Something For Everyone

 The way the various sectors of the markets have been playing out, I would say that there is something out there for everyone.  We have ‘short term trades’, ‘longer term set ups’, ‘trending runs’, etc.

 

 Note:  Today is Friday,  the last day before another 3 day weekend in the U.S. Markets.  You may want to keep that in mind as you decide what you do or do not want to hold until Tuesday.

 

USD – The USD is showing a lack of strength so far, similar to the end of November. Day 7 has it meandering at the lows.

USO –  I captured this midday to mention in the comments section that Oil was FINALLY starting to sell off a bit.  Would it close that way? It closed even lower.

WTIC – So OIL hit $64.77.  Very strong once it broke out.

 

XLE OIH, & XOP did not put in as much of a reversal, but if we get a pull back, this sector will be full of bullish set ups.

.

I already pointed out this one that I sold and it ran off without me. A back test would be a perfect entry.

WTI – I’d like to see a pullback on some of the stronger ones like this one.

SN – This doesn’t look like a big move, but that was basically $4 to $6 from November.  The potential on some of these Energy stocks is also very good and they look to have based out and started to move higher too.  Notice: It was a VERY bumpy ride, but the climb may smooth   out once it gets going.  I’m going to watch this sector for pull backs.

 

PQ – and some of the Energy stocks are still near the lows, so we will find low risk entries when this sector settles down a bit. This reversal actually looks like a Buy if it closes above the 10sma.

 

I want to repeat myself here.  I see Silver stocks starting to POP, and Silver is not breaking out. That could mean that Silver will break out sooner than later.  That said,  I am holding my Miners over the long weekend.

 

 

GDXJ –  I dont want to rule out a possible pull back into a dcl next week. GDX & GDXJ could not get back above the 10sma, so this could be a weak bounce and an a-b-c dip.  I am fine with that. ADD or BUY THE DIP if we get one.  A break out higher closing above the 10sma Friday would obviously be great.

GDXJ – And a dip would still only be a 50% or 61.8% pull back. Normal.

 

GDXJ MAY 2017–  I did see that a-b-c type dip in MAY of last year, so it is possible.

 

 So yesterdays report pointed out that HL, CDE, PAAS, and other Silver stocks were popping or breaking out, while Silver was not.  That could be a good sign, since Miners often lead the way.  Some have said that they “Sold the Pop in HL”  or “Sold the POP in CDE”.  That is fine, locking in gains is a personal choice and many have been burned by the Miners in the past, but let me show you what I am thinking.  I have pointed this out in the past with AUY,  so let’s just review that…

 

AUY REMINDER DEC 20– When some of our Miners started ‘popping’ & breaking out from these bases like AUY did, I said that I expected them to form a CUP, back to Sept highs.

AUY- Jan 2-  We certainly got that CUP.  Selling the POP in silver stocks could be a mistake if they start doing this, right?

Now that the small cup is done,  AUY went sideways for a mini handle, and at any time it can break from this 1 year base and really move out higher. I’m not selling the Pops.   Do we have other Miners forming that first cup?  Yes, we do…

 

CDE – I pointed this out Wednesdays pop in yesterdays report as a buy

 And this was after Thursdays trading.  This could be forming a cup like AUY.

FSM – I see a cup here, just like AUY.  And it has put on a handle just like AUY. And …

 

FSM & THE BIGGER BASE – FSM is really a bullish break out that can continue higher.

 

GPL – GPL popped yesterday too, so they are all starting to show signs of bullishness without Silver moving higher.

HL –  This was a buy too, as it broke out while Silver did nothing special.

HL – HL also had follow through. This should be able to run to $5.50.

 

My big picture point was presented this way in December…

 

AUY –  I drew up a few of these when we first started running. That first cup is up to $3+, then a bigger cup up at $6, and then a run back to $10 eventually would make a giant double bottom cup.  I dont want to seem like a dreamer, or get us too far ahead of ourselves, but look at X, CENX, AA, HBM, etc etc. A bull can run away without us if we over trade it.  There will be pull backs and public offerings, etc, but selling the first pop out of a recent base or flag may be a bit early to take profits…

 

Just to give you a visual of what we could get if this is the return of that Bull run. ‘Something for everyone’ means that even the BUY & HOLD crowd should be able to take positions and let them ride for a while.  🙂

CLF – $6 to $9, but not an easy ride, right?  It will be the same with your Miners. This MAY just run to Feb highs. $6 to $9 and eventually it should get to $12.

