If you are still long this stock (from <$18, or so), we would recommend selling here to about $23. This could prove to be real bad advice, but for the moment we are assuming that the stock just completed some degree 4th wave.

Then, April 26th , and now charts;

Try to envision the two charts flowing into each other. On the Tuesday of the 24th of April the stock actually traded with a $17 handle, close enough to our year plus ago target to buy. What is not (yet) clear is if this was actually THE low. If not we should expect an a-b-c rebound as shown in the two above charts. Today’s high at $22.55 is just touching on the gap that was formed on the way down. If you are nervous take the $3 profit. If not , just wait and see if the low was indeed the real one. After all it is hard to imagine a set of circumstances where so much bad news hits a stock in such a short time. Also they did issue debt going out some 30 years at reasonable yields of 5% or so which were well received.

Just a wild guess.

Given the opening gap Monday we hope you did not buy it yet. This looks like an exhaustion gap for this stock and with the stuff down more than $100 over the weekend buying there would not have made much sense. In any event here we are at about $19+, close to our long-term target of $17. It is funny how you can wait for months or even years for something to happen and then when it does, it does it at such a breakneck speed that it catches you by surprise.  Gold bugs are all of a sudden extinct and the bleak news is coming from all sides. This stock was downgraded by more than a handful of analysts that were all cheerleading it up just the day before. It now earns a bank like dividend of 4.17% This, if anything is the time to buy.