Looking at weekly charts of many mining stocks IMO we can expect...

Looking at weekly charts of many mining stocks IMO we can expect some massive rallies if/when XAO/XJO rallies back to 5000ish.

So for a bit of positive news in these gloomy times, I thought I'd start a thread on potential profits IMO lookimg around the corner.

A small sample of stocks with IMO their potential rally gains:

Stock High Likely Low 50% Rally Target Return
MMX $6 30-50c $3 600-1000%
ADY 53c 3-4c 28c 600-900%
OZL $4.20 80c-$1 $2.60 150-250%
BRM $3.00 25c-50c $1.80 250-600%

The 50% rally targets I believe are quite likely as they all co-incide with previous upside resistance and/or the top of the original downtrend channels for each stock from their tops (which is where I'd expect them to bounce up to). Of course there's always a risk these stocks could go broke, but I'd be quite surprised if these stocks don't run up in 2009 close to these targets.

You may all believe this is hogwash and totally unrealistic. That's fine. We'll wait and see. For reference, here's an extract from a post I made in August last year where I provided some downside targets after the initial fall from XAO 6400. At the time these downside targets were considered extremely unrealistic as they had already had massive falls from their highs.

"Purely from a technical point of view, here's just a small sample of likely future stock prices - have a look at the charts and make up your own mind. Then look at the charts for any spec stocks you have now and you will see where they are going.
WMT: 8c possibly 2c
MLS: 2c
AUZ: possibly 2c
BLR: 7c possibly 2c
AAR: 5c possibly 2c
PDN: $4 possibly $2
FMG: $20 possibly $10"

Their lows have been:
WMT: 3c
MLS: 0.9c
AUZ: 1.9c
BLR: 1.6c
AAR: 1.5c
PDN: $1.79
FMG: $26.80 (pre-consolidation price)

The only stock which I got seriously wrong was FMG.

Of course this doesn't mean I necessarily will be right on the upside, however at the moment from a charting basis I'm as confident that the upside targets will be broadly reached as I was about the downside targets.

These are just my views. Please do your own research and make your own decisions.

I'm interested in peoples' thoughts, in particular those of other chartists.