Year: 2013

ECA, Encana update.

Hamilton

eca feb 16 2013eca feb 16 2013 s

 

Encana has traced out very nice EW patterns (see previous blogs). It also climbed Mnt.Everest (the stock split since then), and is now coming down the mountain. This is usually more painful than going up, if only for the simple reason that most investors simple will not even contemplate the short side. So where will it stop? Anywhere between here and zero is the correct, but rather useless answer. First and foremost it should make a new low, that is trade below roughly $17. Next , very often, waves 5 and 1 are equal which would suggest about $13. This is also very close to the top of wave 1 on the way up, a fairly common relationship where there is an extended wave. Then there is the trend line at about $9.

There is no way of telling which level might prove to be the low other than monitoring the progress of this 5 wave of C and keeping our eyes glued to the RSI and MACD. For the moment the guess is $13.(see blog of 20 June 2011, below).

eca june 20 2011 b

SSF, you can set your clock to this, see previous blog.

Hamilton

SEAFIELD REPORTS UPDATED METALLURGICAL RESULTS AND HIGH GOLD RECOVERY RATES AT MIRAFLORES, COLOMBIA

Friday, February 15, 2013

Click here to view PDF

Toronto, Ontario, February 15, 2013 – Seafield Resources Ltd. (“Seafield” or “the Company”) (TSX-V: SFF) is pleased to report preliminary metallurgical test results of an extensive metallurgical development program for its gold-silver Miraflores Deposit, Quinchía, Colombia, presently underway at Inspectorate Exploration and Mining Services Ltd. (“Inspectorate”), located in Richmond, BC, Canada. This study program was designed and is being supervised by SRK Consulting in Denver (“SRK”) on behalf of Seafield.

SFF, Seafield Resouces update

Hamilton

sff feb 13 2013

Using a small triangle, the chart projects to a target of   below 8 cents, perhaps 6 cents as suggested previously.  Cash, which was at $3 mln. at the beginning of the year should now be closer to $2 mln. assuming a normal burn rate. Over the next month or two things will become rather desperate as new cash is plentiful everywhere but not in this industry. Certainly not if previous warrant financing vehicles in the past have proven to be less than lucrative. Maybe there will be a new discovery?

HNZ Heinz

Hamilton

hnz feb 14

Yesterday Heinz had a capitalization of about 20 bln. Today it is being bought for about $27 bln. if I got the info correctly. The price is about where the X is in the chart, at $72.50. Not much fun for the 4% of shareholders who are short this stock. Perhaps not fun for Berkshire Hathaway either. This is not exactly buying low. The p/e was at about 19, but the yield a respectable 3.4%. Could it be that big piles of cash are making even the best of investors a little adventuresome?