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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: At_The_Ask who wrote (65238)	2/4/2003 2:42:36 AM
From: nspolar	Read Replies (3) \| Respond to of 209892

ATH, no that is not my fav. My fav is the HUI is finishing up a 2 for this leg, and I have this move starting end of Nov, not Oct. There were/are several recent things that made me stay put re PM's. In every stock I own key support areas have held, and the patterns were corrective. At present it appears sellers are basically disappearing. The indice count I have for this correction is basically the same wave wise as for the large correction over the summer months, and is near the end. Something has to happen here. POG over the last few days basically rose with the dollar. In this environment this is usually bullish, and presages another up leg for POG. Why? Because the dollar will correct back down, and continue its downtrend. POG will then keep heading up, normally, until the trend is broken. I think POG breaks 400 this leg, with ease. Re my count I'm not wedded to it. I think you need to do other TA, and especially watch the channeling action, and the LT charts. The channels are really important. Re counting it is very hard to ascertain the degree of a wave in the indices, and as for being in a 2 or a 4 of this leg up I don't care that much just now, we'll find out soon enough. I do care a little later down the road. I found Prechter's comments on gold and PM's very interesting, in the interview. I'm an ardent deflationist, and I can understand why Prechter is making the comments he does. However I think every major event is different from the last, and the current situation is very different than the 30's. The 30's was a correction. The present situation imo could turn into a wipe-out of paper money, especially the dollar. In that scenario gold will utterly explode. To be safe Prechter in large bases his comments and views on previous history. We have history in the making. I'm not concerned about my strategy, as so far over the last 1.5 yrs it has made me lots of money. I'm getting concerned about the security of my accounts, and during the next correction will probably buy a lot of physical, assuming things remain on course. I have some guns, to protect my physical, and will buy more of those as well. From what I have been reading I suspect gold is getting more and more risky here. Speculative fervor at work. Unfortunately this is where the big dollars are made (or lost).