Looksmart Limited (LKST)

[andy20020]

Hi Leppard ...................................................
I'm still learning Elliot theory and even the best of them dissagree on what waves are what. I think this is two down of five up ... if so we should get a small washout spike down reversal to that $3.23 but such support levels seem soft so I'm half expecting it to break under there for the bottom BBand. IMO no TA reason to be long yet.
Gold ... NEM is making another high in the US and the volume being modest suggests higher still ... where NEM goes all golds appear to follow. Watch its close as things are getting toppy here IMO and I'm half expecting a small market rally, gold retrace, before a bigger market down move later. But in the mean time I'm being very cautious. The bios are up in the US ... will this flow into Oz today?
Regards