So far, the trades that we have been really focusing on have been excellent. We’ll do a quick review and then discuss those trades and set ups.
DJIA – Wow, that wasn’t a very healthy looking drop on day 9, was it? The DOW landed right back on the 50sma, so at this point, support is support. If this were to roll over and continue down, that means that this could still drop into an ICL. ( I never did call an ICL, just a dcl, but we are overdue for one).
SPX – As a cautionary note going forward, I mentioned that we had a buyable DCL in place, but using this weekly long term chart, it’s easy to see a rising wedge in SPX. It is important to look ahead when we take on a trdae. That is called being alert and prepared, not biased , rigid, and foolish.
That way if we do get a sudden drop, we aren’t surprised or overly biased and married to positions.
WTIC – Oil looks ready to continue higher. This is actually only day 2 ( I wrote 3 on the chart accidentally). I have traded OIL since it is acting correctly, but I personally am not taking an Oil stock trade Yet.
NATGAS – Natgas was down, but not out.
GOLD – And Gold just kept on running higher, as expected in the weekend report. It ran higher Sunday into Monday and Monday into Tuesday. I’m just thinking out loud here, ” Gold can pause, and still run all the way to the $1375 area. Friday was day 18, so if I could Monday as 19 and Tuesday was 20, this could peak on day 22, or 23 and be at $1375 if it kept rising $10 to $15/ day.”
This was in the weekend report. Again, I’d love to see GOLD tack on $10 Each day until it hits the $1375 area, and then drop on day 22 or so, but we don’t always get what we want. If the USD makes a strong break higher, gold may drop into a dcl.
GDX broke out from its downtrend line / triangular type consolidation in mid August and crawled for a bit. On AUGUST 28th I pointed out this initial target for GDX after a nice 3.5% 1 day surge.
GDX – GDX has closed in on my initial target. I actually expect GDX to even run to the 2016 highs over time, and that would be excellent gains. Time will tell, and for now I am waiting for a reversal to sell more of my leverage.
GDX – If you were in this trade for an initial target, the trade would be finished now, but they can extend. Some would sell a portion and allow the 8 or 9 sma take them out. Some would sell on a tag of the red dotted line in the chart ABOVE, a swing highs would be a sell for some, etc.
TRADE SET UPS
MANY INDIVIDUAL MINERS ARE NOT EXTENDED- I see set ups that look like they want to join the race.
KLDX – This chart is a double bottom mini shake out type low, with a rising MACD. This has nice potential. Some think that if a stock doesn’t move higher when Gold does, it just won’t move higher. Maybe you ought to ….
…grab a 2yr chart and have a look at TRX in the spring of 2016. Was it running rapidly higher in Jan – March of 2016, when all others were? No- but we bought it right before it exploded 400%, because the set up turned bullish. I search and have found that many Miners ‘set up’ in differing time periods. Back to KLDX–
KLDX – I see a possible run to the 200sma to start, maybe a crawl, and a continuation , if things remain bullish.
MUX – Let’s just say that MUX is no longer disappointing traders.
AAU – AAU Popped quite a bit at the open on Tuesday, but then it sold off all day long and is now at the 200sma. Bearish? No, I feel that Tuesday was a valid break out and AAU may be ready to go higher shortly. It could consolidate a bit further, but that POP is a sign of strength.
PZG WEEKLY – PZG has a very long consolidation, and this could run higher now that it has broken the down trend line. It’s on my watch list.
EGI – I like EGI here – see this and the next chart.
EGI– I can’t say for sure when this will launch, but this set up is one that usually does launch. It looks a lot like the WRN set up that I bought recently.
GPL – GPL bumped against the 400sma over & over & over again. Now it is above it, and pushing on the 200sma. I think that this silver stock is going to make a nice run soon. It is a lagger now, but often performs very well above resistance.
In the U.S., we’ve on;y had 1 day of trading, so what was mentioned in the weekend report is still valid, this is just a quick review of various Market sectors since Tuesdays trading and some more Miners that may be setting up nicely. Enjoy your Wednesday trading ( Watch Oil inventories), and below are more trade set ups and ideas that we are currently trading. Thanks for being here at Chartfreak!
