Interesting article, but it seems to me that Matt's EW counts
which show that gold is either in major wave 2, or already launched
on major wave 3 pretty much trump all the conflicting signals that
he spells out. The large EW picture seems clear enough to me that
gold is the one position I'm willing to hold -- although it does
make me uncomfortable to see so many ads on TV for the stuff!
Posted by junkmaylbox on 19th of Feb 2009 at 05:24 am
$gold does not seem to follow the Elliot wave analysis --nor
technical analysis, as a matter of fact -- as well as everything
else. One reason for that is covert manipulation of gold prices. As
for the television adverts, I would simply use them as a good
sentiment indicator without believing all those prepaid theatrics.
If gold is wanted by nearly everyone, it's high time to be selling
it.
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A good argument for gold's being overextended now
Posted by junkmaylbox on 18th of Feb 2009 at 09:46 pm
here
Interesting article, but it seems
Posted by puma on 18th of Feb 2009 at 10:30 pm
Interesting article, but it seems to me that Matt's EW counts which show that gold is either in major wave 2, or already launched on major wave 3 pretty much trump all the conflicting signals that he spells out. The large EW picture seems clear enough to me that gold is the one position I'm willing to hold -- although it does make me uncomfortable to see so many ads on TV for the stuff!
But yet EWI is calling
Posted by Michael on 19th of Feb 2009 at 08:20 am
But yet EWI is calling for gold to top out soon and correct to 650.
thanks for posting the article
Posted by dallassteve on 19th of Feb 2009 at 10:07 am
thanks for posting the article about gold. I am hoping gold corrects to its 200 day MA. I will buy more!
sentiment on gold
Posted by junkmaylbox on 19th of Feb 2009 at 05:24 am
$gold does not seem to follow the Elliot wave analysis --nor technical analysis, as a matter of fact -- as well as everything else. One reason for that is covert manipulation of gold prices. As for the television adverts, I would simply use them as a good sentiment indicator without believing all those prepaid theatrics. If gold is wanted by nearly everyone, it's high time to be selling it.