XAU: Fearful Symmetry
Steven Swink
This is a follow-up to my previous article: XAU: "The Big Picture"
Long-Term Outlook:
Idealized Wave Structure and WAG Prognostication:
Wave 3 (current wave) - bottom May 2004 - XAU 77 - 155 = 100% gain
Sept/Oct 2004 - XAU 105-115
Dec/Jan 2005 - XAU 85-93
Sept/Oct 2005 - XAU 150-160
Q1/Q2 2006 - XAU 105
Wave 4 - bottom Q1/Q2 2006 - XAU 105 - 210 (100% gain)
105-155 (Q3/Q4 2006) (light green)
155-120 (Q1/Q2 2007) (pink)
120-210 (Q3/Q4 2007 (green)
210 - 155 (Q1/Q2 2008) (red)
Wave 5 - bottom Q3/Q4 2008 - XAU 155 - 310 (100% gain)
155-210 (Q1/Q2 2009) (light green)
210-175 (Q3/Q4 2009) (pink)
175-310 (Q1/Q2 2010 (green)
Intermediate Term Outlook:
Feb-Apr: XAU 88 - 115
Apr-May: XAU 115 - 105
May-July: XAU 105 - 135
July-Aug: XAU 135 - 125
Aug-Oct: XAU 125 - 155
Short-Term Action:
Accumulate XAU less than 93
Buy XAU less than 90
Strong Buy XAU less than 87
XAU less than 83 will have to reevaluate the entire scenario
As mentioned in the previous article, this is the big wave up where beta will outperform- silvers, HUI, CDE, GSS, BGO, EGO, juniors. Total spec junk will start flying in 1-3 months.
Will it all work out exactly the way I propose? Probably not, but close enough for us all to make a ton of money.
P.S. I wish to express my heartfelt thanks to everyone at GOLD-EAGLE who voted for me at stockcharts. That took a lot of effort, and I appreciate it.
Steven Swink
More SMSC's Charts charts may be seen at:
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID667551
12 February 2005
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