Since it has been established that HUI can labor for the year between 306 and 370, with what appears to be a three day spring of the January low price level and a very shallow pullback, I'm going to assume that once again the 370 level will get retested.

At least we know that buying on sale on August 16 was a good deal.

HUI
http://www.StockSharePublishing.com/ChartL..._1188867523.png

It appears SA's sale is providing some short covering momentum off the bottom

I'm watching to see if ANO is a breakout and intraday restest today.

http://www.StockSharePublishing.com/ChartL..._1188934974.png

XAU Weekly

Well, Charmin.

This is the easiest thread to spot, so'll put on a couple of posts to try to be a tie-breaker.

GOLD:

The candlestick charts for GOLD are "continuous contract" charts'

The daily tracks the "spot" price, while the weely currently tracks the December futures.

Note the differences in respect of the upper downtrend line.

If that weekly chart rules, the target for the breakout from the symmetrical triangle is 870-875.

GOLD:

Daily P&F.

The next 10 bucks could be tough sledding.

HEDON:

In response to your inquiry on the other thread ---Yes, an overlap of 140 would be most disappointing.

More important is a clear 5 wave move. I'm sceptical because the decline off the July highs was only 3 waves. I figured we'd need a 5 waver to complete the correction of the last year and a half.

I'm still worried that we could be in some kind of complex correction and all we're seeing is another sucker rally in a collosal "B" wave. 151.87 is where c=a.

But then, I'll take this rally with a big, broad smile on my face.

BV,

That $gold PnF chart is great. Althogh HUI and XAU are at resistances, lots of stox are getting much stronger vs HUI/XAU.

I bought some of this today:

Meta:

A big boo-ya (ugh, choke, gag) to 'ya.

Let's try that again.

"Well done."

I suspect you'll always be a general officer strategizing your campaign, while I'll always be a lieutenant leading my platoon from one squirmish line to another.

Meta:

I'm not seeing strength in the HUI components other than FCX.

But then, all of the copper stocks seem technically strong.

Most of the HUI's are still on sell signals or low pole reversals on the P&F's (50% retracements).

Or Charmin's "absorbtion" points.

If I'm right, the entry point is lower than today's bullish performance.

GOLD, the stock, by the way, is one of the few miners that has a positive P&F chart---but I'm sure you knew that.

I took some off the table. Closed out my AEM and GSS positions.

Not ready to put my "bull horns" on yet. Survived a radical prostatectomy. So it's hard to get horny about anything other than the markets.

Good trading,

B.V.

BV, sounds rational for your style of trading this sector.

Indeed, HUI and XAU are at critical resistances. I am not trading this sector aggressively at all, but will hold core positions (all of which have bullish PnF charts) and sometimes trade around them. Energy and tech are where I am hitting the buy button nowadays, ever since BPENER crossed up above 30, and NDX is quite bullish, including biotechs

Some bullish constructs (MDG on watch), but note HUI resistance.

My biggest position is in GLD, which will encounter next resistance at 68.1. This, in my opinion, is a better investment and not that subject to the whims of equities which are anything but stable, at present.

XAU:

Critical juncture here.

The intra-day can count as an abc correction---5 waves up, 3 waves down, and 5 waves up.

This current 3 wave pattern also corrected slightly more than 61.8% of the July/August decline.

The magic numbers are 146.26 and 139.68.

Overlap of 146.26 would indicate that the 2nd 5 wave pattern is extending---making it look more like a 3rd wave up, and not a terminal "c" wave. It would also exceed the normal 61.8% retracement level-- indicating a return to the July highs.

Overlap of 139.68 leaves a 3 wave move on the chart at a 61.8% correction---indicating that the recent rally was a corrective wave--possibly an "X" wave in a double zig-zag down (a WXY pattern).

Since Friday I'm trying PMPIX. Missed the bottom but I'm watching the spot prices and with the movement lately it looks promising. If I'm wrong, this time of year should be forgiving. Even if the regular markets eke out new highs the future looks bleak in the years ahead. With consumers' deep pockets empty I don't see where investment money will come from. Might take til xmas for all government reports to be negative and declare a recession in progress.

As for the miners: Throw out the little ones and pan fry the big ones.

Conform my expectations my monthly chart says the good times are coming back

Well it looks like Elliot is not saying gold 250 but 500 WOW
and that for a 2 wave

http://www.elliottwaves-online.com/de/cont...070906-Gold.php

So much for that 10 bucks. Up 15.60 @ 696.50 bid now

XAU 220-250 in 6-12 months

Brain dead trading...

gold has been in a pennant for the last year and 1/2 break out and 800 is in the cards. we are in a strong seasonal period. all of the pumping has not been lost on golds eyes.
smsc we are in the same camp, looking for much higher #s.
the dollar breaks the wall @.8 w/a couple of closes and its game on!
dharma

Another wonderful day to be a rabid gold kook.

Could there be a better day to return that today?

