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Allan P. Harris wrote:
>
> At 10:48 PM 12/10/97 -0800, nwinski wrote:
>
> >Today I exited my
> >long silver position. I last went long six weeks ago at equivalent basis
> >March at 4.81 and today exited at 5.84 based on a target I generated
> >shortly after entering this position.
>
> I like this trade, Norman! Allow me to go out on a limb here and query if
> there was some Astro-Gann-Fibonacci involved in your decision making
> engine?
NW: Thanks Alan. Yes. Silver bottomed right after the July 4 New Moon
(July 4 was a market holiday). This New Moon occured in the sign of
Cancer which is the ruling sign for Silver. Additonally, that weekend
showed up as one of the largest planetary energy points I have ever
tabulated in the past 10 years on my current energy point system. When I
saw the panic I knew Silver was close to an important low. When Russia
announced they were selling too, I knew we were at the low. Afterall,
when was the last time the Russians told the truth about anything where
position of advantage was at stake? Only Americans are stupid enough to
do something like that. <G> Anyway, I bot on the way down. To make a
long story shorter, using some volatility and swing measures, calculated
on my $5 solar calculator, I arrived at the conclusion that the 5.06
area was a good place to exit, which I did on October 2. I then bot Dec.
at 4.74, based on Fib. retracements, which led to my exit of March
yesterday at 5.84. (March is seven cents over Dec.). I am now waiting
for one more pullback to the mid five dollar area which I think will
spawn one more rally possibly to about 6.85.
While waiting on for you to finish your well deserved nap and get
> back to us on that, I'll entertain the troops with some GET chart analysis.
>
> Silver made a High on March 3, 1997 at 543.50 (all quotes based on
> continuous Silver contract as per Primate Data). From whence it dropped in
> a GET labeled 5 wave Elliott decline into a low at 419.00 on July 8.
> Silver rallied and broke out of it's downward sloping trend regression
> channels, from the March High, on July 31 at 455.85. This was a GET "TYPE
> 2" BUY SIGNAL that is triggered at the end of long moves. It requires
> fives waves and a breakout of the channel that contains the five waves.
>
> Forget GET for the moment. Notice that Silver broke out of it's four
> month down trendline around the end of July. At the same time, it's
> previous habit of making lower highs and lower lows came full circle and
> Silver started making higher highs and higher lows. Wait, there's more.
>
> On August 4 we have a Ross Hook. This formed at 454.00. A breakout above
> here is another BUY SIGNAL. On August 15 we have that BUY with Silver
> closing at 456.00.
>
> Still not long?
>
> Fast forward to October and send GET back in. We have a clear 3 wave
> advance on the chart, with a high at 533.00, followed by a 62% (fib)
> correction down to the 460 area. On October 28 we have a lower low but a
> higher close on the day, a reversal bar. Silver continues up and breaks
> out above the downward sloping trend regression channels coming down from
> the late September 533.00 high. This occurs at 484.80 on November 4. The
> is a GET "TYPE 1" Wave 5 BUY SIGNAL, targeting 5.50 to 6.50 for the move,
> with an initial stop at the previous low at 4.64.
>
> But wait, there's more. We have another Ross Hook, on November 7 at
> 487.30. The trendline containing this 62% retracement is broken to the
> upside and we start getting higher highs and higher lows. Taking out this
> Ross Hook at 487.30 is yet another BUY SIGNAL. This occurred on November
> 11, when Silver closed at 490.50.
>
> While Norman may be out of the market, both GET and the Ross Hook
> methodologies are still Long Silver, with stops somewhere below yesterday's
> gap, let's say 560.00, just for closure purposes.
NW: Great. When you get stopped out, I will be there to help. <G>
Regards,
Norman
Nap les in FL
>
> I like that sailing analogy too, Norman, But sometimes it feels more like
> skydiving. Norman? Norman? Are you still asleep? Geez, what a life.
>
> Allan (not just a neural net)
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