HL, Hecla

hl mar 16 2016

Hecla is one of the few pure silver mining operations. It is always good for pretty wild moves. For some reason we haven’t paid much attention to it but today we noticed that it too is sporting a classic “diagonal” triangle, expanding one. The characteristics are simple that all waves, both up and down are comprised of three wave structure, that is an a-b-c. This , of course, differs from normal impulse waves which are always 5-waves in the main direction and 3-waves in the opposite direction. Also this is the only pattern in which overlap may, and usually does, occur. Alternation, between waves 2 and 4 is often absent.

I have no idea how long the pause in the middle will take or what form it will have, but after it is over we should continue to move towards $4. That is a cool 60% even if it does not go any lower.