yes it's possible, but the bullish case is that this is wave 1
of a 5 wave uptrend of wave C, if that's the case, we'll go to new
highs and could go up quite far i.e. 1150 - 1200.
The bear case wave 2 bounce would be eliminated on a breakout
over 1119, however it's already retraced 61.8% of the pullback from
1119 to 1085, so the higher it goes, the less likely that bear case
is. We'll see, I'll react to the market.
yes it's possible, but the
if this bearish count is correct
Posted by matt on 10th of Dec 2009 at 02:34 pm
yes it's possible, but the bullish case is that this is wave 1 of a 5 wave uptrend of wave C, if that's the case, we'll go to new highs and could go up quite far i.e. 1150 - 1200.
The bear case wave 2 bounce would be eliminated on a breakout over 1119, however it's already retraced 61.8% of the pullback from 1119 to 1085, so the higher it goes, the less likely that bear case is. We'll see, I'll react to the market.
Matt, under the bullish count,
Posted by junkie on 10th of Dec 2009 at 02:47 pm
Matt, under the bullish count, is GDX still in wave 4 or wave 5 is completed for it? I am looking for an entrance point into a GDX swing.
Matt, from the GDX 15mins
Posted by paulchan on 10th of Dec 2009 at 03:50 pm
Matt, from the GDX 15mins and 60mins charts, are they below the trendline and is this a SELL signal. Is it good time to enter to short the GDX?
I'd love to know what
Posted by deberah on 10th of Dec 2009 at 03:54 pm
I'd love to know what you think too. I'm long GDX and SLV and trying to decide whether to hold over night.
again even for the bullish
Posted by matt on 10th of Dec 2009 at 02:38 pm
again even for the bullish count, if this is wave 1, it will have a wave 2 pullback
yep Im with ya matt.
Posted by cwa82675 on 10th of Dec 2009 at 02:51 pm
yep Im with ya matt. For me its all based on the strength of the pullback (or 3 of 3 for bearish count). thats when I go long or hold my shorts.