Precious Metals Market Timing	RONALD L.ROSEN rrosen5@tampabay.rr.com April 18, 2008

Those that followed my trade up from $875 on April 1st to $952 yesterday will have banked a good profit.

Ralph has made a very valid point this morning that I was discussing with Captain Ron yesterday about shorting gold here. Over the past few weeks I have discussed my Elliott Wave counts for gold showing my possible TIME & PRICE projections. Those included that Wave B is normally 50-100% in TIME and that the minimum projection was $952.3 with a maximum of $998.

However, one has to take other factors into account. Captain Ron has always stated that one should never trade in the TIME inversion period on DELTA. Right now we are in a triple TIME inversion period with LTD 2 as a high or low, with MTD 2 as a possible high or low, and with ITD 11 high coming in probably yesterday and entering the journey to ITD 1 which could be high or low. I am posting a Gold DELTA chart showing the “possibility” of MTD 2 High and ITD 1 High. Why the possibility?

Well, Captain Ron suggested a few weeks ago that just maybe the Wave 4 correction had bottomed at $872. What other evidence? Gold Options do not expire for another week and Captain Ron will cover that in more detail this evening. What more? Well the EURO broke out to the upside in its Wave 5 a few days ago and could take some time to complete. US Dollar Index chart is also pointing down until July.

So, how to trade this with all these possibilities? If gold is going to go back and test its breakout at $850, I would want to see a break of the rising trendline which is currently about $933 before considering a short. On the upside, the trendline comes in at around $970 ( my next Fib level for retracement was $971.3).

Conclusion, best stay on the sidelines unless you see these levels broken.

                                                        GOLD DAILY

   

                                                 SUMMARY

If you are an active trader and would like to utilize prompt and precise trading summaries
that include Delta Turning points and the expertise of Alistair Gilbert                         

                                                            subscriptions are available at:

                                       www.wilder-concepts.com/rosenletter.aspx

                           Stay well,
                           Ron Rosen
                                      

             M I G H T Y I N S P I R I T
 
                                  

Disclaimer: The contents of this letter represent the opinions of Ronald L. Rosen.  Nothing contained herein is intended as investment advice or recommendations for specific investment decisions, and you should not rely on it as such.  Ronald L. Rosen is not a registered investment advisor. Information and analysis above are derived from sources and using methods believed to be reliable, but Ronald L. Rosen cannot accept responsibility for any trading losses you may incur as a result of your reliance on this analysis and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities. Do your own due diligence regarding personal investment decisions