 

IPI – from yesterdays report –  I really didn’t want this to drop much further, to remain a proper cup & handle. I was watching that 50sma.

 

IPI –  Well, we got a reversal, now a push back over the 10sma would be more bullish. It is not oversold, so it may recover slowly.

 

CLD SEPT 1 – When I was pointing out the STEEL and METALS stocks in August & September,  this was CLD.   It was a buy around $3, buy it as it breaks the down trend, and  hopefully it would form a cup too.

 

CLD ran to $4,60 and a back test was a good place to add 2 weeks ago.  I pointed that out in late December.  I am reviewing this because this is what I expect from MINERS and ENERGY stocks going forward.

 

Now CLD is $5.50 after that successful back test.   Just to be fair,  TGB did this and failed/stalled, but the great majority of these metal stocks are very bullish.

SID –  DEC 28 –  we saw nice solid runs in Metals stocks, and now it looked like SID was going to join in as a lagger.  I saw it as a buy if it could get past resistance.  This one ran swiftly in June, July, and August.

SID – I posted this last week, because it broke resistance and the Cup could be forming.  A run to $3.50 from $2.50?

SID – Swiftly it formed that cup. $2.10 to $3.40 in a few weeks.

So many of the steel,  Aluminum, copper stocks have really done well. We have bulls running all over the place, and there really is something for everyone to be invested in (or trading).  When we get pull backs, I will point out low risk entries.  Some can be longer term buy & hold, others will just trade the set ups.

For now, we have had a lot of trades to look at in this weeks reports, including several Miners.  I will NOT sell my precious metals over the 3 day weekend, even though Gold starts trading on Sunday night and the US markets are closed on Monday.  I am confident in that set up.  Silver Miners actually have me thinking that we are going to break out to the upside.  🙂 I feel we have an  ICL in December and we are in the first daily cycle.

 

SPWR –  I like this solar set up, as well as ENPH & VSLR.  FSLR broke higher too,  there really is something for everyone.  🙂

 

See additional information below, for the blockchain trades.   ENJOY YOUR FRIDAY TRADING & YOUR WEEKEND!

 

~ALEX

 

I posted a few Blockchain charts in yesterdays report and also in the weekend report.   Let’s review BITCOIN as a guide, even though some of these stocks may be linked closer to another crypto-currency,  like Ripple or ETHER.

 

BITCOIN – Click to enlarge-  I discussed at the end of the weekend report and in a prior report that I was expecting an  ICL in January using cycles.  They were arriving every 6 months pretty regularly.  Then we had the flash crash in December, and that very well could have been that ICL. (See the weekend report).  If it was an ICL, then the lows are now in for Bitcoin, and that low should NOT be taken out.   With that, I said that I would look for block chain stocks to start setting up.

It does look as though some are setting up now, so I would expect something like this with Bitcoin if the ICL is in December…

 

BITCOIN – Click to enlarge- HOWEVER, that flash crash happened in 1 night, and I need to remind you that BITCOIN trades 24 / 7.  So on this 3 day holiday weekend,  do you want to hold blockchain trades, knowing that this could slam down anytime Friday night through Tuesday morning?  This possibly happening while your US markets are closed.

The choice is yours and it has to be made today by the close. So I posted charts of SRAX, SSC, MARA, etc and I wanted to post another.

 

PYDS –  I wanted to buy this one in October & November and missed it completely.  It still POPS like it wants to just take off, but it always comes back to the 50sma so far. After the 3 day weekend, I will revisit this, but I personally dont want to hold this one over the 3 day weekend.

SSC – I do own this one, and I will hold it for the long weekend, just to have some skin in the game.  If the ICL was in December for Bitcoin,  and by Tuesday we are seeing it trading at $17,000, this could benefit by gapping up big and leaving me behind.  If it breaks down,  I can accept that.