Monthly Chart

The monthly chart demonstrates how the elliot wave count sets up, but the 10-year weekly chart will give you major clarity on what is going on with the stock, that perhaps that a 5-wave extension is building up in the share price. (in elliot wave speak.)

The macro-wave is very highly likely to be a three wave extension, with an as-yet indeterminate target.

supersize: http://www.flickr.com/photos/11747277@N07/5396227021/sizes/l/in/photostream/

stockcharts.com

Weekly Chart

The weekly log scale chart drastically changes the picture, with the exception that the wave count is made more available and its format. We probably don't have a three wave extension here on the weekly chart, building up after the last year, since the up ward trend is defined by the peaks of the wave.

The minimum correction here would be the 34-week EMA, which is outlined by the red arrow, however there are clearly 3 possibilities. One more thing about the bottoms of the wave, once they happen, they define the channel, that the tops are outlining the upper limits so far:

supersize: http://www.flickr.com/photos/11747277@N07/5396825004/sizes/l/in/photostream/

stockcharts.com

BNN.ca

Eric Sprott comments on precious metals:

http://www.bnn.ca/News/2011/1/24/Precious-metals-pullback-not-concerning-Sprott.aspx

Motley Fool Discusses The Ideal Gold Stock

Motley Fool Article

GORO Web Page

They pay DIVIDENDS!!!

http://www.goldresourcecorp.com/

GBN.V Undervalued Vs. Gold

Now put in OSK.TO or GORO vs. gold, this chart suggests you sell your ideal, overvalued gold mining stock and buy GBN.V.

stockcharts.com

WSJ article

Gold watchers may believe that they may have found their scapegoat in the one trader that managed to lose some $820 million in futures or derivatives contracts, but had this man taken physical delivery instead of rolling over the bet, perhaps he would have saved his bacon. You have to wonder how well he would do at poker should he be betting with gold bullion on the table.

The Wall St. Journal

-F6