Hi pilotfish,

From your posting, I think u had grossly misunderstood me.

I m on the same wavelegth as u in the sense tat I too agree undisputedly with u tat Midas is on a bull run as my chart projected ( the dotted rectangle on the right, a projected bull run, which is the mirror image, symmetry, of the dotted rectangle on the left but which was previously a bear run).

Also, my point tat history repeats, wat I mean is "human nature" - greed n fear, now the mkt is repeating the greed, I m not saying tat current situation will be a repeat of the great depression. 

pilotfish      ( Date: 06-Jun-2009 02:35) Posted: Hi richtan Thanks for the research post. Sometime it screw up the show, e.g. "SELL COSCO" One more comment on your findings, one commom mistake is to compare a pattern between a downtrend and an uptrend. (I used to do that ) History repeat Comparing the great depression and the current suituation of DOW, even though they look alike but they are different if you take a closer look. Back to our topic: I agree with you wave analysis n chart pattern analysis are both very subjective. That's why I don't use them alone. Due to the limited data and existence of the counter A possible alternative wave count (no MA guided) On the Bull side (blue arrow) the 5 waves is the final wave. On the bear side the red arrow is the first waves of the zigzag corrective mode. The dotted blue arrow, the second uncomplete wave lasting about 3 years or more than 3 years. Then the third implusive down wave lasting less than 2 years. End up the counter become a penny stock or burst. Is it possible? Yes but unlikely base on foundamental analysis of the company. An impossible alternative wave count (no MA guided) On the Bull side (blue arrow) the 5 waves is the final wave. On the bear side an uncompleted first wave of the correction mode (no sign of a zigzag, flat or triangle) Subwave 1 completed (5 waves), Subwave 2 about 3 years, subwave 3 about a.5 years--> counter become penny stock or burst. Again posible or not? NO .... Why, let you guess.... Either way the counter is still a bull run. Normally, at the begining of a bull run people are unaware (got burnt during the bear trend). Economy is still in bad shape but slight improvement is seen. People offen ask unemployment rate so high, problem still there, you call bull. Well look at GM, thinks about it ... Just my view, for sharing and comment (Not an inducement to trade).

Many thanks for your wave analysis.

By the way, both wave analysis n chart pattern analysis are both very subjective.

Chart patterns, unlike SARS or virus (it is a science, can be scientifically analysed n stopped), are collectively human greed n fear n throughout history, "greed n fear" tends to repeat, tats why we have boom n bust followed by boom n again bust, so at times it may repeat, though not exactly to the dot but generally the major trends.

In any case, elliot wave analysis is a very complex art and not an exact science & subject to individual interpretation n always there should be an alternative wave count.

Even with an individual alternative wave counts, another elliot wave analyst will probably come out with another different wave counts but no harm to take into consideration as a mental map & preparation of such possibilities occuring.

By the way, do u have an alternative wave count n care to share. Thnks in advance.

pilotfish      ( Date: 05-Jun-2009 16:24) Posted: Hi richtan Thanks for your post. You did a lot of hard work and thanks for sharing. Technically speaking I don't think history will repeat in stock market. Look at the current H1N1 and the previus SARS. If history repeated counteract actions will be done to aviod further damage. Below is my finding. I am using waves analysis and some TA. TA alone will give wrong indication if use incorrectly. Previous post I mentioned the bull run was in May, got mix up with other stock. Should be sometime Oct 2008. Apologize. Positive divergence occur at 2nd and 3 rd bottom. 3 rd bottom in Oct 2008 was a recorded low.  4th low occurred in March 2009 was higher. The low in Apr 2009 was higher than the previous low. The next low will be higher than the recent one. We will not see a low lower than the recorded low. Looking at the time cycle: The bear cycle was a bit long. Under wave analysis a very fierce Zigzag correction with extension was noted which ended in Oct 2008. From the above findings, I'm quite confidence that a bull run has been in force for this counter though there will be correction ahead. Furthermore, base on the company model. It is very worth for long term investment. Just my view (Not an inducement to trade).

Thanks you.

In fact the bull run for this counter had began. (Not bear market rally)

If you can hold that's great.

Base on the underlying bussinesses of the company it is definitely worth for long term investment.

(Not an inducement to trade).

It bounced. I mentioned the strong resistance from the previous high. Today upwards momentum is seen. This counter is reverting into a uptrent in May. Once it penetrate the resistance, it will go all the way to a new high.

Well DOW has penetrated the strong resistance at 85xx pts. It will be heading to a new high with lots of resistance...

Well just my view ...

That is why need more investor to support the price up. Have been buying up since last yr from 28 cents... During the crisis Midas perform strongly.. When the market turn bullish... It slow down the rate on increase.... Compare to property counter it is a laggard..

Good thing are like wine got to wait.. Midas tend to shoot up sudden out of the blue.. and not on a daily basis... Patience.. $1.00 is my target for this yr.. Still accumulating...