Good to see both JS and Steve Saville agree on the quality juniors.

Grin, the chart at the link may be from one of your posts; not sure.

stockcharts.com/h-sc/ui?s=&p=W&yr=7&mn=0&dy=0&id=p71404943119&a=87797485&listNum=16

Let’s look at some patterns there.   The double bottom in 2001 & 2002 are followed by a good but smaller rise and fall from late 2002. This was followed by a good rise into spring 2004.  This is the pattern.

From summer 2004 to spring 2005 was the next small rise, which was followed by the large rise from summer 2005 to early 2006.  From the low that followed we can see three more lows that ended a little above 2300.  The last two appear to be the end of the ’small rise’ that followed the 2006 intermediate top.

Let’s look at numbers.  From the 2002 low of about 887 to the 2003 high of 1933 is a rise of about 1046; a rise by a factor of almost 2.2 [2.2 x 887 = 1951]

From the 2005 low of about 1587 to the 2006 high of about 3310 is 1723; this is a rise by a factor of about 1.92 [1.92 x 1723 = 3308.16]  If we use the lower 2005 low of about 1450 we see a rise of 1860; a rise by a factor of about 2.28 [2.28 x 1450 = 3306]

Using the 2007 low of 2331 rising by a factor of 2.2 we see a price objective of 5128.  A rise by a factor of about 2.3 gives a price objective of about 5361.

Some of you might remember that this was the method that I used to calculate the price objective of the HUI from the 112 low when it was at about 121 to suggest the top would be about 258.  It hit 258 that November.

Cheers, TQ