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  • #302,841
  • Oct 7, 2010 2:50pm Oct 7, 2010 2:50pm
technically, you can't possibly talk about a reversal. trend must be assumed intact until proven otherwise and in this case, bears have to break more levels on the way down...

however, i tend to support your view because 1.40 is supposed to be a stronger (from a higher time scale) resistance. but that's it... just a bounce off a resistance level. for me it's not enough to consider a reversal, i need a solid confirmation and this would come below 1.32 (for now). but that's just me, trading larger timeframes...

Quoting enterfx
Take it easy Austin. Perhaps you don't see what I see but I've been posting charts about this reversal a few times lately. yesterday I mentioned 1.4010/25 as a possible peak and top this week.

Just added short at 1.3922 by the way
Nihil Sine Deo.
  • #302,842
  • Oct 7, 2010 2:50pm Oct 7, 2010 2:50pm
Quoting SkyzerFX
Industrial metal cost more than gold? Or food more than Gold?

I want historic examples of that.. Who needs industrial metals, if Industry

is dead? Common, Gold haters (who lose the train), get some coming sense..

You can buy bread for Gold, even during WWII while blockage of Leningrad (St. Petersburg)

I didn't remember the stories when people exchanging Aluminum or steel

for Bread, sorry.

Even f* Lenin (nick name Lukich / Luka Mudiczev), was scrambling for GOLD, the only way to get FOOD under maniac ".GOV"
pick a book about war over the last 5000 years. gold/bread has always been given up with the proper metal. molded in the proper shape pointed at the gold/bread holder.
those who can, do. those who cant, talk about those who can
  • #302,843
  • Oct 7, 2010 2:50pm Oct 7, 2010 2:50pm
"Ron Paul Powerful Speech - A Call for Revolution? "



Inserted Video
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #302,844
  • Oct 7, 2010 2:52pm Oct 7, 2010 2:52pm
Creepy Stuff

We have the same number of pips from the bottom because of Q.E. 2 chatter.
with the dec 2008 week Q.E. 1 chatter from (1.257 - 1.4710)

Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #302,845
  • Oct 7, 2010 2:53pm Oct 7, 2010 2:53pm
Quoting infinitus
Hi Naser,

sorry, but regarding to Elliott Wave Principle (p.88) in a diagonal wave 2 and 4 each usually retrace 0.66 to 0.81 of the preceding wave

Notice the word usually.

In my eyes this difference is academic. I can life with both.
Thank you for your guidance and training
  • #302,846
  • Oct 7, 2010 2:54pm Oct 7, 2010 2:54pm
Quoting B&b
I expect 1.41 for tomorrow so I'm still long
i expect to be wrong or not.. its why i use m/m
those who can, do. those who cant, talk about those who can
  • #302,847
  • Oct 7, 2010 2:54pm Oct 7, 2010 2:54pm
Only 12% of gold is used in non-bulion, non-jewellry business. With platinum pushing it from above and silver from below, all gold's value is in your head, thats it. It's hard to get and it looks pretty , that all.



www.deadcount.blogspot.com --- bad news special
  • #302,848
  • Oct 7, 2010 2:55pm Oct 7, 2010 2:55pm
Quoting Bootleger
"Ron Paul Powerful Speech - A Call for Revolution? "



http://www.youtube.com/watch?v=-vLV4jn8BMU
you do realize this guy is not a mouth piece for a majority of Americans?
even though i agree with a lot of what he says.
those who can, do. those who cant, talk about those who can
  • #302,849
  • Oct 7, 2010 2:56pm Oct 7, 2010 2:56pm
What do ppl expect from tomorrows news?
Think a good number will drag the USD up or down?
  • #302,850
  • Oct 7, 2010 2:57pm Oct 7, 2010 2:57pm
Quoting gatorinla
we will c.. lm looking for confirmation.. i have it a little higher 4038 ish.. but with news friday we will c.. i agree with your abc scenario and it seems some big boys do also since they moved the market today. here is another nugget.. i still need at least one complete bear wave.. 38559 + slip then a bounce above
then a close below would help me.. but this trend is strong, all trends end and no tool is 100%..below 3672 would help too (red line) first target for gartly is 33333

