LUN,Lundin Mining (see previous blogs)

LUN OCT 2011

We have warned at least twice that this stock was a sell at around $9 or so. The actual high was $9.28. This one had two problems going against it. First a pretty well perfect B-wave (this it had in common with three or four dozen other stocks). Secondly it went to the altar twice but did not quite make it, joining the long list of failed take-overs mergers, BCE, X, POT etc.

The stock is now down roughly 65/70% and it does not look complete even if a nice bounce is in the cards. See also today’s entry. Both are in a fourth wave.