August 19, 2010 Gold could = might make one more top. This aspect is unclear to me right now. If it doesn't, then of course, June 20, 2010 is the top. I will update this aspect if/when it clears up. But, that a massive bearmarket is coming or has already come since the June 2010 top, is quite evident to me. Gold long-term bearmarket target = $250, possibly lower, the lower target will be provided if necessary, when we get there.
Knowing ET quite well by now, here is how the future re: Gold will play out. As Gold drops like a stone, ET will at first be paralyzed akin to a deer in the headlights syndrome, transfixed ... then, they'll swing the other way and their hatred of Gold will grow progressively greater for months and months. When gold nears $250, they will be in such a high level of contempt for the metal that they would shoot anyone who suggests, BUY. That is why, when Gold gets to $250, I will go into their midst and say "bah ramm u - bytenee oohah" the first 3 words are the code, the last 2 mean BUY GOLD. The code allows a lion to befriend them - and they will listen to such a lion. Then after acceptance, the final message will be, "kakhahh nee 3 syson kooh le tee tow poh sece ka dam pe nit toh" meaning, " if you fck around with the 3-minute chart, I'll whack you over the head with a croc's tail"
A 4H close < 1218 might give me more understanding of what's going on. It could also be the untimate SHORT entry for the next 2-?? years. So, any realtime feelers are just that, probes so I can get some further insight ..... You see, I haven't abandoned the possibility that gold's top is the June 2010 high. If June was the top, then this rise since July 28, 2010 is a wave 2. So if that 4H break below 1218 is a monster, wave 3 might then already be underway. So there are a few ifffffs. I'll plod along till I'm in a position to take the big swing. Then I'll fire the shot with maximum power. Professor Charles Bassetti is invited to compete.
I have to agree with mindtrade on this one. Not sure what the OPs timeframe for $250 is, but I would love to buy St. Gauden's coins based on $250 gold again! JJacksET4
deadbroke: I think you are getting carried away with the deflation scenario ala Prechter. Gold has become an alternative currency to fiat until the current conditions change. Keep posting as some of this is interesting.
Don't eva eva lyshen to shome1 who kalled a DOW top zat neva krystalized. B'tween wayve III an' IV iiz ze haph wey poynte! Pplentie maure uppsy do goze! Un equivelent wayve II-III mush tech playce ad wayve IV-V....