manipulated down fumes of the last Central Banker leaving the gold market, but was bought hook line and stinker by the investing public and enough gold bulls threw in the towel to set-up a bottom. just as the inverse was done on soft at the top. We have a small rounding bottom in gold, if i'm right we should see a $5-10 one day move in gold in the next week and the mega gold shorts will start covering and send this sucker up big.