~ALEX
Trades that are not Miners
GV – Goldfield Corp. engages in the construction of electrical infrastructure for the utility industry and industrial customers. Its activities includes construction of transmission lines, concrete foundations, distribution systems, fiber optic splicing, substations and other electrical services. The company was founded by George Wingfield in 1906 and is headquartered in Melbourne, FL.
GV– Why GV? I distinctly remember trading this run last year when hurricane Matthew hit Florida, because my wife was helping her parents move there last October. This stock ran from under $3 to $8.50 ish at that time. NOTE: They are located in Melbourne FL – so will that hurt them if the area is hard hit? I do not know, but I remember owning this stock last year for part of this run, so it is back on my watch list.
As you probably already know, I have been watching WRN since the end of July actually, as it consolidated recent gains on a run from under $1.00 to $1.30. Copper stocks have been running strong ( FCX, HBM, TGB) so I expected this to eventually join in. As long as Copper remains bullish, this should join the race. Lets discuss it a bit more.
WRN – So back on Aug 7th I pointed out that when this breaks higher, I expect a possible run to former highs. That would be the $1.70 area.
WRN – Building energy to break out and run, this was the initial low risk Buy area.
WRN WKLY – This weekly chart looks bullish to me, so even though WRN was up 23% last week alone, this is also a longer term buy & hold commodity stock for me. You can see that it looks quite healthy.
CLD WKLY – This is a very bullish set up for the longer term, if it breaks that 1 year downtrend line. On Monday it actually dropped 9 %, back to that lower trend line! This goes on a watch list.
I have been pointing out SID, I owned it for a while, I sold this consolidation, and I bought it back. It is a steel stock , and the metals have been doing very well. This was a possible mini cup&handle pointed out last week on this Aug 30th chart. Did it break out?
SID – Friday it broke above the 200sma and then dropped a bit into the close. Yesterday it also pushed higher, but closed as a doji candle. SID may land back on the 200sma and bounce around there, but I think that the big picture for Metals is bullish. Read the chart about how SID dealt with the 50sma, maybe we see the same with the 200sma?
NAK – This is both precious Metals and Metals, so I am not selling. I have pointed out that I have been accumulating this one again since July/August. This was as of Friday.
SEPTEMBER 3 – WEEKEND REPORT 
September 7th – Market Wrap
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Thanks! First real day of school – It will be be “fun” — 17 little boys in our class this year and its going to rain all day! 🙂
So one of our readers emailed me that SABINA GOLD discovered new high grade gold. The chart trades in Canada under SBB and the chart does look very good.
I would add a chart, but I am pressed for time right now, maybe later.
VSTM finally released that news that I’ve been expecting – BA-BOOM in premarket.
Nice!!! Sadly I missed out on that one…but always another trade:-)
Nice score! Is this a long term holder in your opinion, as it´s blowing through to new 52 week highs today?
I used to use a 5 year weekly chart in the reports…check that out,
Their trials have been good, and its a cancer treatement, so things are promising long term.
Problem is, I widdled my nice large position down to very minimal after the last rn, with the results coming up. I’ve seen these stocks get cut in 1/2, and now its up 50% in premarket ( insert cry emoticon here)
I have a similar question. Holding individual stocks is new to me. When you have a significant event like today do you sell and capture the gains? Sell everything but your original investment amount and let that run? I am inclined to sell as it appears there are lots of other good options right now while getting additional gains here may be more challenging.
It honestly depends on your trading plan, individual goals, etc. Was it short term, long term?
Do you just want to lock in gains, or ride it based on the 5 year weekly potential?
If I was heavily invested, I usually sell a portion of the pop. A small position you’d have to sell it all to make it worth it for the short term trader. The longer term buy & hold would add on the dips on the way higher.
