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To: At_The_Ask who wrote (72218)4/26/2003 3:01:44 PM
From: skinowski  Respond to of 209892
 
Thanks for your thoughtful review. Perhaps I am influenced by having read Prechter’s “Tidal Wave” and such… but during a bright moment I actually understand HOW the dollar may be in a deflationary rally, while gold is making one more final great leg down, and the real world economy is in trouble – all this only until it reaches a point where everything turns around and gets replaced by a crash in the dollar (wiping the hell out of the smart money) and a great bull market in gold.

I think in order to make money it is safer to stick to things like price action, sentiment, a few lines – and maybe an indicator or two to help keep track of momentum.

I like your charts and interpretations. Agree or disagree, work like this makes it worth hanging out here.



To: At_The_Ask who wrote (72218)4/26/2003 3:23:16 PM
From: skinowski  Read Replies (2) | Respond to of 209892
 
I think that the decline in gold could be corrective, but I see no reason why it couldn’t be an impulse. On the 60 min the action looks like a wave 4 consolidation (triangle?).

I am, btw, long from low to mid-320-s. If an impulse up gets completed, will look to buy the pullback. A drop below 327 or so at this moment is a no-no.