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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8935
Forum Topic:

Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)
 
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DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jun 1, 2011 20:28
SPX and Dow etc looking pretty grim today having erased most the 5 days gains from the 25th May low. I warned about lower prices if the 5th May low were taken out. Pattern is very obscure on the way down from the 2nd May high, looking more corrective than impulsive. An Impulsive move was violated when potential wave 4 breached wave 1 territory in a big way. Thus the pattern was labelled ABCDE corrective instead of 1,2,3,4,5.

NYSE internals today denote true 8% trend day
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jun 1, 2011 20:15
copper long position from ABC low corrective idea failed to make minimum target as yet at 424.80. If the ABC corrective down idea were valid copper should make new highs above 464.95 but after today action the jury is out. Interestingly price made a high yesterday kissing the 55dma.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jun 1, 2011 20:07
silver lagging and as I suggested the close correlation with gold is now lacking somewhat. So far its only made 38.2% ret of its dramatic move down.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jun 1, 2011 20:04
gold again assuming its safe haven role. Broke through my first target at 1538.7 and reacted off the 78.6% ret level. Next upside target at 1557.
Sir Ignore
United States
Posts: 3068
13 years ago
Jun 1, 2011 19:00
lol..they are underestimating NYC ladies' jewelry which cud.feed the world..

dem Russians eh?
Citiboy
London, UK
Posts: 20
13 years ago
Jun 1, 2011 13:56
Russia Says IMF Chief Jailed For Discovering All US Gold Is Gone
http://www.eutimes.net/2011/05/russia-says-imf-chief-jailed-for-discovering-all-us-gold-is-gone/
Qingyu
manchester, UK
Posts: 1763
13 years ago
Jun 1, 2011 8:46
china pmi not good! @-@
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
May 31, 2011 23:51
gaps are not ALWAYS filled. The best time to trade gaps is in the first 2 periods of NYSE open (i.e first 60 mins of day session). Linda Rasche did some backtesting for gap trade criteria. From memory the success rate was about 72% trading to her criteria. Sometimes partial fill TP which equated to the size of the openingh gap for cash mkt. If mkt opens into the start of a wave 3 for example you aint gonna see a complete gap fill.
jacek
Melbourne, Australia
Posts: 2579
13 years ago
May 31, 2011 23:41
cityboy wouldn't short dow/spx futures here unless dip pockets or hedged with underlines for dividends.. the next cycle just started off recent supports (spot on there Dave:-) so both might retest highs before northern summer is over..

DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
May 31, 2011 23:39
Risk appetite has prevailed last 3 or 4 sessions. Are you a member of Ashraf service because he been calling stocks.
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