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

To: pz who wrote (154772)	8/2/2011 5:12:52 PM
From: Sweet Ol	Read Replies (1) \| Respond to of 206094

I have held contradictory opinions on the direction of the market for some time. There are two possible interpretations of the waves. The bullish interpretation sees the action since February as a Wave 4 Triangle. This is a plausible interpretation as long as the Dow stays above the June 16 low of 11, 862.53. We closed today only about 4 points above this level. It does not look good for the bulls! The bearish interpretation suggests that the Dow is in Wave 5 of Wave 1 of Wave 3 down. Wave 1 down traveled 1,013 points down so guessing that Wave 3 will travel 1.6182 * 1013 gives us a target of 11,115 before the Wave 4 correction starts. If the 11, 862.53 level is taken out tomorrow I will go heavily short. I am lightly short now. Blessings, JRH