At this point you will not see me write anything positive about DRD unless and until it can break out the top rail within the red circle. So far one might count the action as only 3 down but it comes after a 3 wave move up to what was likely the prior 4th and so the odds point downward. But a break out of that top rail would make me change my tune.
I can only hope that they take this down one last and final time because that would be right in line with Avi's wave 2 bottoming scenario. Every gold bull on the planet has been beaten into oblivion. These are the conditions that one associates not with some short term bottom but rather with something quite major in degree.
Because of today's actions, and unless and until the top rail is broken out as mentioned above, my primary model is now the blue model of 2 posts ago which is to say a throw under down to .80 or .90 cents. Please keep in mind what that would do to the dividend percentage now that DRD is paying a divvy again.
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