See also all previous blogs. This is one of our best calls, however there was one big mistake and that is that we expected a much deeper pullback for wave B. It just did not happen, perhaps because the world was in a hurry to get back into what they had sold only a few months ago. We are now just a few dollars shy of our target and would be inclined to sell if we still owned this stock.
Wave C is now equal to A and has taken on the shape of a diagonal, a pattern that is usually reversed to its starting point or below. There is no rational reason why this stock should have appreciated almost 4-fold with gold at about $1360 or so. At this price gold should be well above $1500 or higher particularly in an environment where the US$ is rising. A sell.