ABX update

The usual then, little more than a month or so ago, and now charts;

abx feb 8 2016abx  mar 12 2016

Looks like we are well on our way towards $23. That is the top of this “diagonal” and I suspect the end of wave A of a much larger A-B-C. That B should drop to about $15 and then the C can take the stock as high as $35. After that it may be game over for the gold stocks, we will see.

   In the mean time keep your eye on the RSI as it is getting right up there. As we said in the Feb. 1 blog, $22 is probable a good exit point – do not forget that golden rule of trading; always leave something on the table for the next guy. You can try to buy it again at about $15. In the mean time you will be able to tell your neighbour that you made a whopping 175% in a little over 1/2 a year. That is 560% per annum compounded, all from a free blog!