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: Bert who wrote (28835)	2/28/2003 2:11:16 AM
From: crustyoldprospector	Read Replies (2) \| Respond to of 36161

Charts showing we are near a big rally in general markets in terms of time, but also a fair chance of a brutal wash-out in terms of price during the next few weeks: Note ADX and MACD on Bullish Percent for S&P500, which could turn here (higher lows) or complete a run to overly bearish levels below 20: stockcharts.com[h,a]daclyyay[df][pb50!b200!c20!f][vc60][ill14!la12,26,9][J6581246,Y]&pref=G The NASDAQ Summation Index could turn here or complete a 5th wave down: stockcharts.com[w,a]daclyyay[de][pc20][vc60]%3Ci%3E DJTI looking ahead to a rally based on positive divergence (thanks George Cole and augieboo), but from what bottom?: investorshub.com All that said, I'm inclined to agree with Zeev, who says we wash-out before a violent rally. Here's what tips the balance: stockcharts.com[l,a]daolyymy[df][pc13!c50!b200][vc60][ilb14!la12,26,9!lh14,3!lm12!ld20!le12,26,9 I do not see the 3rd wave down in the dollar as being complete, with the downchannel in MACD intact and slow sto's showing it hasn't bottomed quite yet. I see the $ as having just completed a iv in a move toward C (around 95). Dollar move down correlates with foreign capital leaving the market IMO. This should happen within a month, and there will be a big move in gold in concert. Sticking with short positions a few more days, and holding portfolio of Canadian juniors steady until the dollar wash-out completes. By the way, my junior portfolio is off only 4.5% from the high, another telegraph to me that gold has another bump coming.