NGQ update

Then and now charts;

NGQ may 2012ngq sept 2012

Then was in May of this year. We would have bought this at about $1.90 following our own advice. Obviously a little too early as the stock did get to $1.60 in July and again in August. Timing is never the strong suit with EW, but even so you would be up about 50% and that does matter. We are out and have no idea where this stock is going. Better yet we have no idea what this company does.

NGQ, NGex Resources.

NGQ may 2012

Never even heard of this company. It is part of the Lundin family trust business and operates independently as an exploration company, somewhere in Chili.

The chart simple looks very promising. Two triangles in a row which should normally take the stock back to $3.10 and perhaps a lot more. The first triangle is most likely a B-wave and the second a 4th wave. This could mean that what is in the chart is a 4th wave A-B-C correction and should by implication lead to a new high some day above $4