Agreed. I am prepared for another push above current high. Elliotwave says max 4027 - 4054. We satisfied today. also 3855 is not far away from my number 3831 which is the lower tl tomorrow. a close below would indicate a final top for now.
  • #302,851
  • Oct 7, 2010 2:57pm Oct 7, 2010 2:57pm
Quoting Sunsi
What do ppl expect from tomorrows news?
Think a good number will drag the USD up or down?
i think if you get a big number positive
initial reaction will be USD gaining strength.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #302,852
  • Oct 7, 2010 3:01pm Oct 7, 2010 3:01pm
Ron Paul: U.S. Heading for Soviet-Style Economic Collapse - October 6th 2010



Inserted Video


Audit Forth Knox
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #302,853
  • Oct 7, 2010 3:02pm Oct 7, 2010 3:02pm
Quoting enterfx
Agreed. I am prepared for another push above current high. Elliotwave says max 4027 - 4054. We satisfied today. also 3855 is not far away from my number 3831 which is the lower tl tomorrow. a close below would indicate a final top for now.
depending on your close time. below 3918 is bearish st.. murry says 3916..
those who can, do. those who cant, talk about those who can
  • #302,854
  • Oct 7, 2010 3:04pm Oct 7, 2010 3:04pm
earning season just started.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #302,855
  • Oct 7, 2010 3:05pm Oct 7, 2010 3:05pm
are you talking about New york market close, below 139.18 bearish trend
  • #302,856
  • Oct 7, 2010 3:06pm Oct 7, 2010 3:06pm
Quoting gatorinla
we will c.. lm looking for confirmation.. i have it a little higher 4038 ish.. but with news friday we will c.. i agree with your abc scenario and it seems some big boys do also since they moved the market today. here is another nugget.. i still need at least one complete bear wave.. 38559 + slip then a bounce above
then a close below would help me.. but this trend is strong, all trends end and no tool is 100%..below 3672 would help too (red line) first target for gartly is 33333

Hello Gator,

hope we do not get a contracting leading diagonal here. Then it will be heavy to get to 3672

But Leading diagonals offer a good chance for a good shorting entry when they are in wave 1 position. The wave after the LD will normally retrace deep. 70% or more are not seldom.
  • #302,857
  • Oct 7, 2010 3:08pm Oct 7, 2010 3:08pm
Quoting DMA Trader
earning season just started.
Again, good season for mining shares coming...
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #302,858
  • Oct 7, 2010 3:08pm Oct 7, 2010 3:08pm
Quoting DMA Trader
i think if you get a big number positive
initial reaction will be USD gaining strength.
A good number would ease concerns of QE2, well, one would think. lol
  • #302,859
  • Edited 3:19pm Oct 7, 2010 3:09pm | Edited 3:19pm
Quoting tonyo524
Let me ask you this for clarification. A lot of the gold purchases are actually computer based, and there never really is any exchange of physical material. Currently you could have a pound of gold in your room, but in order to make any real world transactions, ie mortgage, fill the tank up, pay the waterbill. You would have to convert that gold into paper money, so how does that make gold that more valuable? Not a gold trader so trying to get some insight!
GOLD no different then any other asset, don't you think? Yes physical Gold

is not convenient if you planing to sell and buy daily. This is just a store of

value.. Like if you have extra $500k doing nothing it might worth to invest

in GOLD instead of 0.00005% Saving account. Yes it's volatile..

I can give you an example.. in 2006 I got extra $$$ and invest in Chinese

Funds, some stocks and about $200k in Silver, guess what.. Those stocks

and all other sh*t is still under water since then and Silver is up..

So? Stocks (Shares can be printed same as Dollars * dilution/ splits and so on) can go to ZERO...

Dollar can go to ZERO, but 1OZ of

GOLD/Silver CANNOT become 1/2 OZ? You know what I mean???

I was talking my wife over taking freaking LOAN and loan half of the house

for GOLD when GOLD trades at $700/OZ, you know how women are..

There you go. House lost about $120k in value and GOLD nearly Doubled.

I was actually more leaning toward Silver all the time.. Got sh*t load of

physical and electronic.. When you have it, you don't worry at all.



Going to think to sell some around $30/oz, not before.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #302,860
  • Oct 7, 2010 3:09pm Oct 7, 2010 3:09pm
Quoting naser007
Thank you for your guidance and training
You are welcome
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