Futures Market - Silver Highlight #8
Price rally ends in accordance with cycle projections presented in
"The 1998-99 $upertrader's Book of Linear Time Cycles" and seasonal tendencies
listed in "The 1998 $upertrader's Almanac - 2nd Half Edition".
(COMMENT #s 714, 747)
UPDATED 19980929
COMMENT 1998-714
1. Finally, if we want to focus on gaps, the most important made today was in the market
on page 361 of "The 1998-99 $upertrader's Book of Linear Time Cycles" and on
page 308 of "The 1998 $upertrader's Almanac - 2nd Half Edition".
2. This gap is important because of where price halted it's advance today.
3. A down trendline drawn off the 980319 and 980529 lows and the down channel formed off
the February high of the year marked today's high.
4. The observation is that this is an opportune level at which to tighten stops.
5. If stopped out and momentum reasserts itself, the market can always be reentered.
6. Now go back to both the seasonals and cycles shown in the books in the above referenced
pages.
7. Hmmmm . . .
UPDATED 19981013
COMMENT 1998-747
1. To further this discussion . . .
2. Turn to pages 359 and 361 in "The 1998-99 $upertrader's Book of Linear Time
Cycles".
3. Now glance at page 308 in "The 1998 $upertrader's Almanac".
4. This market peaked 2 days later and just a tad above the gap and down channel trendline
cited in COMMENT # 714 of 980929.
5. The market has since fallen sharply in accordance with the seasonals and cycles listed
in the books and cited in COMMENT # 714.
6. You may recall that the low occurred on 980831 as the chart in COMMENT # 626 was
posted.
7. The chart is reproduced again at the end of this COMMENT.
8. The "How It Came Out" price action since the 980831 low may be seen to the
right of the last vertical line.
9. Such a tepid reaction to the upside is not the normal expectation.
10. It would be very negative were this market to break the 980831 low.
11. This market has declined, however, as inventories have decreased to the low 70 million
ounce level and the dollar has sharply collapsed.
12. The PATTERN suggests an "A-B-C" correction to the upside which is already
complete and which CONFIRMS the price action in the CRB Index as reviewed yesterday in
COMMENT # 744.
13. This market has thus become one of the most important on the board.
14. We've had a lot of $ 3,000 moves over the last month or so.
15. This market is another such example.
16. Over $ 4,000 up off the low, over $ 3,000 down so far versus $ 1,500 or so margin
requirement.
17. All from information listed in a few books many months ago.
18. Should certainly pay for more than a few almanacs over the next several years or so!
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