Detour Gold has been featured here numerous times over the years, starting with a 2009 recommendation from precious metals consultant Chuck Cohen. At around $7, the stock is trading for about 3 times what it sold for then. But that’s not saying much, since it sold for as much as $40 when physical peaked in 2011 above $1900. Still, Detour’s not banging out new lows like so many other juniors these days, and so perhaps it’s time to revisit its chart to determine where it would become a “buy” from a technical standpoint. My best guess is at 5.15, a midpoint Hidden Pivot shown as a red line in the accompanying chart. That would represent a 27% fall from these levels, so it may take some time for the opportunity to ripen — or perhaps not, if tax selling produces a washout low in the remaining days of 2014. In any event, I’ll recommend bidding 5.20 for 1200 shares, good till canceled.
