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kavajava
Penny Collector Member
USA
490 Posts |
 Posted - 09/11/2008 : 00:49:24
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A good article, with some interesting Fibonacci numbers that indicate we may be close to the bottom...worth a couple minutes to read.
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 09/11/2008 : 10:42:44
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| Interesting to note that the 61.8% Fibomacci correction to $10.34 for silver happened this morning--silver then began going up--if it holds this could be the bottom...time will tell... |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/11/2008 : 12:19:49
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Yeah that Elliot wave stuff still says we are OK and that the bull market is still in place. All the other bullish technicals have been blown out of the water.
Basically, up moves have 5 stages (up, down, up, down, up) and down moves have 3 stages (down, up, down). The full cycles nest inside of each other and they call them supercycles, cycles, primary cycles, etc. depending on whether or no they take place over years, months, weeks, hours, or minutes.
Right now the theory is we are on the last leg down in a smaller down cycle and ready to start the second leg up in a much longer and larger up cycle. IF the theory holds, gold should bottom here and then work its way up to 2K in the next few years. But that kind of stuff is like reading tea leaves.... |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 09/12/2008 : 09:50:47
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| The low has held up through the night and this morning...kind of waiting to see at what price it closes for the week...may consider buying more this weekend if it looks like the low is in... |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 09/16/2008 : 14:42:33
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| Tuesday afternoon: testing the lows, but they are still holding up... |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/16/2008 : 14:50:14
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quote:
Originally posted by kavajava
Tuesday afternoon: testing the lows, but they are still holding up...
The miners are continuing to confirm that a turnaround in PMs is coming. Today was another up day for the miners despite a down day for gold and silver. Fingers crossed, knock on wood, pick up a penny, rub the head of a bald guy, etc... |
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scooter
Penny Pincher Member
240 Posts |
Posted - 09/16/2008 : 14:55:33
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| silver is so low. I am aware its a buying opportunity but jeez with everything going on in the market it really seems to defy a explanation. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 09/16/2008 : 14:59:55
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| New CPI numbers out this AM indicate deflation (mainly due to lower gas prices during the period measured. Fed meeting today to consider cutting the bank rate below $2. Mixed reviews according to CNN on what a cut would mean - maybe that the Fed is desperate and out of options, or maybe that they are willing to support the banks (normal explanation). However we have not far to go before the Fed is handing out free loans / 0% interest - and that is just not good for anyone. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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Good article by Franklin Sanders
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