RE:Nice moveSilentRiver,
What's going on is a Potential Island Bottom on the gold stocks and a confirmed island bottom on MND.TO.
Mandalay Resources and Orvana Minerals are two stocks which have developed rising price channels on MND.TO to GDXJ and ORV.TO to GDXJ ratio charts.
In the case of Mandalay Resources, this stock has an ABC up against the GDXJ with a price target of 0.13 times the GDXJ within the next 5 to 12 months. The GDXJ itself also has an ABC up with price targets ranging from $90 USD to $120 USD implying a price target for Mandalay Resources stock between $11.70 USD and $15.60 USD per share within the next 5-10 months.
In the case of Orvana, this stock also has an ABC up against GDXJ with a price target of 0.02 times the GDXJ within the next 5 to 12 months. Given the aforementioned GDXJ price targets, the short term price target for Orvana is between $1.80 and $2.40 USD per share.
The MND.TO gapped down on November 22 at $2.65 and then went down for 9 trading sessions to $2.00, then did a W pattern in 5 trading days with a retest of the low on December 9. Then took off like a rocket and closed the gap at $2.68 on December 15. So, IMHO, this is a confirmed island bottom with a short term price target of $3.40.
ganndolph