Friday – More Than Just A Few Sprouts

Earlier this week I wrote a report entitled ‘Sprouts’, indicating that things were settling down and buying opportunities were sprouting up. Here we are at Friday,  the last day of the week, and things are really shaping up now. Let’s take a look…

  I have a lot of charts for this report, so I want to be short & as ‘to the point’ as possible with most charts.

 

SPX – This was in yesterdays report.  I thought that it was fairly clear that I was saying that things were turning bullish as a buy,  but I was asked “When would you go long the General Markets ?”  –  Now  click to enlarge and re-read what I wrote in yesterdays report…

 

SPX – Some didn’t get the message,  so I want to be clear & to the point,  read the chart…

 

USD –  To be clear & brief = I still feel that the USD is breaking down again.

 

WTIC #1 – I Still feel that Oil bottomed with a dcl, and I still feel that it could roll over as L.Translated into an ICL.

 

WTIC #2 – Do not think that just because I draw a straight line in my charts, that I expect price to move in a straight line.  If I show point  a – b – c like the chart above,  it certainly can look like this in a period of choppiness as it plays out.

 

I noticed this as I was writing tonight ( Thursday Night).   You may recall that the  last time I noticed an inverse H&S in Gold and posted it in a report-  it broke out higher, so I am going to try it again.  

 

 

ACTUALLY – I remember now that it broke out higher over night and then BACKTESTED in the morning.  We might want to expect that too.  It went like this …

 

And back tested in the morning. If Gold rallies overnight & drops in the morning? Not to worry.

 

GOLD – GOLD DAY 5 , it may pause for a day or so, but I expect higher prices. The Next run could be as long or longer than the DEC – Jan run, it will be the break out run.

 

GDX – I drew in a square where we could see GDX Friday.  It is option expiration and MAX PAIN was reading at $30.  Often price will end around there, but if Gold runs higher, I expect that this will too. TO BE CLEAR, THIS IS BULLISH, STAY LONG.

 

To help traders to see things the way I look at them if I am hoping to ‘add’ to my position, I posted these 2 charts in the comments .  This is how I personally view things to buy a pull back.

 

 

 

JNUG would have been bought around  $15.  It closed at $16

GG – GG as a part of GDX did not pause like many Miners did, even though it was at resistance. This is bullish action.

 

I am now going to just load this page with chart set ups. Don’t forget, I had a bunch of Miners in yesterdays report from Uraniums to SAND, NGD, VGZ, AUMN, BTG, TRX, THM, HMY, GORO, etc .  If that doesn’t ring a bell, you may want to review yesterdays report, they remain valid.   You could even start a ‘watch list’ of ones that interest you so you can look them up later if you want.

Please   DO NOT let a long list of charts overwhelm you.  I do this by request, we have lots of ‘traders’ as well as medium term investors.  Do NOT Feel that you have to  buy all of these or even any of these,  I certainly don’t and CANT buy them all.  Pick 1 or 2 or 3.  These are opportunities for those in cash, trading short term, etc.  I am loaded up in precious metals.

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 I will start with a couple of  Miners and go from there…

 

EGO –  A DOUBLE BOTTOM with very big MACD divergence.  Fundamentally , they seem to be doing good, but it sold off with some troubles with their Mines in Greece –  Action was initiated by Greece’s Ministry of Finance and Ministry of Environment and Energy (the “Ministries”) against the Company’s subsidiary Hellas Gold S.A.  They are currently trying to work things out.  If they do, this will fly. If they don’t, The rise in  Gold price will probably still pull it higher as a lagger.

 

TAHO – Rising off of the bottom, it had good volume, broke above the 10sma,  & ran higher on a day when Most miners were down.

 

MUX ( & honorable mentions) – Please read the chart

 

TECH

 

MU & The Semiconductors are bullishly aligned.  The General Markets look good for now, and many stocks also look to have based out and could be ready to run. This one Runs strong.

GOGO – Another double bottom with divergence. Might be best to wait for a break out  (Watch list)

 

 

 

TWTR– I have been saying that TWTR could become the come back kid in the same way that FB did.   I love the base and have pointed that out too.  From last summer, I pointed out this base as it ran from about $15 to $20.

TWTR – Then last month it popped and was at $25.  The reason I am discussing this again is…

 

TWTR – To show that at times a company has excellent news and GAPS open and never fills the …what I call  power gaps.  Again though, why an I showing you this?

 

TWLO WEEKLY –  A great base, but TWLO gapped up on the daily too, similar to what we have seen with TWTR.  The weekly chart is a thing of beauty, but I do hate the gap up on the daily.  So the choice is:

1. Either wait & buy the gap fill if one happens ( See a daily chart) , or

2. Buy a smallish starter and add along the way.

3. Or put on a watch list like I have. I have been watching this for a long time. 🙂

 

CLD – CLD fell apart with the market sell off. These stocks are starting to run again, so a break above the 10sma could be considered a buy.

