...............................Wave C's Wave C Senor

Of the major upcycle's (since 5-16-05) Wave 4 down. Wave C's Wave C is the sharply declining phase of the sharply declining phase, which means that a huge decline should occur during the next week or so, and today's weak start jives with that. Most of the bullishness in the gold/silver stock market should be purged in the next week. Wave C's Wave C is such a dominant consideration now that the indicators are relatively minor for now. However, XAU Implied Volatility portends strength, rising to 38.455 yesterday from 38.025 on Monday despite a +1.86% rise in the XAU which is a sharp rise in fear that portends some probably short lived strength today. The XAU Put/Call Ratio fell to 1.33617 today from 1.38583 yesterday which portends some weakness today. I look at it pre open so no comparison with the XAU can be done. Yesterday however the XAU Put/Call Ratio fell more than the XAU rose % wise, so complacency crept into the gold/silver stock market. The Fed lent a large $12.75 Billion Repo today so index funds should soften the decline some today ( http://www.newyorkfed.org/markets/omo/dmm/temp.cfm ), but cycles portend a substantial decline during the next week. Option expiration on Friday is likely to exacerbate the decline and new Fed Chairman Ben Bernanke speaks today which could exacerbate weakness. The primary considerations right now are the Wave 4 minor int term downcycle since 1-31-06 and Wave 4's Wave C short term downcycle since 2-9-06 (which began IT'S Wave C late yesterday), which is the parabolic/sharply declining part of Wave 4, so don't even think about trading long unless maybe you're a super daredevil and try a very quick day trade, but you really shouldn't be trading long at all right now. See http://www.joefrocks.com/TradetheCycles.html for the weekly update. Scroll down a few pages past the major averages work to see the gold/silver stock work. See http://www.joefrocks.com/GoldStockCharts.html for all the charts. My home page is http://www.JoeFRocks.com/ I hope you'll take the time to e mail your friends re this Blog and my site/work/system. This will help to keep my work free, because the more visitors I get the more advertising $ I make. I have a long way to go but have made significant progress in recent months. Thank you.