The usual then, 1 Nov., 2012, and now charts;

We did not get the big wave 4 triangle, instead we got a smaller one as wave 4 of 5. As a result the possible target of $24 may be a little too far down. In fact the 5th wave down could be complete at just about any time considering that we are already at $29. A buy somewhere here should be good for a rise of about $10 or 30%. Just under $26 looks to be the sweet spot. If it does rise as expected this may itself be a 4th wave of a higher degree, depending where one assumes the top to be, so stay nimble and do not get bullish on gold for the long term.

This one followed our script nicely, exceeding our upwards target by just a few dollars but already it is back in the doghouse. Assuming we are in a downward c wave we should get a clear 5 wave subdivision. The count shown provides that. If correct $24 would be a realistic target for starters.

May go a little higher but after unlimited bond buying by the Fed, a rate drop by the Riks- bank , another trillion yuan for infrastructure improvements , what more can you ask for. Take the profit and run.

Then (July 26 2012) and now;

Whether or not the count was correct remains to be seen, certainly some parts of it were. Less than a month ago we actually recommended this stock as a buy, despite our longer term misgivings about both this particular company and gold in general in a deflationary environment. At the time the stock was roughly $32 (the low $31.18). The expectation $42. Right now it is at $37. Continue to look for higher levels but remember (see previous blogs) that a reading above $42 is stretching it a bit. We would sell at about $40, or a 25% gain in, probable, a little over a month.