Year: 2013

TRQ again

Hamilton

trq aug 14 2013 btrq aug 14 2013

Unfortunately this website’s subscriber fees are such that I cannot afford very detailed charts, only that part which is free. So do not put too much weight on the following.    It looks like we are either in a 4th wave triangle or a b-wave triangle. Given the expectation that the stock could get to almost $10, the 4th wave triangle makes more sense but then it should result in a thrust up not much later than tomorrow. If a b-wave it is hard to see how it will get to that target as $6.75 would seem more appropriate. In any event, be patient.

BB again

Hamilton

bb aug 13 2013

There are quite a few sceptics out there. The Wall Street Journal in it’s blog All Things D; is expressing disbelief and that other great financial paper, the Toronto Star is downright negative and so are most other commentators many of whom loved the stock at $140. In any event we think this should be sold at about $13.04, the 200 day moving average. No doubt it can go a lot higher but $4 on $9 in two weeks would be nice. The RSI will soon move into overbought territory and BNS has upgraded the stock to a buy for a target of $14+. But a good trader always leaves a little on the table for the next guy.

WFC update

Hamilton

wfc aug 13 2013

See also previous blogs. This stock is not content to stop going up until it has reached the most extreme target, which would be around $50. We certainly do not advise waiting for that level to sell. Of course when discounted at zero, everything has an infinite value but don’t count on it.

ABX in detail, update

Hamilton

The usual then – July 22nd – and now charts;

abx 22 july 2013abx aug 12 2013

Following the script rather precisely. Keep in mind, of course, that an a-b-c counter-trend bounce is simple a MINIMUM expectation! Ergo we should get to $21 – $22 before this is over, on $14.5 that represents almost 50%, certainly if you did it in two separate trades as suggested.

As far as going higher than this, it is good to know that another 4th wave of previous degree is at $44. The stock could go there but that is speculation at this time.