Northgate Minerals (NXG) and Agnico Eagle Mines (AEM) Might Have Just Entered A Cyclical Bull Market
Northgate Minerals (NXG, rose 9.16% on 9-12) might have just entered a Cyclical Bull Market on Friday 9-12-08 (waiting for a major 5% follow through buy signal is obviously prudent), see charts one and two at http://stockcharts.com/charts/gallery.html?nxg.
In the second chart note that NXG has completed (in 28 months time, Cyclical Bears happen in a Secular Bull Market) an Elliott Wave ABC down up down pattern since May 2006's Cyclical Bull Market cycle high at 4.80ish. Also, note the very large very bullish inverse spike on 9-12's white (close above the open) candle.
NXG has strong trading volume and a ton of cash, see http://finance.yahoo.com/q/bs?s=NXG&annual. Not a recommendation, do your own due diligence.
I also like Agnico Eagle Mines (AEM, rose a measly 17.137% on Friday 9-12), which appears to have (waiting for a major 5% follow through buy signal is obviously prudent) completed an Elliott Wave ABC down up down pattern (since March 2008) Wave 4 Cyclical Bear Market on 9-11-08, see charts one and two at http://stockcharts.com/charts/gallery.html?aem, which is Wave 4 down of it's Secular Bull Market that began in 1998, see http://finance.yahoo.com/q/ta?s=aem&t=my&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=.
AEM has strong trading volume and a ton of cash, see http://finance.yahoo.com/q/bs?s=AEM&annual. Not a recommendation, do your own due diligence.
.......http://www.JoeFRocks.com/
In the second chart note that NXG has completed (in 28 months time, Cyclical Bears happen in a Secular Bull Market) an Elliott Wave ABC down up down pattern since May 2006's Cyclical Bull Market cycle high at 4.80ish. Also, note the very large very bullish inverse spike on 9-12's white (close above the open) candle.
NXG has strong trading volume and a ton of cash, see http://finance.yahoo.com/q/bs?s=NXG&annual. Not a recommendation, do your own due diligence.
I also like Agnico Eagle Mines (AEM, rose a measly 17.137% on Friday 9-12), which appears to have (waiting for a major 5% follow through buy signal is obviously prudent) completed an Elliott Wave ABC down up down pattern (since March 2008) Wave 4 Cyclical Bear Market on 9-11-08, see charts one and two at http://stockcharts.com/charts/gallery.html?aem, which is Wave 4 down of it's Secular Bull Market that began in 1998, see http://finance.yahoo.com/q/ta?s=aem&t=my&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=.
AEM has strong trading volume and a ton of cash, see http://finance.yahoo.com/q/bs?s=AEM&annual. Not a recommendation, do your own due diligence.
.......http://www.JoeFRocks.com/
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, XAU
posted by Joe Ferrazzano at
11:31 PM
2 Comments:
North American Palladium (PAL) appears to have, on Thursday 9-11-08 (+19.60% gain on 880,025 shares traded on Friday 9-12), completed an Elliott Wave ABC down up down Cyclical Bear Market since late March 2006. Not a recommendation, do your own due diligence.
By
Joe Ferrazzano, at 1:35 PM
Notice that PAL had, if it bottomed on 9-11-08, a nearly two and a half year Cyclical Bear Market within a Secular Bull Market. Cyclical Bears happen within a Secular Bull Market. Ignore the village idiots and con artists masquerading as gold analysts.
By
Joe Ferrazzano, at 1:45 PM
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