houston we have a problem, page-55

Dos and Rod

I would love to say I have it worked out like I did in 2003 but I don't.

Probably laziness or senility, lol.

It seems to me that a bounce is due now or by Monday next.

I have a high due about July 27 and a low due about Aug 12.

The best fit is for that Aug date to be marginally lower than a low now.

Any serious break down now seems to suggest more like XJO 4100ish.

I can see an August overall market low as a real possibility but resources still suggest Oct/Nov low.

The big worry is the 40 year cycle top due about now.

That will be a big dampener for about 5 years I believe.

I do think resources can have another spurt up into 2011/12 once we get past Nov.

I do think a serious pullback in BHP and others in quick time is the best medicine for a good price and time extension.

If the pullback in price is limited then I think price just goes sideways for some years.