Theres still a coupla chart levels below that as well but yeah nervousness as COSMICS seem to be taking over broader markets again ...... right on the solstice.
Looking to replace the 50% I sold into the rise and freecarry the core lot plus more, ahead of further trade parcels later.
Yanks are trying to con us again into supporting their USDX / Bonds hence they have to weaken the equity markets in a controlled fashion (hopefully) to promote the transfer of the world's cash into US treasuries so they can keep filling the expanding black holes of their economy ..... GORM theory haha.
So yeah "b" retrace in the a-b-c of primary rally wave D of the secular megabear A-B-C-D-E which began in y2000 with a likely useby date circa 2013 (Fibo 13 years later) ... again personal GORM theory which is panning out on schedule for mine.
(GORM = Grand Olympian Road Map I posted on July 1 y2005 on CMR thread if they let u go back far enough).
Having said that, I stick to my guns on only 2 sector plays over next coupla years ..... gold and uraniums ...... trying to pick the eyes out of each with a core+ trading stratgey to trade smaller parcels ongoing to progressively add to and free-carry increasing core possies seeking the cyclic bull legs ahead of the current secular megaBULLS in Gold and Uranium, prob out to a y2015 optimum time target.
So I dont mind if WHE comes back to the breakout line so I can patiently and quietly build up my core possie during this "b" leg retrace ....... DJIA 8250, 7950, 7400, or 7200 pivotal targets ....... I suspect / hope we will see a higher low than Mar 6500 so can set it up for a "c" leg off an inverse H+S to GORM megapivot taget zone DJIA 9500 - 9800 by either Sep or next Mar soltice time targets .... that should be "it" til reality sets in again with broader markets / global economy.
Gold is a fiat currency hedge and we're gonna need it once the yank con reaches its useby date and we move from deflation to inflation (not quite yet), and Uranium is depression proof as nuke power stations are on a road to doubling in a background of decreasing U-supply .... DYNAMITE macros for y2011 - 15 time period I suspect will see Jimmy Dine's "U-boom will make the internet boom look like kinda" call.
So yeah surfing the waves till we get to our tsunamis ahead.
WHE should be a major beneficiary of such from about 2011 onwards and everythuing til then is IMO a time for patient net accumulation. Just hope the Board is up to meeting the Olympian qualities necessary to make this U-boat seaworthy and capable of surfing the big'uns ahead.
Hungary sovereign risk remains a concern otherwise would have a bit more on it already.
Biased opinion only as always ......... IMBOOC
SO4 Price at posting:
24.0¢ Sentiment: LT Buy Disclosure: Held
