ABX update

The usual then, 1 Nov., 2012, and now charts;

abx nov 2 2012abx mar 8 2013

We did not get the big wave 4 triangle, instead we got a smaller one as wave 4 of 5. As a result the possible target of $24 may be a little too far down. In fact the 5th wave down could be complete at just about any time considering that we are already at $29. A buy somewhere here should be good for a rise of about $10 or 30%. Just under $26 looks to be the sweet spot. If it does rise as expected this may itself be a 4th wave of a higher degree, depending where one assumes the top to be, so stay nimble and do not get bullish on gold for the long term.