I like [SBGL] at $4.50-$4.60

This is my first post on Sibanye Gold Ltd (ticker SBGL).  I was drawn to it by an article which showed that it was aggressively buying assets from those who were panic selling them at the bottom due to too much debt load.  When gold turns back up, SBGL is going to be loaded up with productive assets that it bought at literally great depression fire sale prices.  That means earnings will soar.  It pays a divvy of over 4% today and it only has 4x as much debt as cash.  This shows that it was a conservative spender during the liberal years and now it is flush with buying power while everyone else has to toss the baby out with the bath water.  It does make money today unlike some of the debt heavy players which have lost 90% of their value.   

Of course what I mainly like is the chart.  After 5 waves up into May of 2014, this one began a big slide back to the level of the prior 4th.  That big expanding wedge was a 3-3-3-3-3 bottomed on the day that I claimed to be a major commodities bottom.  Because of the wave count we have very good evidence that the next wave up will be a 3rd.  That means this should move a lot faster than other plays which are now working on 1st waves after putting in 5 down.  Also, expanding wedges tend to reverse quickly and move rapidly in general once their direction has changed.



The game here is to be patient aggressive.  In other words sit calmly and make the chart come to you but when it arrives, jump quickly because reversal will be rapid.  After 3 waves down are complete (5-3-5) that will be 2 of 3.  So the next wave up on this should be rapid since it will be a 3rd of 3.  I am mos def going to buy some of this.