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Gold/Mining/Energy : GOLD-XAU -- Ignore unavailable to you. Want to Upgrade?

To: Michael who wrote (900)	12/24/1997 1:50:00 PM
From: IngotWeTrust	Read Replies (2) \| Respond to of 1756

My definition of short term in the Gold market is a 15 minute chart in the metal. The maximum length of my short term definition is 3 wks. My intermediate term is 1 mo. on the short side and 4 months on the longer end of the intermediate term. My long term definition is 4.7 to 9 years. The EMU is THE intermediate term reason. Also a dose of M&A activity that is ahead of us. Also the Asian Currency FLEW(grin) Re your concern that you will MISS it... Yes, YOU WILL, I WILL, EVERYONE but the newsletter writers who want to sell you a subscription will miss "it." That was the point I was trying to make when stating that the lows/highs are only known in hindsight! So, the solution to "missing it" is to change your thinking and acknowledge the reality that you WILL miss it along with a bazillion other goldbugs. But buying AT the low is NOT the way to make money. Buying the trend, regardless of where the high or low IS the way to make money. This involves discipline of one's thought and emotional processes! If you can discipline yourself to say: "I didn't get the bottom but I bought on the way up, within XYZ percent of the bottom and sold at ABC % over my initial entry point. THEN you will make money! This is not a game of picking bottoms and bragging rights, it is picking the entry point and getting the DIRECTION right and the eventual profit taking SALE right! Hope this helps! O/49r