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 : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: nspolar who wrote (9604)	7/16/2008 1:29:01 PM
From: nspolar	Read Replies (2) \| Respond to of 33421

Continue to gingerly add a few more Dug calls and GG puts. So far pretty good. Take a close look at the XAU. I see a '33333' off the Aug '07 low. ED's do not have to be the nice neat looking diagonal triangles, as the experts so aptly point out. Read also the part about normal retracements. elliottwave.com If XAU did a 5th wave ED top, we will by end of year or before see XAU hit 120. GG I believe has finally put in a 5th wave top, and will drop below 20 before it bottoms. Many other more junior like issues are hitting near all time lows. Now with GG the darling back at 20, given the situation with some of the other issues, this infers a low in the HUI that is quite a ways down there. The CRB is likely now in full retreat, and it should go back to 300 or so at the next low. I think the general markets may like all this very very much. This imo is the last big retreat in POG, now in swing. The bottom is going to make for buys of a lifetime. The same in general I think may be true for many other metal based equities. The ones that interest me the most at the moment, for future buys, are those that produce valueable basemetals. If there are some that produce decent amounts of gold and silver, with the base metals, all the better. My current logic is this run is going to be longer than most can perceive, and the money will roll from commodity based issued first to inflation sensitive issues ...i.e. gold will really start to shine after the commodity run is well along the way. Fundamentally this market on an overall basis is impossible to figure out. I tend to think the DOW has finished or is nearly finished forming a hard pivot, that will mark a low that could last for quite a while. This pivot is the first key to continuation of the charts shown in #msg-24745036; and is the 50 % retracement mentioned in the 10760 area. Next we need to look for a flag off this pivot, later this year, i.e. a higher low. TF