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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: wildandwonderful who wrote (16447)	9/9/2002 8:47:38 PM
From: RWS	Read Replies (1) \| Respond to of 23153

Re: GG and AEM Today's and yesterday's volume on GG did improve, however the rest of the rise has been on relatively weaker volume than the previous rise and fall. Money flow has been mostly negative and on balance volume has not kept pace. I don't believe you can qualify this as a breakout until the price exceeds the previous high. I would expect the six month rise from Dec to June to be corrected by a four to six month fall. Therefore I am looking for an ewave pattern of down, up, down, (an ABC correction within the bull move) with the last downwave the largest. The internal pattern of the first down wave from June to July breaks down into 3 subwaves - okay. Now the pattern of the upwave from July to Sept. also breaks down into 3 subwaves - okay. The consolidation from Aug. 2-23 is exactly midway between the July 26 low and todays high giving me a target to short. I don't expect the price to close much over today's high. Admittedly it would be safer to short a lower high after the third wave down begins. If today's high is exceeded on the close with volume, then my analysis is wrong and I will be stopped out. I won't be stopped out by a gap and crap as I will be setting my stop late tomorrow morning. I'm also looking for the dollar to have another corrective move of its current slide, which should coincide with a market rally, and so undermine gold stocks for a couple or three months. It looks like we will get slow growth without inflation for a while longer. The Bush administration have been forced to recognize that oil and guns are not the only economic interests to be served, so the war fear will ebb and provide an excuse to take gold profits. The only fly in the FA ointment is the ECRI future inflation gauge, which is now rising. I'm betting it won't matter for a month or two. Regards, RWS edit: was stopped out of GG at 11.32 not 11.22