We have been anticipating a move , possible to as high as $22. On this semi-log scale chart the a-b-c is almost perfectly symmetric and we would exit the stock.
Month: May 2011
SWI, Swisher Hygiene
Exactly a month ago we suggested that the stock could go to $8 or $10 if it went to the 4th wave of previous degree (that is on the way down). It actually went to $11 and then crashed as predicted by about one half or more. Here is the chart:
By having reached the 4th wave of previous degree and then some, the stock may have completed the up move for a good while. However, it also retraced almost perfectly to the bottom of a triangle, losing about 50% and doing so in a very clean a-b-c. This suggest that it could attempt a rise to $8.50 before anything else. The danger is that it has not (yet) reached $4 where it would (temporarily, perhaps) be a buy for a solid rebound. See chart below.
K.WT.C
A quick note to the “recommendation” in my blog a week or so ago concerning these warrants. I am of the opinion that both gold and silver are making bubble highs and should not be bought. But, if you did insist in buying these stocks Kinross stands out as the best value and that one should not be bought, instead the warrant should be considered . You can only lose a single dollar but perhaps gain two or three whereas on K you can lose a dollar many times over.