Today's update suggests that the model is basically intact with a dip just below $1 in store for wave 5 down. Note that blue 4 above never materialized and instead it turned into a falling wedge so I will count this as w3. I just picked up some shares at $1.12 because while JNUG has moved up strongly today, DRD has not. So basically I took my JNUG winnings and piled them into DRD with stops at $1.09. I think the odds should be in my favor even betting countertrend here because black 2 was sideways and thus by alternation black 4 should be vee. Time will tell if this count is correct but no matter what they get the shares back if it falls below 1.09.
Longer term, DRD is now at a price point where it can be treated as a long term nonexpiring call option. Keep in mind that this company is basically flat from a profit perspective, has only 8mn in debt and 23 mn in cash. It's been investing in and working toward a nice improvement in its gold processing efficiency and that investment will pay dividends as soon as the price of gold shows any signs of life. Like others in this sector, the "fundamentals" on this company say that gold is nothing more than a pet rock, a mania, a barbarous relic. It says that the new "money" is made out of paper and that massive printing by the con men who control it just... doesn't... matter.
I believe that we are in a great depression for miners, that gold is money and nothing else is (silver is a combination commodity and money), that all paper money is a fraud and that anyone who believes otherwise is an ignorant fool who will eventually be fleeced of everything they have when the herd loses confidence in the con.
Time will tell who is right but I like my odds, especially at these valuations and with the current EW chart patterns.
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