Zeev's Turnips Patch-No Politics (ZEEV)

[Ken2]

<< I've included the start of Adam Hamilton's latest on the subject in case you're still interested. >>

Basserdan,

OF COURSE I am still interested !!! :o)

Yes, we needed a large white candle on Friday to heal the ratio charts and we got it. Now we need follow through next week. It doesn't look nearly as sad as it did on Wednesday, but we need a couple more white candles soon for it to look good.

Fascinating article by Adam. THANKS !!!

The good news seems to be that the next upleg should be great if this one fizzles. The bad news is that he seems to expect this upleg to be almost done.

I remain cautiously optimistic. One reason that I think Xau and Hui have underperformed is the expectation that POG was topping. Gold's action Thursday and Friday seemed to dispel that thought. IF POG continues up as I expect, then I do think Xau and Hui will play catch-up. I think that POG might attempt to reach $500 by Christmas. If so, might that 10% move in POG generate a 30% move in X/H? I don't know. That is perhaps a best case scenario and last week almost eliminated the possibility, but for now, I think that it remains in play. Gold and the dollar have experienced incredible moves lately. If those trends continue for another 3 or 4 weeks, we should see gold close to $500 and X/H above recent highs.

I am heavily long and extremely biased, but I remain optimistic for yet another week. Hopefully I can say the same thing next Saturday.

Thanks for all of your excellent posts. I wish I could read faster !!! :o/

Ken