IVN , Ivanhoe

This stock has, as expected, done exceptionally well. In the last comment , done in Febr. of this year, I mentioned a second leg down was required before the stock would go up again. We did get that second leg down as part of an irregular and did make new lows but not quite to the level of $11 as it only managed $13. Did not look at it again until today;

ivn sept 24 2010

The is right up there with the MACD and most importantly we are at the trend-line. This COULD be 5 waves up but the last leg may still extend after a pause. To be prudent I would sell here even recognizing that the stock could still go much higher. As the longer term chart indicates, these mining stocks have their season,see below.

ivn sept 24 2010 2