Teck.B update

The usual then, December 20, 2016, and now charts;

tck.b dec 20 2016tck june 24 2017

In the text of that blog we had $20 as a target after first rising to about $31.50. It went $3 or $4 higher than that but you should have made more than 30%. Right now there are too many possibilities to make this a good bet.

TCK.B update

The usual then, Nov. 28,2016, and now charts;

tck.b nov 28 2016 stck.b dec 20 2016

Less than a month ago we predicted, that is our EW analysis showed, that much of this wave 1 would be washed away. As it turns out November 28 was the exact date of the high and, so far at least, about 24% has been washed out.

That is normally not enough as first waves tend to have pretty large corrections by virtue of the fact that not everybody is totally convinced that a new bull market has started. Again, normally, one should expect a retracement of at least 62% and in the form of an a-b-c. Considering that the RSI and MACD are almost ready to turn, it is most probable that wave a down is not yet complete but close. A 4th and 5th wave would create a clean 5-wave sequence that would constitute wave a down. Then b up, itself retracing, perhaps, as much as 62%. Then c – always a 5-wave sequence – takes the stock down to about $20 or lower.

Now perhaps none of this will actually happen, but at least you have a blueprint to go by that will tell you when you are right or wrong. What particular part you want to play is entirely up to you and would depend on what degree of fine-tuning you are willing to accept or tolerate, as well as what risks you are prepared to take.

As always ask your broker. He will readily agree that here it is an excellent buy because the recent drop is overdone (never mind the preceding rise). China will need more iron ore pellets now that Trump has won and this company’s management is right up there with the best. It is a good time to offset some tax-loss selling with a few gains and there are only a few days left to do that. Last but not least your broker needs money to put food on the table, certainly at this time of the year.

TCK.B update

tck.b nov 28 2016 btck.b nov 28 2016 s

We got this one just right but got out way too early. If our EW count was correct, and it certainly seemed to be, we completed  a large flat A-B-C at the end of last year. Since then the stock is risen, presumable, in a first wave of a new bull market. The only caveat is that we have never ever seen a rise of this magnitude in such a short time frame, almost 10x in as many months. We are now going vertically.

If there are still believers in the Efficient Market Theory, I suggest they have a chat with the person that sold at $3.64 early January. Clearly Fed action all around the world has created a binary system that does not adhere to the good old premises of yesteryear. If EW itself still applies is an open question but if it does the upcoming wave 2 will wash out most of wave 1.

TCK.B Teck Cominco update.

tck.b sept 14 2016

Teck has been one of our best calls despite the fact that we expected a bigger pull-back in wave 2. Otherwise the target has always been around $26 for a variety of reasons that can be found in previous blogs. Given the very clear equal legs up we would not wait for this level to materialize and would simple sell now for a gain of at least 400/500% for anyone that continued to hold this stock from the low of about $4 as anticipated in earlier blogs.

     At this point we are not at all sure what the count is from the bottom or if it is actually a new bull market, so, when in doubt get out.