AEM, Agnico Eagle

AEM l feb 2012

Agnico might well be a buy at these levels. It is only a dollar or two away from having lost 62% of its value (about $33). There are two possible counts, one has an a-b-c finishing at about these levels and the rest is all up. The other, a larger irregular A-B-C that now needs 5 waves down in C. in that case we are in wave 4 that could easily take us up about $10 at least before 5 starts. So in both scenarios we should get reasonable upside. In detail:

aem s feb 2012

The wave 4 could go as high as $52. The stock is trading at levels where it was in 1986, gold itself is trading at levels triple that at least. By the way, I do not mean to convey the impression that I like gold, just this stock, just for a little while.