Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: t4texas who wrote (13498)	5/29/2002 6:12:40 PM
From: nspolar	Read Replies (1) \| Respond to of 36161

t4, go to XAU. stockcharts.com[m,a]daclyyay[pb50!b200][vc60][iUb12!Li12,3] The 3 up started about end of 1st week in March, at the 50 DMA crossover. This major will normally consist of 5 waves. It does (so far). i - ended right about 1st April. ii - ended about mid April. iii - ended about end of 1st week May. iv - ended about mid May. This should show a down up down from the end of the iii. It clearly does. v - appears to be ending now. Maybe Paul can do us a fancy chart and post it. I don't have the capability. Hey Paul how about it? Can't come over here for free all the time!!! Ha Ha. I don't know Elliot perfectly either, by any means. But so far it appears to me this run should be a clear 5 wave pattern, and I don't expect a flat here as Paul was asking about. If it is the end of the 3rd and it goes as vt and I think, then we have a corrective 4 and a 5th up. You can do fib corrective predictions or whatever you want. I'm looking at how the end of the 1st went and to the market for clues. The 2nd corrected back to the top of the iii of the 1st up. If it does something similar here, it corrects back to about 79. One might also look at the RSI and stoch patterns on the XAU. Appears it is slowly losing some momentum, which supports the above analysis. Hey again, I ain't no expert here, but this one counts pretty easy so far. From here though, whether you believe in Elliot or not, it goes how it goes. All Elliot does is outline possibilities. All one can do is set and implement strategies about that, and if it goes as planned fine. If it doesn't be prepared for plan B. Another thing I think I noticed is extreme sensitivity of the stocks to POG/POS of late, especially POG related issues. They don't want to go higher here, without commensurate POG moves or more than commensurate. On the other hand if they drop much you can bet there will be strong buying. So why expect a large fib retracement? I've tried to Elliot count POG, but it is too difficult for me.