In recent weeks the Dow Jones World Index had it's worst decline since 2002.
On the same page the VIX reached the highest point since 2003.
Given recent moves in major currencies (EURJPY 169 – 149, GBPJPY 251-219) gold have been as stable as one can expect from a major independent private currency. This is very encouraging to say the least. Odds still favors higher gold rates more then lower USD index.
Gold daily chart annotated with wave count
Same 1-2 extending
Silver daily chart annotated with Elliott wave count
Retraced September 2006 – February 2007 secondary advance
9 comments:
Excellent work! Thank you for the updates and continued due diligence.
Thank you!
To Higher Profits...
Woah! Gold price going up! Most interesting! Btw tq for dropping by! Have a nice day!
Gold should soon move to 700 and maybe higher. I see it as a positive for the global economy.
Troy-
I have EW counts for gold and silver which agree with yours but my internal counts differ.
I'd be really interested to know where you find the method of labelling which gives you an "a,b,c,d,e" decline for instance, and a similarly labelled wave three.
I have long observed that first waves in impulses rarely conform to the classic impulse pattern. Although nobody seems to talk about this much, I see it as a very important aspect of the theory which needs to be resolved. Perhaps your method of wave counting can shed further light.
Hi, thanks for the report. Excellent writing.
Would you mind adding our site to your links as well? We provide a similar service. We'll do the same.
http://www.goldmau.com
Come back, we love you!
Question:
What is the best way to leverage the price of gold with limited capital? (Not futures...those are too risky..)
I am thinking perhaps some call options, but on what issue? Any insight is much appreciated. I'll be checking back here for responses from time to time. Thank you.
cc: Gold & Silver Mining Stocks
Thank you all,
See this update:
http://goldandsilverstocks.blogspot.com/2007/10/xgdto.html
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