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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Archie Meeties who wrote (30728)	3/11/2004 3:06:27 PM
From: Sweet Ol	Read Replies (2) \| Respond to of 206176

<<Everybody is writing this correction off as just a healthy pullback. Maybe they are all right?>> Last night I was looking at some longer term charts from an Elliot Wave standpoint. It looks pretty clear to me that the bear market has been impulsive down (5 waves) and this bull rally could be corrective (3 waves). It is too early to tell yet, but it will be important to see where the market turns back up. The question is whether the current wave is wave 4 down, a correction of the bull market, or is it wave b of the correction up of the bear market. If it corrects more than a normal EW4, then it is probably the start of another impulsive wave down. That would imply that the rally was cyclical and the secular bear still rules. OTOH, if it turns up soon, it may be a 4th wave of the of the impulsive wave up, which suggests it is a secular bull rather than a cyclical bull. I think this will be a very important bottom, we shall have to wait and see. Best to all, JRH