COG may be an early participant in the oil stock world
Taking this opportunity to add to MUX
LTBR ( nuclear energy) Just popped out of a falling wedge on news of a partnership. Unfortunately it is up too much to want to take a position here unless it pulls back
Yes, that was me that just added to my WRN position
The only stock I’m currently in for a trade–thanks for keeping us frosty, CF!
That weekly chart in the report says to hold on, there should be more to come 🙂
I took the OAS trade yesterday. So far so good.
NGD (took it off the WL a while ago) not caring much about gold today.. Rocking and rolling
That break of the bull flag type triangle has a $4.30 price target possibility
Buying USG and VG for Irma play.
USG chart looks pretty good.
Needs to break that previous high at 31.29.
GV is starting to move. Small pilot buy at $5.10 this morning. Waiting for follow through confirmation to add.
Thanks CF!
.https://uploads.disquscdn.com/images/3dffe06be71b786d9f3f8d664785823e1acab44586175f657659bab9de296d73.png
That one ran strongly last year, I hope it does the same for you MM!
While I probably think that GDX is in need of a short consolidation (based on exceptionally high daily TSI levels and Alex’s comments that we are late in the cycle count), it has been really interesting to watch my option account (mostly Jan call options on smaller miners) steadily increase in value this morning despite lower equity prices. There are obviously plenty of buyers looking for an entry, which is propping up the bid prices even in the face of a slight dip in the underlying equities.
Good observation Dave. Helps confirm my gut feel. Looking at previous miners runs, those cycles are almost imperceptible. Intraday lots of them are coming back now.
Good observation Dave
And remember that I have mentioned probably too many times, Triangles mess up cycle counts in my opinion. I have made great gains ignoring cycle counts after a break from triangles.
The consolidation in some triangles can be very energetic, and the shorts piling in and having to cover can extend the run higher. Then you get a dcl that comes about higher than expected ( 2016 was a strong run from a solid base, and the dcl was much higher than many expected). I didnt sell all the way up.
RIG making a nice move! Swinging from 750s! Finally a swing and not a day trade thats going in my favor!! (aside from miners)
GDXJ Count:
I have been accumulating Calls since the break of the blue wave iii TL with my initial stop below blue wave ii low.
I will be taking most of the profits on the next unconfirmed Daily Swing, getting overbought and as CF is saying a DCL is due. https://uploads.disquscdn.com/images/4176a219cf74144828c99640b26850a6e79955c26f1c86209052451be731a773.png
Then the plan is to ReLoad at the bottom of the blue wave iv wherever that may be to play wave v of 3.
I will not be managing this trade or defending it, use your best judgement and follow CF’s advise.
Good luck all !! 🙂
Ken, you going for the higher high above 38.06?
Not this wave I do not think Bill…..who knows though with all this geopolitical “stuff” going on.
Wheres that beautiful man, Ralph? GSV .. thanks again.
sheees, yesterday you were trying to get rid of it. lol
Im bipolar. Lol… I still got impatient with it, but u say giraffe hunting, CF says giraffe hunting.. Ive never had a giraffe…
Lol, MUX was on sale this morning, too!
I still have 25% of funds to put to work into a pullback which might only last a couple days at most, if this continues to play out like 2016.
ZGNX on a tear – bios bustin big moves
PBR and CVX above their 200 today –
@maria Daily TEUM?
TGB – yesterday was the 2nd of those big slam down days within 1 month, yet you just cant keep it down.
Surprises to the upside, my JNUG went green AGAIN. Crazy.
Ok, red again, but that was encouraging while it lasted – lol
Hi Alex – I sold 70% of JNUG at 25 this morning. I had bought it in the 17 area. I ma holding on to the remaining 30% with a stop at 24. I am hoping we get a DCL and I can buy the dip.
Wow.. nice trade!
Thanks. I got stopped out of the remaining 30% at 24. So, I am all out. I will patiently wait to buy the dip to the next DCL.
