search elliott


  • Google
Share/Bookmark

Enter your email address:

Delivered by FeedBurner

FlagCounter

  • Where From?
    free counters
Related Posts with Thumbnails

« Choppy Waves, Rally Coming UPDATED | Main | Santa Rally Coming To Town »

Thursday, December 11, 2008

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

DG

Neely said the other day that the gold market had a lot of psychological overhang from the bear and current-day worries about the amounts of all the bailouts leading to hyper-inflation. Wouldn't it be ironic that by hoarding gold and not spending, the gold bugs were themselves hastening deflation, which is Neely's macroeconomic forecast? Seems plausible or at the very least the gold bugs aren't helping stave off deflation. Since gold isn't going up, they don't even have a "wealth effect" to keep them spending.

Yes, this was another example of a triangle that ended a correction, rather than led to a continuation.

DG

Neely said the other day that the gold market had a lot of psychological overhang from the bear and current-day worries about the amounts of all the bailouts leading to hyper-inflation. Wouldn't it be ironic that by hoarding gold and not spending, the gold bugs were themselves hastening deflation, which is Neely's macroeconomic forecast? Seems plausible or at the very least the gold bugs aren't helping stave off deflation. Since gold isn't going up, they don't even have a "wealth effect" to keep them spending.

Yes, this was another example of a triangle that ended a correction, rather than led to a continuation.

Wave Rust

yelnick

good observervations,,, did you short oil though? :)

oil and dollar seem to want to go their different ways,,, but this often the case at times of trend corrections for crude, or reversals

the time for am oil reversal is coming in a week or two at most,,, smae for eurodollar,,, but bearish dollar yen is keeping asia buyin bonds at their highs,,, somebody has to give us a bridge loan to get us through our long depression,,, japan understands decades of rates at zed with gdp and real estate in a self flushing toilet

the gold herders are staring at fomc and opec meeting in the same week,,, call it 'perception deception' of really oversold global equities, bonds at parabolic highs and congress willing to spend and print money until the people begin to fear inflation.

but gold is good to have in either flation.

this is just a mess that only father time can fix. we'll muddle through as we always do.

wave rust

MT


NDX count is clear enough:

http://i366.photobucket.com/albums/oo106/mtcharts/NDX.jpg

usdollar

It looks like both djia and spx has made a double 3 correction between oct 10 and dec 8, flat, x sharp.

DG

My earlier post about gold trader psychology should have said there was "overhang" from gold's BULL market, hence people thinking that gold was ready to resume it's bull despite evidence of deflation emerging.

Neely's changed his count on gold and is no longer forecasting an immanent move to new lows, but he's not bullish, calling more for a trading range that will present good short and long opportunities for the patient.

Bonds may have had a reversal day yesterday. Shorting them with a stop at yesterday's highs is a very low-risk reversal play.

george

major bradley turn date is upon us.
having looked at the 2009 bradley model
it is indicating extremely small minor turning points until
midyear when there is a major turn
. if you are a bull i guess this weekend should
spell the turn to the upside until midyear 09
based on bradley with few if any shallow corrections. if you
are bearish i guess you are hopefull the cycle inverts
spelling continued downside until midyear 09 on the stock
markets with few if any bounces
. if pretcher's people are right... i guess
we are due for an inverion of the bradley spelling a
major move down without any real bounce based on the model
until midyear 09. i guess that all depends if we are in
a 4th wave bearish trend continuation triangle?
george

george

http://www.amanita.at/e/faq/e-bradley-com.htm
link to bradley model 2009

The comments to this entry are closed.