"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Friday, November 26, 2010

A-B-C down in the gold stocks after all? Really?

NFTRH111 noted "watch for a 'C' leg down of a theoretical A-B-C correction" in the precious metals complex along with the likelihood of a USD 'C' up to target.  Boink!  One 'C' leg comin' up.

Interestingly, a majority of my holdings are either green or around break even today - a net green day so far.  This means either a) the sellers are going to get down to business and tank the bull case next week or b) this is a shakeout and finalization of an expected corrective event before new bull action.

Don't you just love the markets?