IMG Jan 27, 2010

Gold stocks may be very risky at this time, especially the smaller ones or  the types like Hecla HL, this is because the entire up-move from 2001 may actually be a B-wave rather than a new bull market. See below;

IMG Jan 27 2010

IMG Jan 27 2010 2

Now if you were lucky enough to buy this in 2001 (we recommended Hecla ! ), or at the recent low of $3 obviously you should have sold at about $16 after the triangle thrust. Having failed to do so there there is now a distinct problem that this one is going a lot lower, certainly if we go under $12 and negate the possibility of this A-B- still morphing into an impulse wave up. My advice. run for the hills.