Linamar went further than we expected ($27) but we have no reason to change the analysis. On the contrary as the large B-wave up from $2 to $31 progresses perhaps towards an equality relation ship and the double-to level of 14 years ago. Definitely a sell for anyone that looks at risk/reward. See also previous blog.
Again the usual then, Oct 10, 2012, and now charts;
The old chart on the left suggest a price of $15 is a realistic possibility. We are not that far away from that but the count is getting a little confusing, that is, there are to many possibilities so we would not play it from here un till it reaches a low that is a little closer to that target. It may not get there this round if the count in blue is operational, but it will again later on.
Then – Sept 14, 2012 – and now charts, as usual.
See also the previous blog on this stock. We called for a high of, say, $31, so it got to $32, but in the meantime you have saved yourself more than 60% of your money by exiting the position. Silver itself, is down from just under $50 to just above $18, a little over 62%. If a new low in the stock occurs it looks to be a buy for a bounce to at least $16. For non perfectionists you can buy it right away. Platinum PPLT also did exactly as predicted, see same blog.
We now have an absolutely perfect count, the RSI and MACD have turned and just about everyone is calling for the stock to go bankrupt soon.