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Earl,
The $400 swing target you show on your charts is also close to one of Carl's
"boxes" at 402.50.
Interestingly he feels that this bull market in gold is bigger than ones in
the past and he is ultimately looking for gold to make a high above $515 and
$534?
http://www.carlfutia.blogspot.com/
Normally that would fit with a whiff of inflation coming wouldn't it?
Don Ewers
----- Original Message -----
From: "EAdamy" <eadamy@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, May 18, 2005 8:21 AM
Subject: Re: [RT] GOLD
I trade gold only occasionally, however I maintain and keep an eye on the
gold charts.
Monthly shows several tops which provided long term resistance (now support)
in the 415-433 range. Weekly chart shows a completed 5 wave structure and
that both support and a series of significant trendlines are being tested.
Daily chart shows that the lower end of the range remains intact, however
the longest of the trendlines is barely holding on.
My crystal ball is cloudy, however I suspect that support is not going to
hold and that gold will at least approach the 400 area. The gold/xau ratio
is in buy territory, however that is not much comfort if the metal continues
to fall.
Earl
----- Original Message -----
From: Charles Meyer
To: realtraders@xxxxxxxxxxxxxxx
Sent: Tuesday, May 17, 2005 1:37 PM
Subject: [RT] GOLD
Earl-
If it's not asking too much; I was wondering if you could provide us with
a few pointers on your analysis of gold? I recall
some great posts from you in the past on this subject which I categorize
as 'oldies but goodies'. (:-) Tks if you are able to post any charts or
info.
Chas
----- Original Message -----
From: EAdamy
To: realtraders@xxxxxxxxxxxxxxx
Sent: Tuesday, May 17, 2005 1:52 PM
Subject: Re: [RT] sp500
I think that the shorts got a bit overanxious and got their stops run
this afternoon. All the hallmarks of a short covering rally ... fast,
relentless price move and mediocre (for the price move) A/D volume.
I closed out my long from Monday morning to stand aside a look things
over.
Earl
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