GBN.V Weekly

By far and away the most authoritative chart is the log scale weekly chart for GBN.V. The monthly chart might not tell any lies, but the rubber hits the road on the weekly chart.

The assumption that massive asymetric risk has been piled on for almost 20 years against this stock through the sale of shares in trade for options on the long dated treasuries futures leaves me the re-think an elliot wave count.

By all respects, this chart breaks some really fundamental rules in terms of elliot wave. But the long-dated treasuries chart also breaks the rules in the same way. So I will demark the chart in elliot wave terms as if it were an inverse correlated chart to the TLT. Full chart available on the stockcharts.com link provided.

We are, after all in the supposed 'investor phase' phase II of the bull market in gold, so I presume that the mining shares must follow. GBN.V's chart looks a lot like the nascent bull market in silver, so that chart can be compared against this one once its multi-year consolidation period was concluded. ( Either that, or we are, in elliot wave terms, in a much larger uptrend to be determined by the price much later.)

supersize: http://www.flickr.com/photos/11747277@N07/6825607805/sizes/l/in/photostream/

stockcharts.com

-F6