Trade the Cycles

Thursday, December 08, 2005

NEM Is Underperforming The XAU By A Wide Margin Right Now

At -0.80% vs the XAU. It appears that NEM is going to fill it's downside gap created yesterday at 48.75 in the near future. Williams %R is extremely overbought near 0 for the XAU. In the XAU's 5 day chart http://finance.yahoo.com/q/ta?s=%5Exau&t=5d&l=off&z=l&q=b&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c= you can see that the monster spike move is rolling over. I sold most of my positions and may be 100% in cash by session's end. The Elliot Wave 5 short term and potentially monthly cycle high probably didn't occur today but it might have. Ciao

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