BH! Like your reasoning but do you know anything about the...

BH! Like your reasoning but do you know anything about the Elliot Wave chart reading, because people using that charting are predicting sub 876 numbers for gold - personally, I'd hate to see it, but it might be possible if it doesn't hold around these levels. Physical buying has picked up in Asia I read, so that is good.

However, getting back to the Elliot Wave - any thoughts or experience with this? Some say that the wave up to 980, having surpassed it to reach 1030, means that the declines can be down around 880-890, instead of 820-840, but I don't know.

Jim Sinclair prefers the Fibonacci system and seems convinced that we've worked through the 800's and with so much stuff happening in the financial system, he seems to see the same old would be bulls with their newsletters, predicting a further major decline around where the market might be bottoming - I sure hope gold is bottoming around these levels as they've been tested a few times. I remember this massive bull vs bear fight at the 38.2% level when it first dropped in March, at that time around 880-890. Seems we have it around 895-910 now.

Anyway, curious on your thoughts as you seem to know a bit about charts.
Thommo