K, Kinross update

The usual then – 12 March, 2015 – and now charts;

k march 12 2015 sk july 31 2015

Wave 4 took a little longer but otherwise it is tracking the prediction perfectly. The old all time low was at $1.86. Our guess is that it will not go much further. We are assuming that this is a 5th wave. However, it is possible that it is not and that we are looking instead at an irregular b wave. Either way, the next move should be a bounce to, at least, $4.50. The irregular b-wave could drop to about $1.80 if equality between the two legs occurs. It is a double, the choice is yours.

See also our previous blog on how the big picture looks. Here it is again updated. It is on semi-log scale and all three legs, A,B and C will be equal as vectors.

K july 31 2015 b

K, Kinross update

k march 12 2015 lK march 12 2015 b

See also previous blogs on this stock. Earlier we had suggested that a new low should be expected on this stock. However, on second thought that is not necessary, at least not if you use a semi-log scale chart, the one on the right. What we are looking at is a very simple a-b-c down correction from the peak of Mnt. Everest back in 1995/6 at almost $40. For some inexplicable reason the markets love symmetry and consequently you will often find that in any a-b-c the c is equal to the a, either absolutely or as a vector and sometimes all three legs are equal as vectors. In this case that event would occur where the blue line from inception connecting the lows and the red circle with a radius of a, intersect. Should the stock drop to that exact point you have paradise in EW-land. In detail it looks like this;k march 12 2015 s

You work with what you have and here the bounce from the November lows is an unmistakable and perfectly formed a-b-c correction, implying a new low. The bottom of big wave A down in 2000 was at about $1.86 so if a new low is required despite the above comments $1.85 would do the trick.

From a fundamental point of view these guys have made every mistake in the book, one of colossal proportions (7+ billion and counting) so perhaps good times are ahead. They even pay a dividend of 5.4 %, higher than any of our banks. In our opinion this is what is meant with buying low and selling high. All though you do not know where those points are you at least do know that the low is no more than $2 off.  An initial target of $6 is a minimum expectation so that would be a 3x gain. After that $11 is very realistic.

K, Kinross update

The usual then – 24 July 2012 – and now charts;

K jul 2012k april 12 2013

Kinross is still going down and not even near it’s target. Gold could drop to about $1156 in our estimation but not necessarily in sixty dollar chunks every day. As with ABX it is possible that K is completing a 4th wave and could therefore bounce back to about $10 before diving again.