 

CLF – CLF is recovering too.  It moves nicely under bullish conditions and probably overdid it during the market sell off.   This looks good even for just a 1 – 3 week trade.

 

GGR–  This stayed bullish in my opinion.  It looks ready to break out soon after consolidating an excellent run in November.

 

HBM – This Copper stock also ran very nicely in December, but almost gave it all back in the market volatility.  After tagging the 200sma, it is breaking above the 50sma and I would buy it.  Notice that in the last 3 or 4 days, it gained roughly what took about 15 days on the Dec run higher.

 

SID –  I have enjoyed this runner a few times since the 2016 low. This now looks like a monster inverse H&S  or a large Cup & Handle

 

SID WEEKLY –  Yes, this will take a while to recover former highs, but the big picture shows that it has been in a large base. It looks ready to break out.

 

VALE –  We were buying VALE, X, AKS, CENX, FCX, AA< etc etc  out of the 2016 lows, and at other times too.  One of our readers bought VALE at $4 and asked what I thought a higher target might be so she could sell a portion of it  (Congrats Nancy, nice trade!  🙂  ).  If you still own it too, this is what I am thinking, but I like many of these even longer term too.

 

BAC –  Last summer I wrote about the BANKS  as being bullish in a rate rising environment. You can see a BASE, a RUN, a BASE, a RUN, we now have another base.  What is next?   See also JPM, similar chart. GS too.

 

Some may want to skip this final part of the report:  I have been watching the charts of Cryptos regularly and Block chain companies.  WARNING: THIS IS A HIGH VOLATILITY AREA WITH MASSIVE SWINGS %-WISE.  IT IS ONLY FOR THE EXPERIENCED AND THOSE WHO CAN SELL IF A STOCK GOES AGAINST THEM.RIDING THESE DOWN CAN DAMAGE AN ACCOUNT.

So BITCOIN is finally starting to look good, but RIPPLE and ETHEREUM are still a bit off.  That makes sense, because I think that Bitcoin started selling down first, and may lead the way higher when the time comes too.  So I have been watching the old Block chain trades and some are starting to give a more bullish appearance after selling off.  I wanted to start by pointing out technically what I am looking at in the charts, in case we start buying later…

 

GBTC – This actually bounced right off of the 200sma and headed for the 50sma. It doubled just doing that. I want to see how it acts around the 50sma, these seem to be acting correctly, as you will see.

 

DPW – I have been waiting for these to break above the 10sma, that is key. The MACD is curling up and  volume is starting to increase too.  A few have started acting this way, and DPW is one of those.  It also bounced right off of the 200sma.   They are acting correctly.

 

MARA –  Mara also bounced off of the 200sma and is above the 10sma. These are acting technically correct.

MARA Closer shot  – So MARA has moved above the 10sma yesterday after bouncing off of the 200sma, we’ll have to see if it can stay there this time. If so, it could start rising to the 50sma, which is a 100% move off of the 200sma.

RIOT – Riot dropped to the 200sma ( almost) and broke above the 10sma where it began to rise toward the 50sma.  It too has doubled in 2 weeks.

 

CONCLUSION: SO I HAVE BEEN WATCHING BLOCKCHAIN TO LEARN FROM THEM. THEY MOVE RAPIDLY, BUT SO FAR FOLLOW TECHNICAL PARAMETERS.   PRICE BOUNCES OFF OF THE 200sma ( Buy?), THEN IT CLIMBS ABOVE THE 10 SMA  (And that might be a buy or place to add), and they tend to move toward the 50sma.  That can be a big %-Gainer at times. I have been  watching GROW, MGTI, SSC, SRAX, RIOT, DPW, etc . to follow this pattern. They are safer above the 10sma in my opinion.

 

FINALLY …

 

OSTK – Back in January I warned that this one ( Everyone wanted to own this one) was doing excellent, HOWEVER,  it gains and loses $20-$30 in days.  I was warning about the dangers of the ‘dips’.  See the chart.    Days later…it fell from above  here from $85 to $48.

OSTK – Now that you know what you are dealing with, OSTK crashed with the markets, based out, and recovered the 50sma yesterday with strong volume.   BUYER BEWARE, but it may run to $100 now.

I am pretty much loaded up in Miners, with the exception a couple of other stocks like ENPH, POTN, and APRI ( Thx to Chuck for APRI).   NVAX ( below) is very tempting too.   This above list should  keep the ‘traders’ busy on this Friday. Enjoy your trading Friday and your weekend!

 

~ALEX

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NVAX DAILY –  NVAX looks like it is breaking out now and…

NVAX WEEKLY – The Bollinger band Pinch is tight & RSI was at 50%.