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Gold can do whatever gold wants to do but it will do so without my
participation. There are many other fish in the futures pond and I see no
reason to risk the volatility, the NY gold pit, and the miners vs banks.
Earl
----- Original Message -----
From: ken weiner <traderksw@xxxxxxxxxxxxxxxx>
To: The Torch <iceman_nrg@xxxxxxxxx>
Cc: Real Traders <realtraders@xxxxxxxxxxxx>
Sent: Tuesday, November 09, 1999 9:43 PM
Subject: Re: Futr: Gold
> The Torch wrote:
> >
> > RT's Gold is interesting...I did some analysis on it and came up with
> > a possible buy scenario based on Boucher's Runaway Criteria and Fib
> > Retracements. Check out the attached chart. Any comments? JS.
> >
> > ----------------------------------------------------------------------
> > Torch,et al
> A few golden thoughts:
> 1-If memory serves, descending right angle triangles tend to
> portend a continuation of a down move in a down mkt more often than a
> reversal
> 2-Mkts that reach the apex of a triangle are more prone to false
> breakouts (a.k.a. "Crazy Ivans" to use Walt Down's term - a false move
> up and then a plunge down through the horizontal base line)
> 3-This IS a NY mkt which to some would increase the probability of
> #2 happening
> 4-However, in the bullish camp, I did note bullish price/osc
> divergence and a slight bullish diverg in OBV, low CO numbers and the
> activity in gold stks mentioned on RT which can precede an up move in
> futures
> a- of course, everyone and all their relatives will have a stop
> in @287.9 or so
>
> Gold is presenting a reasonably typical trading situation with pros and
> cons for either posture - thats where the intuitive edge of the trader
> more seasoned than yours truly proves telling. Ken
>
>
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