Elliott Wave 5.0 "Reboot"

Wednesday, March 30, 2016

HUI Next Leg Up Still To Come?

With gold stocks making such a fast run up  it is difficult to allow such a long first wave.
For now I will take it, but most of the time it is warning that we could still be in a "C" wave bull market.  

The thing is, every contrarian wants to milk this run for its maximum potential and you don't want to sell out just before another strong leg up. I don't have enough fingers and toes to count the amount of times that I have sold out too early.   

Now if gold stock insider selling becomes too rampant across many gold stocks then we want to start changing our mind.  After all, people selling for their family's education get's a bit old and worn out, but it works.  You are not going to hear the insiders saying, "Yup, this is it, as gold stocks are too high and we are selling due to high valuations", besides that would be far too easy.  

Short term I'm very bullish, but my 4th wave bottom is the cut off point.    

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