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GFI

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TJH
Frequent Contributor
Elliott Wave Theory calls for one final plunge to take out the prior low of R114.02. The end of the correction is near, but the final wave is usually devasting. Big volume and plunging price. What can I say? It's not over till its over. And it's not over. There is a possibility that it will not happen in which case we hover around R117. Yes it hasn't gone according to script. Maybe this is the final bullish move to draw everyone in? If you want to call me an idiot thats fine. I can take it. If you make a statement like this you are always in for a hard time. And it was a big call. I still stand by it. And if the price moves up again I will sell into it.
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15 REPLIES 15
Not applicable
yeah ask Roffey about Elliot waves ...its always the final plunge before the rally....err maybe that wasnt the final plunge I missed wave 5...this is now really the final plunge...err no actually I missed the fact that this was a 7 wave elliot wave....
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SimonPB
Valued Contributor
TJH, issue is you arrive calling for a crash on GFI. You do zero to support your theory except to say - believe me (not going to happen without at least a hint of your logic). Anyways, a modest 5% drop is hardly a crash.
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TJH
Frequent Contributor
Roffey is useless at Elliott waves. Fine for the big picture stuff. Most people can't use EW because they missing a key that was never written in the Prechter's book. As far as I know no one knows it. Thats why I can make seemingly arrogant calls. The problem is believing what I see. That's why I am forced to sell at R119. I must have discipline.
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john_1
Super Contributor
Ah! well that does explain it!
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asylum
Super Contributor
TJH thank you at last we know what you base your call on thats your oppinion and thats great, please in future when making a claim add the substance at the same time.
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TJH
Frequent Contributor
EWT is usually the domain of drunks. So I'm told. If you witnessed the last GFI crash (June 2006) I think they dropped GFI from R113 to R100. Someone who bought at the opening would have panicked. The same scene is again presented here.
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topgun
Super Contributor
I think the key learning from this is that you must always first test and refine your product in your own laboratory before going to market....well, at least the forum had some fun on this fine day!
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saash
Super Contributor
Please tell me some more about your Elliot Wave theory. I find this thing very difficult to read.
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Not applicable
TJH, Elliot wave hypothesis is intruiging. Do you see a diagonal triangle, zig zag, wave extension, double wave, flat, failure, retracement, irregular, combination.. or one of the retracements 50%, 25%, 33%, 67%, 75% or some other Magical nummer that will, no doubt, validate any possible outcome into the methodology? I see a bullish falling wedge... Then again I would never touch GFI to start with.
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Not applicable
Anyone that makes predictions as to what WILL happen on any share and the WILL happen is up or down more than 10% in 1day better have a lot of explaining of how he or she got to that conclusion or ESE dont feel that u r victimized or belittled by this forum as a lot of these members have years of experience and do not follow Prophets
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TJH
Frequent Contributor
zig-zag correction in this final wave.Some of the waves extended because the underlying trend is very powerful. I'm not sure how this final wave will emerge ie 5th wave failure. I hope not. I would love to pick up GFI lower than R114. The third wave was related to the 4th wave. I've yet to find out how the 5th wave is related to the prior waves. Not sure. We will soon find out. We should see an exhaustion gap(?) The 3hr movie looks more like a mini-series. We might continue this on Monday.
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TJH
Frequent Contributor
Do an internet search on EWT. Lot of useful info. Or order the book Elliott Wave Principle by Frost and Prechter from Abe Books.com. I think I paid 7 dollars. Precher is still a bear on gold!!
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Wizard
Super Contributor
I would love to see panic like June last year, but I don't think it's going to happen this time round...GFI> 100 DRD at 4 or there about
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Not applicable
zig zag shmig zag. It's a irregular combination retracement failure with strong 67% undercurrents of bollocks.
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Not applicable
Elliot wave theory is same thing as just predicting the future. The outcome will tell you if your prediction was wrong or right. You can predict the future right some of the time, not all the time.
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