5 of 5?? I could trace only two completed waves down, current
wave being wave 3. Gold stocks are in a steep downtrend, as Steve
mentioned in his last update.
"Seems like
it could havea 5th wave of 5 down on Monday early
and then bounce."
So "could have" does not mean it already has had, now does
it?
Looking at that GDX chart; sure
looks likewe either bottomed on Friday or the end
of day rally was part of a wave 4 up, with a wave 5 down yet to
come. Monday will tell us which.
Perth- As I read you, you are referring to a shorter time frame.
That's awefully confusing for those who read what you write, but
it's okay.. My target (courtesy of Peridot's GET program) for wave
3 down is near 42.5, and we are nowhere near that point yet. (The
*likely* price projection for the entire correction is MA(200),
which is near 150 on the $XAU, currently at 167). We only had a
slight bounce after a steep 6% decline in one day. Good luck with
your trades!
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5 of 5?? I could
How's GDX looking?
Posted by junkie on 19th of Dec 2009 at 10:40 am
5 of 5?? I could trace only two completed waves down, current wave being wave 3. Gold stocks are in a steep downtrend, as Steve mentioned in his last update.
5 of 5 GDX--Junkie
Posted by perthx on 19th of Dec 2009 at 06:32 pm
Read what I wrote and not what you think I wrote:
"Seems like it could havea 5th wave of 5 down on Monday early and then bounce."
So "could have" does not mean it already has had, now does it?
Looking at that GDX chart; sure looks likewe either bottomed on Friday or the end of day rally was part of a wave 4 up, with a wave 5 down yet to come. Monday will tell us which.
Perth- As I read you,
Posted by junkie on 19th of Dec 2009 at 11:43 pm
Perth- As I read you, you are referring to a shorter time frame. That's awefully confusing for those who read what you write, but it's okay.. My target (courtesy of Peridot's GET program) for wave 3 down is near 42.5, and we are nowhere near that point yet. (The *likely* price projection for the entire correction is MA(200), which is near 150 on the $XAU, currently at 167). We only had a slight bounce after a steep 6% decline in one day. Good luck with your trades!