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

To: Bearcatbob who wrote (152547)	6/11/2011 7:07:33 AM
From: tom pope	Read Replies (1) \| Respond to of 206160

if Libya was resolved tomorrow I would think an up wave would start. If a quality long range budget deal were reached I would think an up wave would start. My guess is that a quality budget deal is key, Libya paling into insignificance by comparison. "Quality" is the important qualifier though.

To: Bearcatbob who wrote (152547)	6/11/2011 11:20:57 PM
From: Sweet Ol	1 Recommendation Read Replies (1) \| Respond to of 206160

BC, Elliott waves measure mood of people, or the majority of those in the stock market, or in a particular stock. The market does not move because of events, but because of mood changes. Now, a budget resolution would most likely be a catalyst in a mood change as it could make people more optimistic. But maybe not - there is always the "buy the rumor, sell the news" that changes mood in ways that don't seem to make sense if you only look at the events. I think that the cause of mood changes is much more complex than a single event, or even several events. Over a period of time you tend to begin to think differently about something and so you are ready to change your mind about something and then suddenly you do so - it may or may not be in conjunction with some discrete event. Since people are herd animals once a trend changes everybody start piling on the new train. There is a whole new branch of social science developing based on the Elliott Wave Theory. It is called Socionomics. Some of the stuff they are coming up with is very interesting. You might want to do some reading on the Socionomics Institute web site, socionomics.net. There is also good introductory material on the Elliot Wave site, www.elliottwave.com/ I find it very interesting and also helpful to try to understand what the market is likely to do. Blessings, JRH