Small point to remember about Cobalt. Most Cobalt is a byproduct...

Small point to remember about Cobalt. Most Cobalt is a byproduct of Nickel and Ni's fortunes are gonna be a function of global growth. So looks to me first of all, pure laterite Ni producers are gonna be under pressure and new proposed Ni-solo projects will be shelved actually possibly giving us a nice buffer for Cobalt. We are a PRIMARY producer of Cobalt which remains on China's strategic list ... ie accumulate but no exports. Uncle Macca will meantime continue to ensure our mining industry's survival with AUD nudging ....... 0.62? 0.54? 0.47? Divine comedy if oxides producer becomes a real standalone money earner hey ??? Lets see.

On The DJIA, the A-3 IDL 7930 was briefly touched on Fri nite with an IDL 7884 lasting a few seconds before then strong tech bounce to above the A-3 same day close low about 8250 on that special day Sep 21 01 (Equinox more or less), the day Wall street opened after its Sep 11 enforced holiday. PLEBS got wiped out first as usual. The next "magnet" target range IF THE TURKEYS DONT COME UP WITH A VIABLE SALVAGE PLAN TOMORROW, is the strong A-5 (A primary) low 7199 - B-2 retrace low circa 7430 from memory ie somewhere inside 7200 - 7400. This range is as megapivotal as the 11300 - 11750 recent range ......... discounting 9500 - 9800 which lasted about 2 days but which as I mused, was the line in the sand when the thought of MEGABEAR was finally realised.

So here we are .......at the Biblical crossroads ....... and we have hedge fund redemptions Oct 15 no doubt severe pressure on the hedge funds from their brokers.

So guess unless the G7 - G20 set up a carte blanche of free credit for the whole system inc brokers and hedge funds, expect another volatile week with some kinda dust settling HOPEFULLY.

Just a thought ........ the bounce from A-3 7930 Sep 21 01 low to A-4 high 10600 only took a few months, before the final crunch down to A-5 7200. Something SIMILAR MAY(?) be in the wings NOW ie, we might get a very strong manufactured suckers bounce in the majors (specs will be dead cats) thru to next March or June .... before C-5 final "C" downer sets in to either a D/B or lower level ........ Carolan deals in halves etc. GORM muses with a DJ 3600 target low for either megabear C or megabear E final market low, tho with latter we gotta keep in mind the old 10% of high rule for the bear market low ........ 1929-32 ........and prob whats happeneing to Japan now 1990/1 - 2011 (Fibo 21 years ???) .... I am on record with a NKY target 8000 soon after 13000 break ... and surprised me how quickly that was achieved .... so my 10% target circa 4000 is still "on" IMO with end a full sinewave ahead of the DJIA .... with likely bounce now before hand.

The fastest and greatest wipeout is the C-3 wave .......and we are in it now, from around 13200 start. The rest is a slower grind ...... tho C-4 bounce and C-5 retest fall are likely to be nervy.

Simple EWs above but add spirals and cosmics and the pix is as clear to me as Neo looking thru the Matrix !!! (IMOOC) PS the moon was looking a bit fuller last nite .... when is it full this week ?

I HOPE we have seen the ultimate CMR lows right at the main SPP / start price. Depends what the US hedgies and HNC will do with us next and what positive news from the North. I'm still a miser with new cash commitments til we get the clear signals.

IMBOOC