Very nice trade
I still own around 70% of my position from the $17 area. I sold some premarket one day last week, but then it was surprises to the upside taking over. While I am conscious of the timing for a dcl, I have also had other bullish thoughts in my head ( related to the type of run that we had in 2016, and also simply related to triangles and how they often do not allow cycles to play out as expected).
So it is true, we may have a day 22 or 23 ( or actually any day now) peak, and then a drop into a dcl.
My stop is currently $23, but it rises with time.
Nice!
I am in ENPH, this is what I am looking for to add. I think that it will stall at the 200sma ( I may add if it does an hangs at the 200sma, that is a sign that it wants to break out). I may add on the break out.
Take a look at 6 month charts of RUN, FSLR, VSLR, JKS, etc – The solars have done well.
https://uploads.disquscdn.com/images/027a4a15057ce2d222b45be4bd845ee51a8bc4583eb234404347e7927d5e2ba3.jpg
AND JASO- I didnt even see that solar stock recovering.
Alex, I’m in this one too. Just curious, when you say ‘hangs’ are you looking for decreasing/increasing vol. around the 200dma, number of days spent there or the 50dma to catch up or what is your trigger to add? Thx! I always find adding tough…
Also – we traded SPWR & CSIQ here this summer. SPWR may be ready to go again, and RUN may also be trying to move higher after recent consolidations.
https://uploads.disquscdn.com/images/0c61a3920d27bd820787bbb79a8ff7581bf937c4e3052b79fb3036ab0102a309.jpg
Feeling sorry for the peeps on the MACK ST forum who thought they were +800% richer, instead of -10% poorer after reverse split
Mentioned a few times HDSN in the low 9s high 8s for a swing.. C&H forming on the daily… Breaking out from that now.
Canada raises interest rates another quarter point.
Hmmm, When was that? Gold just dropped….a temp top in Gold?
Canada Rate decision was three hours ago.
Interesting.
I saw it a few minutes ago. Look at the CDN dollar going nuts now.
http://www.bankofcanada.ca/2017/09/fad-press-release-2017-09-06/
It kicked my MUX in the golden nuggets….ouch.
Could this be a catalyst for a top of the DC?
AUMN defying the current PM red.. but for how long?
hmm.. idk …. but as lonnnnng as ur asking… I’ll take a LIL sumthin sumthin like this…. ;o)
https://www.tradingview.com/x/UTnu8CPJ/
sweet if it holds!.. that 2016 AUMN reversal looks like current VGZ too
…chartfreak did a funny…. did ya see that… 😉 HA HA
When Alex is posting giffage, you know things are on the change 🙂
whats a giffage?
LOL omg.. i thought u meant to say “giraffe” … lol
haha LoL .. gifs
http://mrwgifs.com/wp-content/uploads/2013/08/I-Like-It-A-Lot-Jim-Carrey-In-Dumb-and-Dumber-Gif.gif
HAHAHAHAHA
Alex.. you draw parallels between WRN & EGI above.
I got a few that are closely related on my luverly 9day chart (i know how much you luv it too.. LoL), together with targets based on IAG.
I think if KGC & EGI clear the brown chn, they will make a run for the blue dotted line (just like IAG has done)… which in both cases is about +50% higher.
IAG …
https://uploads.disquscdn.com/images/c173060d63ae7c69b21c398a82236433128d70970b14bd86c441490f322735f0.jpg
EGI…
https://uploads.disquscdn.com/images/89485e0ecc840f8a5eeb06d267ede50d8d4fafab4f37eeecfc8d08d99acabdaa.jpg
KGC..
https://uploads.disquscdn.com/images/46cfd5aa115ec5208ffbf0b6fdd461996ac7801cd23ba6624cbbbf91848a8486.jpg
I actually do like KGC & GFI
I liked it so much I think I just pushed it through that 200sma
nice job!
I looked at many time frames, and the 5 year weekly stunned me,
and the 2008 to now weekly chart was ridiculous 🙂
I even used the 50 & 200 ma on a 2 yr weekly basis and that giant base broke above both.
