Month: December 2013

CCO update

Hamilton

The usual then –Oct 15, 2012- and now charts;

cco oct 15 2012cco dec 22 2013

We have not looked at this stock for a while. If you had bought when we recommended doing so and did not get stopped out you are still up about 25%. We would step aside right here as it is not clear whether the next big move is up or down. Our bias now is to the downside, particularly if we take a look at the price of the stuff, uranium;

uranium pricecco dec 22 2013 b

In our opinion there was a bubble here and in nearly all cases the decline after the peak retraces right to the starting point or beyond, so $10 or so is entirely within the range of possibilities –(think Thorium, maybe). Also the B-wave is exceptionally clear which means a new low down the road.

Copper, update

Hamilton

The usual then – Oct 2012 – and now charts;

copper s oct 2012copper 2013

EW worked perfectly in predicting an e wave in the triangle and then a thrust down to just under $3 a pound. However our expectation was ultimately for a steeper drop, more towards $2 or less. Maybe even a lot less. In our original count we were looking for an A-B-C type of correction given that the size of the triangle was too large for anything but a B-wave. Now again history seems to be repeating itself as there seems to be another triangle in the making, which would then make the count more of an A-B-C X A-B-C. Whether correct or not, the upshot is that copper is going lower. Easier to see from the big picture;

copper dec 21 b 2013

Never mind the count, this stuff is still too expensive.

F, Ford update.

Hamilton

The usual then – Sept. 2 – and now charts.

f sept 2 2013f dec 20 2013

It stayed up there for about 3 to 4 months but has just recently started to break done a little. We will stay with our original outlook, which is down to about the $8 level or a little deeper. After that there is a very good chance that the stock will rise further but there is no use in anticipating this right now.

G, Goldcorp update

Hamilton

The usual then – Sept. 13, 2013 – and now charts;

g sept 13 2013 lg dec 20 2013

So far, so good. The a and b waves of the triangle are, at least to date, clear 3-wave structures as is required within a triangle. There is the not so minor problem of a slight overlap of waves 2 and 4. Despite rules to the contrary I have found that to be not all that unusual. One thing to watch out for is if this  ( b ) leg simple continues down, straight to the trend line. Provided it does so in 5-waves that could end this entire drop from the $53 highs. For the moment we will stick with our $18 target.