Month: June 2012

AGF.B The Mutual Fund Comp. update.

Hamilton

Back in Jan we predicted that this stock should soon lose at least $10 from its price of nearly $17 at the time (see previous blog). Here is the chart;

AGF.B June 2012

Wave Cs should always be sub-dividable into 5 separate wave, however some corrections are double or triple zig-zags and consequently you will not see the 4 waves. In any case we should make a new low below $7 or so before this is over. We could be in 4 of 3 of 3 or 3 might be just about over but then we would need a 4-5. Keep in mind that this thing traded above $40 in its heyday.

NKE, the gym shoes, update

Hamilton

NKE june 2012

This one went at least $15 or more above what looked like a top back in January, but today it is $20 below that peak and dropping. Selling gym shoes at $325 or so is a great business if there are takers. Apparently that is the question that seems to have been answered today in the negative. The beauty of momentum stocks is that  once the momentum stops there is nothing left, very much like the greater fool expectation. Look for a lot lower.

TSX update

Hamilton

TSX june 26 2012 ltTSx june 26 vs 2012

Today we ran up almost two hundred points in the last hour or so, supposedly on rumours with regard to the Eurozone. Whatever. The TSX appears to be well into wave 3 of C. The count shown is just a wild guess. Expect the market to go a little higher tomorrow despite horrendous results from RIM, and then the down trend should resume. The normal 5 wave sequence appear to be breaking down into 1-2.1-2 etc etc 4-5, 4-5. It is hard to know where you are but given the a-b-c counter trends we should go lower, probable much lower.

HNU and GAS

Hamilton

HNU june 26 2012GAS june 26 2012

HNU and GAS have worked out reasonable well lately but the next move is not at all clear. There is a possibility that the stocks are working their way through what might become a triangle. If that were to be the case the surprise would be to the downside. If long we would step aside and monitor the situation un till such time as it clears up. When in doubt, get out.