|
PureBytes Links
Trading Reference Links
|
Hi Jerry.
May be I'll almost agree with your understanding of Gold market.
But I think - sale (especially
short sale) of ABX -
is extraordinary risky.
1. According to many idicators and fundamental data the market of
ABX is intensified.
Some basic charts:
http://www.geocities.com/WallStreet/8868/Archive/ABXchart1.gif
http://www.geocities.com/WallStreet/8868/Archive/ABXchart2.gif
http://www.geocities.com/WallStreet/8868/Archive/ABXchart3.gif
2. It's very often that is market is wide, it give a "flash" (viva
Fibonacci!).
3. Correction usually is not lower the last bottom (after such
"flash").
4. It's certainly very riskly to hope buy back at 20.75 when the bottom
was 21.3 ...
Apply the follows formula === tsf(close,21) ; tsf(close,34)
===
in the weekly price-chart --->
http://www.geocities.com/WallStreet/8868/Archive/ABXchart4w.gif
and you'll understand about what I am.
Sorry for my bad English. Anyway, good trading,
Aleks.
===================================================
GREHERT wrote:
As you know my "gestational cycle" predicts that
the market will top on or
around July 1st, 1998. (SEE: http://members.aol.com/grehert/
)
Then, there will be a standard type correction (or worse). I think
a
"trigger" could set off the July correction or perhaps one sooner than
July.
I have decided what the trigger will be!!!
The trigger will be a rapid rise in the price of gold.. Perhaps
$50 in one
week. Then everyone will start wondering if we will eventually
have to pay
for all this stock market liquidity that's making everybody rich.
That could
be the top for a short correction or for a more protracted bear market.
The reason I have concluded that gold is going to break out to the upside
sometime soon, is that I have decided to sell some of my ABX on strength
so I
can buy it back on a 2 dollar pull-back. Whenever I do this strategy,
it
never pulls back!
I'm going to sell 500 shares of ABX at 22 7/8 GTC, hoping to buy them
back at
20 3/4.
Best Regards,
Jerry Rehert (grehert@xxxxxxx)
"Too much information is no information"
Atlanta, GA
@ 03:28 pm, April 3rd, 1998
--
----------------------------------------------------
Reach me by ICQ. My ICQ# is 303275 or,
* Page me online through my Personal Communication Center:
http://wwp.mirabilis.com/303275
(go there and try it!) or,
* Send me E-mail Express directly to my computer screen
303275@xxxxxxxxxxxxxxxxxxx
|