Victoria Gold’s Eagle mine site groundwater highly contaminated, Yukon government says
Groundwater flowing from Eagle mine shows signs of high cyanide contamination, though much of the water is being contained on site.
Have you noticed the HUI is making a beeline toward its all-time high? On the chart below, we show an inverse, Bullish Head & Shoulders bottom pattern with an upside target for the HUI of 600ish. Interestingly, should the HUI rise above 525, another larger Head & Shoulders bottom would be confirmed with an upside target of 850ish.
Also below, we show a Bullish inverse Head & Shoulders bottom for Gold with an upside target of 1,325ish. Both the HUI and Gold H&S bottom patterns are confirmed, raising the probability these upside targets are reached.
Both Gold and the HUI Amex Gold Bugs Index remain inside long-term rising trend-channels. Further, from an Elliott Wave perspective, Gold looks to be starting a fifth wave rally. For stocks it is the third wave that usually sees the most dramatic move, but in precious metals, the most dramatic move is usually the fifth wave of a five-wave move. So short-term, we expect Gold to make a strong run here, toward that 1,325ish upside target. We show charts of these Elliott Wave labelings and the rising trend-channels for both the HUI and Gold below.
The Daily, Weekly and Monthly Full Stochastics remain on Buy Signals this weekend.
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Robert McHugh Ph.D. is President and CEO of Main Line Investors, Inc., a registered investment advisor in the Commonwealth of Pennsylvania, and can be reached at www.technicalindicatorindex.com. The statements, opinions, buy and sell signals, and analyses presented in this newsletter are provided as a general information and education service only. Opinions, estimates, buy and sell signals, and probabilities expressed herein constitute the judgment of the author as of the date indicated and are subject to change without notice. The information contained in the newsletter is expressed in good faith, but its accuracy is not guaranteed. Nothing contained in this newsletter is intended to be, nor shall it be construed as, investment advice, nor is it to be relied upon in making any investment or other decision. Prior to making any investment decision, you are advised to consult with your broker, investment advisor or other appropriate tax or financial professional to determine the suitability of any investment. Neither Main Line Investors, Inc. nor Robert D. McHugh, Jr., Ph.D. Editor shall be responsible or have any liability for investment decisions based upon, or the results obtained from, the information provided. Copyright 2010, Main Line Investors, Inc. All Rights Reserved.
“Jesus said to them, “I am the bread of life; he who comes to Me
shall not hunger, and he who believes in Me shall never thirst.
For I have come down from heaven,
For this is the will of My Father, that everyone who beholds
the Son and believes in Him, may have eternal life;
and I Myself will raise him up on the last day.”
John 6: 35, 38, 40
Robert McHugh, Ph.D. is President and Chief Executive Officer of Main Line Investors, Inc., and the proprietor of www.TechnicalIndicatorIndex.com TM. He was the Chief Financial Officer for two of the largest commercial banking corporations in the America for two decades, and has a Doctoral Degree in Finance and a Masters Degree in Business Administration. Dr. McHugh has testified before the U.S. Congress on Federal Reserve matters, and is the author of over a dozen published articles on investment related topics. He has appeared on CBS radio and been quoted in The Wall Street Journal.
In addition to authoring McHugh’s Financial Forecast & Analysis newsletter each week, Dr. McHugh is a Registered Investment Advisor with Main Line Investors, Inc. offering Portfolio Wealth Management Services to Pennsylvania individuals and businesses. Unfortunately, at this time, Dr. McHugh is unable to accept any new clients.
Dr. McHugh is currently writing a book on how to invest in turbulent times, and is also writing a novel on how a manipulated economy causes the next Great Depression in America, rocking our nation’s political system.
