Basic Elliot Wave theory signalled a buy at 250,although i'm not a whizz at it like R.J.Prechter,i have found a simple mathematical way of determining the FUNDAMENTAL value of gold,also works well as to determining peaks and [hopefully not ]the troughs of the Footsie .This may be useful for playing for the long term.I'm deeply suspicious of indicies,it seems that if a share in the index goes down,they then replace it with one thats going up!?!?.Same as the basket of goodies they use to calculate the inflation rate,they replace them with something else.I always thought that mathematics was a precise science,then along comes creative accounting!!!!.