................Thanks For All the Kind Words
Thanks for all the condolences/kind words, mostly via e mail. God bless you and all readers.
Concerning the market, a quick update. Keep in mind that this is based on a very quick look, but, I have confidence in it. SPX (S & P 500) might have put in an important intermediate term cycle low today/11-19-07, see http://stockcharts.com/charts/gallery.html?%24spx, and note the bullish large inverse spike on today's candle (right now, could disappear by session's end). SPX (S & P 500) is probably in a multi year (probably greater than one year at least) Cyclical Bear Market since 10-11-07.
HUI/XAU are/might still be in a big short term Wave A downcycle, and, probably entered a one yearish Wave 2 Cyclical Bear Market on 11-7-07, see http://stockcharts.com/charts/gallery.html?%24xau.
Gold might have put in a very bearish double top with the 1980 Secular Bull Market cycle high, I still need to check the numbers, so, keep in mind that even I may be too optimistic about HUI/XAU/gold, partly because of the potential very long term bearish gold double top, but, more so for the mortgage/credit bust/debacle that continues to unfold. GM might be forced into bankruptcy I think I heard and many others obviously. The surprise might be to the downside of 220ish for HUI, 95ish for the XAU, and, 500ish for gold. Welcome to DEFLATION. May the force be with you.
....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Concerning the market, a quick update. Keep in mind that this is based on a very quick look, but, I have confidence in it. SPX (S & P 500) might have put in an important intermediate term cycle low today/11-19-07, see http://stockcharts.com/charts/gallery.html?%24spx, and note the bullish large inverse spike on today's candle (right now, could disappear by session's end). SPX (S & P 500) is probably in a multi year (probably greater than one year at least) Cyclical Bear Market since 10-11-07.
HUI/XAU are/might still be in a big short term Wave A downcycle, and, probably entered a one yearish Wave 2 Cyclical Bear Market on 11-7-07, see http://stockcharts.com/charts/gallery.html?%24xau.
Gold might have put in a very bearish double top with the 1980 Secular Bull Market cycle high, I still need to check the numbers, so, keep in mind that even I may be too optimistic about HUI/XAU/gold, partly because of the potential very long term bearish gold double top, but, more so for the mortgage/credit bust/debacle that continues to unfold. GM might be forced into bankruptcy I think I heard and many others obviously. The surprise might be to the downside of 220ish for HUI, 95ish for the XAU, and, 500ish for gold. Welcome to DEFLATION. May the force be with you.
....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, SPX, XAU
posted by Joe Ferrazzano at
11:55 AM
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