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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (107579)	3/8/2008 2:12:46 PM
From: SwampDogg	Read Replies (1) \| Respond to of 313969

Agreed. If gold continues to $1200-$1500 in the next couple of months the 200 MA will be just under $1000 which will be tested at some point. I am not debating that gold will never correct it is from what level that is the question. I am 100% confident that it is not this level. Based on scale gold should move to $1500 to lay the table for a $500 range for the next large correction of many months. Look the gold chart is Feb/March of 2006. We are in a similar place. Building for the mama move. At worst we see a consolidation between $940-$990 before the main event. Notice the angle of the weekly MA in 2006. Look where we are today. This is gaining momo for the spike. I can also find no reasonable EW that counts this as a complete move. There are only bullish counts and uberbullish counts. This could be a iii of (iii) of 3 of (5) which would point towards $1500 by June at the latest. stockcharts.com