I've just been holding. For what seems like forever.

Congrats to anyone who managed to successfully trade this thing. And congrats to all those of us who will be long for the big rise, whenever it eventually comes.

AEM is turning out to be one beautiful shakeout with new highs.

http://www.StockSharePublishing.com/ChartL..._1189098524.png

I would like to see SA provide a wonderful example of a shakeout with new highs like AEM

fingers tied behind my back

I have been buying with 20 august in mind as the bottom
I was not wrong by much
I now hold double the physical and paper I held before

Ageka: Did you hang onto your Drooy?

so has cgref been taken over by uxg?! what has happened to it?!thanks dharma

I am a moron
I kept Drood and Hmy and Ang and the three Canadians like TNX and KGC and Meridian and doubled up
I tripled up on Drood

A guy that rode Echo Bay down from 6 to 0.6 and now is 200% up on the converted KGC is not going to be shaken out by a 50 % loss

I survived the eighties
I am probably going to suvive the 2007
Seven may be playing guitar but I continue his system

Wow - I didn't even take a look at the markets until now, assuming that today we would see another fall back. Stupid because today was the day to sell at the top - tommorrow will likely see a large decline.

I'm very dubious about that count. It's an abcde "B" wave? Not very likely.

5 wave moves are associated with 4th waves. "B's" are more likely abc's.

I suspect this Elliottian will ultimately revise his count

AEM could probably get up to the $55 overbought area easily.

http://www.StockSharePublishing.com/ChartL..._1189126663.png

I'd rather see a confirming move on up with spot gold but it is early yet and anything is possible.

I'm sure the gold gods will be good to Ageka's trading charts.

I think it was last month when I said that if one was buying stocks on sale NEM would probably qualify as a good candidate. The restest at 38 and now new high has the potential to confirm that sellers no longer have the upper hand. I'd like to see those sellers cover and see this stock get back to 48.

arms tied behind my back

http://www.StockSharePublishing.com/ChartL..._1189138165.png

It's nice when we can be happy go lucky

With SMSC's XAU projection to 220, we'll have to assume this little birdy is gunna fly now. If so, breaking through the 47-49 area is gunna be good.

PMPIX
http://www.StockSharePublishing.com/ChartL..._1189139000.png

I went to read the Impressum which is like a CV
I made the mistake thinking this was a Prechter mirror site for Germans
The guy here is born 1982 and doing elliot for 7 years
But being born in 1982 he ain't seen nothing yet

Anyway I have made my own mistakes all my life and I am glad that sofar I beat the godmode system by one ore two days sofar . We allways agree but I am allways faster

gold spot bid 702.50

Just needed the final pre-launch flush

i have been waiting to see if we would ever decouple. if this becomes a trend, then we have the juice for the heart of the move to gain some momo.
silver is lower this time when gold was @700. i am sticking by my prediction of years ago: silver will not better its 1980 highs and gold will.
@this point the metal is leading, i want to see the shares take over leadership. after sept 20th was the date that i had for the seasonal move to get in gear. it looks to have started. its still in a phase where buying weakness is the way to go, until we see otherwise. no margin yet. dharma

The goons thumped us into the close but we still got our 7-handle. On gold and the dollar. Take that.

Sold 1/4 of my positions this afternoon, hoping to buy back in a few days.

From the musical Paint your Wagon
Lee Marvin
Where we are going I ain't certain
Where we are going I don't know
Only know we are on our way


http://www.comdirect.de/index.html?gourl=h...erkte/main.html

Paint your wagon and come along



http://www.comdirect.de/index.html?gourl=h...erkte/main.html

daily

http://www.comdirect.de/index.html?gourl=h...erkte/main.html

and my secret love is no secret any more

Doris Day Anny get your gun

Another sell signal for USD vs Gold....broke support.

Anybody know why the 1/4 oz. US gold eagle doesn't have a face value of $12.50 instead of $10?

The nominal value which is kind of irrelevant probably was fixed by a committee during the apporval of the first minting

In Euro 50-20-10 seems the norm and half euro is only used on silver like 1.5 for a one ounce
Intrestingly Spain has high nominal euro values but their coins are less than the conventional ounce half and quarter

For instance the Europe on the bull coin is 13.5 g 0.999 and has a nominal value
of 200 E

Thanks. Sounds like the kind of decision a committee would make.

To all my brothers and sisters in gold kookdom, today is a good day. And I'm one lucky SOB because yesterday afternoon I bought back that 1/4 of my positions I sold on Friday. Just kinda' feel nekkid when I'm not fully invested.

Good move. Why jump off an impulse? HUI is now over 364, formerly known as resistance.

RGLD 32 is coming up soon.

I get itchy fingers sometimes. I've learned from past experiences that when I start to feel really good about how my accounts are doing, it's time to sell something, if only to buy back a little lower. But if this is the next big move up, I need to just let it ride. RGLD is my biggest position.