![]() It would be through following this same mental prescription that Jim Sloman would soon uncover the Delta time frames. ![]() Third, learn how to harness the hidden power of your subconscious mind to find the answer. First, identify the right question to ask. Einstein once explained that he was able to unleash his amazing creativity by following a relatively simple mental process. Jim decided to follow a path of reasoning not unlike the great 20th century scientist Albert Einstein. Despite the fact that the traders Jim worked beside unequivocally held to markets being "random" and the "random walk theory", he was unable to embrace the precept that markets were in fact completely random. Still, he felt intuitively that there must be some principle, some basis that transcended the innate functioning of all markets. This story is about one man, working alone, who was driven to find an answer to a long debated question "Is there an underlying order to all markets?" Working in Chicago in the fall of 1983 in the commodities industry, Jim Sloman decided it was time to focus on other pursuits. What is Delta? The discovery of The Delta Phenomenon as it relates to markets can be best captured by way of a story. ![]() The current weekly charts for crude oil, gold, the HUI, and silver are posted below. Because of this fact, an explanation of how the Delta turning points were discovered is called for. For those interested and using the wave theory, this knowledge is invaluable. It is a little known fact that every Elliott wave of any size terminates at a Delta turning point. The HUI will be starting a third of a third wave and it should be substantially greater than the previous rise." ![]() That was a 243% rise in approximately 12 months. The previous rise in the HUI went from 165 to 401. ![]() Approximately 6 months have elapsed since we last saw new highs in the precious metals complex. The investment account is 100% committed and the trading account is 50% committed. When this decline appears to be ending I will be issuing a buy signal for the balance of funds in the trading account. We are fast approaching the start of the most dynamic part of this precious metals bull market since it started 6 years ago. The types of corrections that are taking place do not require new lows in order to be complete. "The HUI, gold, and silver will experience one more decline lasting approximately 3 to 6 weeks before the correction that started in May 2006 will be over. ![]()
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February 2023
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