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Market Vectors Gold Miners ETF Message Board

  • kimchow88 kimchow88 May 8, 2012 7:45 PM Flag

    just a thought....

    last time i suggested gdx was in a 5 wave corrective pattern with the current decline being the wave E....hmmm wave E started around $58ish.....ok some dude charmed in that EW is gibberish and gdx will see 100 before 45.....ok that was then...

    now, i feel like a fool too.... this wave E look more like a wave 3/3 jmo. nov decline was 1/3 and jan correction up was 2/3...u get the drift. the current decline since late last august really looks impulsive...ie 5 wave decline.

    imho buying dip in an impulse decline is suicidal....however, if u r lucky enough to catch wave 4/3 and wave 4 up....i guess its all worth the gamble.....lol.

    gl....just some stupid tuesday afternoon thoughts.

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