IMG, IamGold update from a week ago

img jan 28 2013

has, or is about to complete 5 waves down. If correct it should trade back up to about $12 which would constitute a 40+% gain. This may be just the first leg of an a-b-c down in a double zig-zag. That would be very negative longer term but there is a great intervening opportunity and there are other counts as well that would be even more bullish (this could be a 5th wave all the way from the Sept. 2011 high, which would then target about $16.50, close to a double). A buy but use a stop-loss one dollar below the buy! The p/e is about 8 and the yield, unusual for gold miners, about 3%.

Take a good look at the RSI. It seems to be repeating what it did back in May to June last year. That led to a rebound of $6 + and the one coming up is of a larger degree if this is the end of a full 5 waves down. See also OSK, Osisko, looks pretty much the same.