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Firstly : thanks for all the replies on data bases. Much appreciated.
GOLD
This may be a little lengthy but bear with me.
1. There is a grave mis-conception that gold only moves in an
inflationary environment. This is not the case. Homestake appreciated
some 14 fold in the 1930's!!
2. Draw a sine wave. Then draw another displaced to the right by about
one third of a cycle. The first is the economic cycle the second is the
gold cycle. For 70% of the cycle the gold wave follows the economic wave
and inflation BUT for one third of the cycle gold goes in the opposite
direction to the economic cycle. Gold and inflation works for only 70%
of the cycle.
3. Elliott Wave rules of alternation confirm that the reasons for the
first thrust will not be repeated as the reason for the third wave and
the fifth and final wave will also have a different driving force.
Wave 1 from $35 to $185 was due to the gold price being artificially
restricted for so many years. Wave three from $100 to $850 was the
inflationary cycle. Whatever drives gold well thro $850 will be for a
totally different reason...it certainly will NOT be inflation. Most
probably a flight from paper.
4 There are large buy divergences on all the South African stocks as
well as ASA which is also showing a major buy divergence on my Advance
decline indicator.
5 Platinum is already well into its fifth bull market wave, from January
this year.
6. Once the Dow has peaked it will be set for a major correction.The
full extent of this may not become evident for some time.
7. There is a possible Rising Wedge pattern on many of the US indicators
which may well lead to a very sharp fall.
8. All my comments on the DOW and gold are not meant as immediate
reactions, but all the warning signs for a significant trend reversal on
the Dow and Gold have been in place for some time.
I repeat my warning that all international markets have been in a huge
blow off stage for the past six months and a bull trap for the unwary.
We are looking at very old markets trends ... not new ones.
Regards
Clive Roffey
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