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.

WFI, Waterfurnace update

Hamilton

wfi dec 7 2012wfi dec 17 2013

The usual then and now charts, then being a year ago (Dec 7, 2012). It was indeed a buy and it did double from that point. It has gone up in 5-waves and therefore should drop , at least, to about $20. After that it remains to be seen if a new bull market had started –possible a wave 5 if we got the count wrong – or part of a complex correction. We have no idea and are therefore out.

RY update # 49

Hamilton

ry dec 14 2013 bigry dec 14 2013 b

It did not stop precisely at the trend-line, but then a slight throw-over is pretty normal. So here we are, 5 waves up in C of the larger A-B-C that is, at least as far as we can tell , an unmistakeable B-wave. That B-wave is then most likely the B in a very large 7 to 10 year irregular flat. The C is supposed to drop below the low point of the A, which is at about $26. I am quite sure that there is not a single reader of this blog that will put any credence into this prediction  but that just happens to be the beauty of it all.

LVS, Las Vegas Sands Corp.

Hamilton

lvs

Every self-respecting conservative and well diversified portfolio should have at least a solid chunk of LVS in it. Today, Dec. 13 of 2013 is as good a day as any to have a good look at this stock. Like so many others it appears close to completing an A-B-C rebound from the lows of almost zero. It is also quickly approaching the 62% Fibo  level which often defines retracement levels. It trades at a very modest p/e of 29+ X. We think it is high time to take your chips off the table.