GBN.V Monthly

I had said that the monthly chart never lies. But with capricious pricing seen in the stock, and a complete absence of controls on how stocks, especially how gold mining stocks are sold indiscriminately against a hedged position, the monthly chart shows a slump where there should have been a strong reversal going into October.

Is this company solely a vehicle for the expression of the megalomania of market participants or just one man? Surely it has to be an investment vehicle for producing gold, and thereby a yield for shareholders.

There's an obvious conflict of interest at work, and this company has gotten very far from the beaten track. You want to have an example of somebody lost in the woods, just watch Robson Garden's presentation to shareholders.

Time is not on the side of this management, because this charade cannot be kept up. They have grossly mis-judged this market, because they believe they can carry on as before.

supersize:

http://www.flickr.com/photos/11747277@N07/8149076928/sizes/l/in/photostream/

http://scharts.co/P5qOWY

Gold Weekly

The weekly gold chart is showing a correction to the 34-week EMA. If you look at price rises in gold in previous analogous corrections, prices always tested the 34-week EMA.

Elliot Wave count is meant to conform with eWave. The eWave count has been correct so far, though gold prices have lagged the chart for months.

Gold prices remained aloft from the 34-week EMA only during brief parabolic phases.

Nothing will move at all until the U.S. federal election is concluded.

supersize:

http://www.flickr.com/photos/11747277@N07/8149165733/sizes/l/in/photostream/

http://scharts.co/Ovxxud

-F6