Hamilton's E-Wave Analysis

IMG Jan 27, 2010

Gold stocks may be very risky at this time, especially the smaller ones orĀ  the types like Hecla HL, this is because the entire up-move from 2001 may actually be a B-wave rather than a new bull market. See below;

Now if you were lucky enough to buy this in 2001 (we recommended Hecla ! ), or at the recent low of $3 obviously you should have sold at about $16 after the triangle thrust. Having failed to do so there there is now a distinct problem that this one is going a lot lower, certainly if we go under $12 and negate the possibility of this A-B-C still morphing into an impulse wave up. My advice. run for the hills.