The widow maker may rise from the ashes again.
once clear of the local overhead clutter on the 9d, and i reckon its a beeline for brown dotted.. +150%
https://uploads.disquscdn.com/images/8f4b9856fd7f313ee4bab797241d5e63fec74cfeee573c676bd327131e03bcde.jpg
Look at it go now, I think it was up 5% when I bought it? Its taking off and the volume is very nice too.
What was it when you 1st posted about it- do you remember?
the 9d AUMN looks similar to where EGI was last dec2016?..
… and then look what happened!
think it was at around +6% when i noticed it in a sea of red miners, and commented on it.. cuz it then dropped back to about +3% before taking off again.
afternoon …
Ken (or whomever) im thinking GDX/Nugt is in “4” right now … .and just so happens to be mimicking that last leg up (look left) for candles copied …. …
https://www.tradingview.com/x/PKxtoN7T/
“4” – see RED arrow….
That is what I am seeing also Maria……see my GDXJ count below. 🙂
splendid… 😉
Thanks for sharing this Maria. May be I sold JNUG too soon. If the chart above hold true, I may buy back JNUG tomorrow AM and try to ride another 15% up
Harvesting majority of my profits of my GDXJ Calls by EOD.
Unconfirmed Daily Sell…….
Bonds selling off today also … not a good omen for the PM’s…..I have TLT on a wave v of 3 top. fwiw
And the USD may have done that 1-2 out of the lows.
Nice to see how Gold acted during the low to 1 though
Ken, good to hear from you. Im out as well. Stopped (tight) out of GDX runner. Have all my miner shares; all out calls now.
Hey Cason,
How is Hawaii treating You ?
Well! We’re really digging it. The only issue is that I’m working WAY too much. Just in a really tough job right now. Btw that and the time difference, trading has been really difficult, had to adjust quite a bit.
IS MBOT ready yet?? I had this in a report last week or the week before as a possibly high risk / high potential trade set up
it is = Biotech micro-robotics
Most should consider this as nothing more than a lottery ticket- this is not even a buy recommendation. It has flattened out at $1 and the MACD is rising .
That said, this could pop 400% or more in 1 day ( JUST KIDDING, but look at this chart). It is risky & it may continue to base out sideways for a while, but I just wanted to post it again.
https://uploads.disquscdn.com/images/f846406582ffdca02fb56fde558f13a3c4127513d4f668be08e98ee20fc0c1b9.jpg
risky frisky whiskey… :o)
#wordfreak
yup….
tho i SHOUULLLA said… Risky->whiskey->Frisky
or even … Whiskey->Risky-Frisky
or … awww .. heck
#Frisky
hahah
Liking MBRX as well
I am probably early from the way things feel, but how I feel has never made me money, so I am in there adding to holdings, 76% invested now in my favorite juniors and SILJ (didn´t add to SILJ yet, that one I will wait on). I am prepared for more downside first, but don´t want to miss those few huge days that basically comprised the entire 2016 run. The big moves come on few days, the moves that really make a difference, and it one needs to be in before the moves.
You mean…………………..Surprises to the upside ? : )
Yep
Very Surprised with how AUMN (not holding this at all and havent touched it in a year+) and GSV held up today despite the others selling off. GSV out of all positions was my largest which is why I think Ive been so worried about its lack of forward movement vs the others.. That being said, I sold half sizes in All miner positions today including Half the boat of GSV at 1.88.
I know many in here dont day trade, and many are swingers – Just wanted to throw this one out again, not a long term hold for me but I was alerting HDSN in the high 8s low 9s as the daily looked like a nice C&H. Its a lower vol ticker that can move … Today it put in a high of 9.47 … If anyone took the trade, congrats! Im still holding
Bye all. Running away from Irma this morning….hope to see a happy account when I return…and many giraffe necks soon for us all!
Stay safe Nancy!!
BEST WISHES!
Take Care. You will be in our thoughts and prayers along with all in Irma’s path.
Take care, safe travels!
The Thursday report will be a bit later than usual, sometime closer to 8 a.m. Eastern. Thx
The new report has been released