AEM, Agnico Eagle update

aem feb 16 2013

We did not anticipate the overlap, but otherwise this stock is progressing down according to the script. There may not be overlap if wave 2 was highly irregular, but that is academic now. We will assume that it is going down in a large wedge wave C. Most times the stock does not go to the trend line, but it could. It should , however make a new low, that is below $27. A wild guess right now would be something like $15. If you are long this stock, or any other big ones like ABX or G, as a hedge against inflation it clearly is not working and it does not look like it will in the immediate future. Deflation, not  inflation is the coming problem.