Archive for month: January, 2015
Here at CHARTFREAK.COM, we have been all over the buying of Miners and Metals related positions for many weeks now . Since pointing out the lows in Gold in Early Nov, some miners have gone up over 100% . It has been profitable, but Some were a little concerned about SILVER lagging. What did I think of that? Was it concerning to me ?
No. I posted this chart for Jan 12 showing prior “POPS” in Silver and pointed to a proprietary indicator that I have developed that was indicating that-
“SILVER IS ABOUT TO POP”
I actually immediately recommended USLV on Jan 12 with this chart at $22.23. It hit $28+ today.
As for GOLD , I said I loved this Weekly chart on Jan 9… and couldnt believe there were still naysayers. This was a strong set up.
I loved this even more on Jan 16, when our follow through was evident. Is this move done?
My Dec 26 targets are playing out – I was so alone then ; )
1st target $1275 (done) , and then $1320 to $1330- can we still get there? We do have an ECB mtg this week.
GDX WKLY There are resistance points, but so far the Miners have done a nice job of cutting through them.
Why? Because GG & NEM have broken out and make up a good part of the GDX ETF .
Look at what GG alone had done on a wkly basis in January
ABX was lagging and some were concerned about that, I liked the set up a lot
I called it a BUY at last Thursdays close on this chart . Looked ready to break that 50sma . It did Friday, and today is over $12.55 only 2 trading days later.
I put this in my weekend report. This is how it closed Friday – LOTS of buying & or short cover off those lows (Cup & Handle)
We will get pullbacks in Miners along the way. We have an ECB meeting later this week that can affect things too. Will they be buying opportunities or another bear mkt rally ending? I will have to wait and see how things unfold. Why not sign up for 1 month and join us if you need any help navigating these markets. We have done very well so far and you will gain immediate access to all previous reports as well as future reports. I occasionally post here on the public site, so thanks for being here , I hope this helps you to also see what we have been seeing and trading.
~ALEX
I've started this report a few times and there is so much going on, that I found it difficult to explain everything that I see, so I'm just going to cut to the chase and try to show basically what I am observing in various markets and what the possible implications could be. Lets start again with the general markets. SPX, QQQ, DJIA in JANUARY are still unfolding as I thought they would way back when I posted this in DEC. I saw weakness increasing
Our expected sideways consolidation continues before a directional move takes hold. We look for weakness or signs of strength going forward, to see if this is going to resume as bullish or bearish (short?) Here is what I'm seeing...
Read MoreIts option expiration and often we get a large push of volume . The markets are looking more and more like they are heading in the direction that I have been calling for.
I pointed this out on Jan 6
It has followed that exact path and this is what I am thinking going forward...
Read MoreVolatility is here and the markets are rocking and rolling. If you have been reading my thoughts here, you know which ones are 'Buy the dips' and which are not. Lets review.
I said that I was interested in this , for one thing. A break above 22 would be 'Interesting' to say the least. Do you know where we are now?
Well, the markets gapped down big yesterday and and thus Vix gapped open to 24 recently and then sold off back under that line to $21.50 yesterday . Is that the end of it?
Read MoreThis message is an afternoon update.
Read MoreJudging by the intensity on that pitchers face? I'd say he's throwing some heat, maybe a fastball. When it comes to Metals and Miners , however, I think many were fooled the recent action and in that case you may hear them say, "It really threw me a curve ball! " Understandably , the past few years in Metals and miners have been ugly for the bulls, but there were definitely a number of factors that helped us here at Chartfreak to navigate the recent lows, and identify that this was NOT a break down. Its slowly becoming clearer to all that Miners were telling the story and Metals were not forming a bear flag as some suspected. Metals have been putting in some constructive lows. The move higher might become rather swift at this point too , and I'll show you what I mean in this report, but the real question is... Are these rallies going to last? Or should we be alert to future downside? We'll address that too. To the Charts!!
First the general markets. please read this chart .
Not much has changed in my thinking about the possibilities for the general markets going forward, lets review...
Read MoreI posted for the public blog in Nov & Dec many times that I was expecting a strong move in Metals and Miners. It was Very unpopular and many were ( Understandably) quite nervous about entering and holding any positions, especially over the weekends. Others doubted the idea all together. In the premium strategies section of this site, I have been recommending Miners with proper 'Set ups' that were projecting strong moves higher and I was also giving strong reason in both Nov & Dec that buying then would pay off going forward. Bases were being built and could move up at any time. Still, it wasnt easy back then at the lows.
Some Miners have done very well since then. People are gaining confidence that maybe the move could be profitable for them too . Let me show you what we here at chartfreak have been looking at.
IAG , CDE , HL, AG were just a few that were recommended early on .
IAG ran from $1.40 to $2.50 and consolidated for a while. It ended up moving 100% off of the lows already. Last week it pulled back and reversed at the 10sma. These leaders are looking good and acting correctly , which adds confidence to our holding positions.
To further add confidence to the possible moves, lets review another set up recommended here .
Read MoreAre you looking for another miner?
I have been posting some good buy set ups, and they have played out very well. If you missed them or I know that some have even told me that they took profits recently, only to see them continue higher. What to do? Look for another decent "set up". SO I want to share a some good looking set ups here with you now.
Read MoreI like to look back at the end of each week and just see if the charts are telling us anything new. Are they confirming what we expected ? Are there new implications? Is there something there can boosts our confidence moving forward? This week , I see all of the above . Lets review .
Lets take a look at the $USD for a moment- practically straight up
Ooops, wrong image, but they look the same. Here is the correct chart of the $USD
Is it really going to pause? Well, lets look at a few other charts ...
Read MoreWeeks ago I mentioned that sometimes when the markets are breaking to new highs on weakness, it can cause volatility and lack of direction. Do you feel that we are seeing that now? This chart from DEC 23 showed what I was referring to as we broke to new highs with weakness. I was afraid that we might be heading there again.
Its can be hard to make good Money when the volatility has markets ( say the Dow for example ) moving up & down 100's of points daily. Down 300 , up 200, down 300, up 320, down 250, etc etc etc . Yesterday the Markets re-gained the 50sma and today they are giving it up again. Volume is a tad heavyish so far today and I am again watching the close to see if we get an idea what to expect going forward...
Read More
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