[ccmay]

As bleak as things look right now, it seems that technically we are in a standard correction of a 5-wave move up from November 2000 (HUI 35) to December 2003 (HUI 258). This correction appears to be forming into an A-B-C movement with the C leg now forming. If traditional Elliott Wave analysis is worth anything (and that's a big if in a rigged market), then the A-B-C correction is nearing its end. If the C leg ends up equal length to the A leg, then the end will come around 155 on the HUI chart. But of course it could be over right now, or anywhere in between 175 and 155. There is massive support in the 165-172 range. Moreover, nothing mandates that the A leg and the C leg must be equal in length. And this is even truer in a rigged market.

I'm sorry. This is complete rubbish, the economic equivalent of homeopathic medicine. You could do as well in the market by reading tea leaves or throwing darts. What complete and utter horse s**t.

-ccm

[endthematrix]

The author depresses me and I'm one of the biggest pessimists here!

[dinodino]

Elliott Waves? LOL. This guy is full of crap.

[KeyWest]

-oil, with the price climbing past $150 per barrel-

We are already at $50 per barrel (passing through it again, but going down) which is the break point for most alternate fuels to take oil's place and to make shale an alternative source. The problem with all economic models is they prefer to have a static universe where everything continues as it is with no changes.

The best thing for the US is for oil to go a bit higher and stand back, since there will be lots of alternates to take its place. Even nucs will make a comeback.

Just think whale oil.

[MineralMan]

Wacky gold bug bump.

[fso301]

What is it with goldbugs and their persistent apocalyptic visions of the future?

[bert]

How possibly can gold remain at $400 with all this on the horizon?.......

Steve Forbes said so. He said that $400 gold in the natural level. To pay more is a big error. What's really interesting to me is that this level is recent revelation. For years Steve has said the natural level is $350. He has quietly allowed his target to slide upward with no real reason for doing so. He is apparently chasing a moving target very slowly, always behind.


Then there is the posted article. It is drivel. Anybody who says anything about technical analysis must be viewed with scepticism unless his words are to discredit.