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Created on: 12/20/2012 9:25:47 PM Last Update: 12/20/2012 10:37:47 PM Posted by: RTT
WARNING: This entry is 4376 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
1 POST
Gold re accumulation is healthy
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 Gold is under going a complex A-B-C correction. So far is very healthy.
The benefit of the doubt is that the current gold (GLD) pattern is one of re Accumulation. Why? Because we have not seen a traditional distribution pattern (double top, head and shoulders, triple top, rounding top). Plus the ECB, BOJ, FED, BOE are still expanding their balance sheets.
The recent rally is an easy spot for a Wyckoff Sign of Strength (SOS), sharp move up with good volume support. The problem for the whales in the market is that every one can see it. The current sell off (ie C wave) should be enough to trick, frustrate and scare the weak hands out of the gold float to the strong hands and only then will a substantial rally occur. The more tame and shallow the C wave is the more bullish the pattern is. Please note that Gold can still fall to 120 or 130 and still be very be bullish, as the ‘C’ wave is frustrating wave at the very least.
The recent sell off during the last full week before Christmas holidays is in sync with USDJPY rally and Apple Inc sell down which means some folks have to sell something profitable to balance their trading book before year end.
The ‘C’ wave becomes very nasty if volume explodes and price accelerates to the downside. So far easy sailing.
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Changes in the world is the source of all market moves, to catch and ride the change we believe a combination
of Gann Angles,
Cycles,
Wyckoff and
Ney logic
is the best way to ride the change, after all these methods have been used successfully for 70+ years.
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Investing Quote...
.."Thus, I affirm, every class of phenomena, whether in nature or in the stock market, must be subject to the universal law of causation and harmony. Every effect must have an adequate cause."..
William D Gann
..."Politicians and diapers must be changed often, and for the same reason."..
Mark Twain
.."It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt."..
Mark Twain
..“Investing should be like watching paint dry or watching grass grow. If you want excitement…go to Las Vegas.”...
Paul Samuelson
..“How many millionaires do you know who have become wealthy by investing in savings accounts?”..
Robert G Allen
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