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Re: [RT] ELLIOTT ON GOLD?



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Tks for your response Ben...........
 
Chas
----- Original Message -----
From: Ben
Sent: Tuesday, October 18, 2005 7:58 PM
Subject: Re: [RT] ELLIOTT ON GOLD?

charles
I am NOT an Elliot man
However,
500 will come Before 366
when
5-10 buss days
----- Original Message -----
Sent: Tuesday, October 18, 2005 4:07 PM
Subject: [RT] ELLIOTT ON GOLD?

Group-
 
I'd appreciate any thoughts or comments you might have on the following information.
 
Wave 1 =  August, 1999 to October, 1999
Wave 2 =  October, 1999 to February, 2001
Wave 3 =  February, 2001 to ???
 
It's difficult to get a clearly defined 5-Upwaves from the February, 2001 lows to present.  Yes, one can count 5-Upwaves
so there current move is actually an 'extension'; or as I'm thinking; part of an A-B-C 'irregular' correction.  This is because Wave 2 can be clearly seen as encompassing a great deal of both price and time; and any Wave 4 cannot be recognized as having the same symmetry.  
 
In any event; an irregular correction is what occurrred in 1976.  (Why market conditions may now be similiar to that time
period is beyond the scope of this explanation.)  Wave A occurred from 180 down to 129.  Then Wave B took the market from 129 to a new high on the last trading day of 1974 at a price of 200.  The final Wave C was then composed of 5-Downwaves that took place during the first 9-months of 1976 when gold bottomed around 103, in August of that year.   
 
I'm thinking that we are currently in a similiar Wave B; with the final Wave C to unfold sometime in the future in both
price and time.  Using some mathmatical formula; I get a price target of $366 and $368,
 
I'd appreciate and value a better, more correct interpretation?  Thank you for your time and attention.
 
Chas
 
 
 


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