July 18th – Just Another Average Day
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EXCEPT WITH OUR PRECIOUS METALS 🙂
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SPX – I discussed that we are in the timing for the drop into a dcl, and this may be the start of it . Also…
VIX – I mentioned keeping an eye on the VIX. As it pops, the market usually ‘tops’ or ‘drops’.
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WTIC – Oil began to break down on Tuesday , day 28.
WTIC – Wednesday is oil inventory report, and Oil had a little downside follow through on day 29.
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GOLD – On Day 11, Gold pushed higher, right to the top of that Bull Flag. Silver broke out and Gold looks ready to break out soon too.
GOLD – This was the morning POP that I captured as Silver was breaking higher. It was looking like it would be another good day for the Miners.
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SILVER – Silvers follow through is typical of Silver. You want to be in it before it breaks, because it often just rockets higher. A ‘Measured’ move is almost complete, but they can (and often do) extend with Silver.
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SILVER – Silver has reached a resistance area, but silver also may just push right through it coming out of this base.
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GDX– GDX broke out and finally had the kind of volume that I feel is a sign of strength. As I expected , The continuation gap never filled and can be a 1/2 way point in the run higher, I’ve called for an initial $28 area target, but it can extend to former highs of 2016.
GDX – Prior highs in the $30-$31 area is attainable, since Miners move very quickly.
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~ALEX
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I’ve been asked a few times for ‘Laggers’ that may play catch up. Actually, I have included them in almost every report with Stock picks. I look for low risk entries that seem set up bullishly, but as this rally runs- it is getting harder to find the laggers. Laggers are catching up ( look at AUY, IAG, NGD, NG, HMY, GOLD, MAG, EXK, etc etc – they at one time were lagging, now they are exploding higher. The BEST time to buy was May & June near the ICL, and this run out of the 2nd daily cycle may reach a peak within a week or 2 and start to consolidate again, or dip down, so lets review a few and look for a couple that may be in that earlier stage situation.
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ASM – I just posted ASM recently as a lagger that was set up bullishly. I posted this as a buy Tuesday..
ASM – ASM is breaking out, after bouncing off of the 50sma. The ‘Laggrs’ play catch up quickly, but The Big Picture…
ASM – The Big Picture looks like this could have a LONG WAY TO GO over time.
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VGZ – An earlier chart of VGZ- I (We ) first bought VGZ at 56-58 cents. It ran and has been consolidating…
VGZ – When VGZ was at 81 cents Wednesday, I noticed bullish action on the intraday charts, so I added and announced it as a buy right then midday yesterday . It then pushed higher and closed up over 10%, but this can run higher since it was consolidating for 3-4 weeks.
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HL – I also pointed out yesterday in the report that HL was a lagger, but Volume Popped and the MACD is strong. You can read what I wrote (Cautionary)….
HL – It shot up 11% , and may run to the 200sma. Some Miners are slicing right through their 200 sma, so this might too.
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SAND – This is actually a GREAT looking set up. It is a 5 month consolidation that looks like an inverse H&S. Breaking from here should lead to an up trend.
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AAU – Someone asked me about AAU, and it dropped fast on a day when others were flying. That was concerning, so I mentioned that it might be best to look for a better one. THIS IS HOW IT LOOKED THEN, not so great with all of the others running..
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AAU – By the end of the day, it flipped higher and reversed off of the 200sma. This actually looks like it might break out higher and run now. At this point, I’d say that
1. It could be bought with a tight stop right here
2. Or keep an eye on it and see if it does start to break higher & grab it then above this weeks highs
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MAG – MAG was in yesterdays report , lagging as it built the handle. It is getting the follow through now and this is an excellent looking stock to own.
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SBGL – I (we) bought SBGL way down at the lows in May, and after a great run, it has stalled and bored many to tears, but it does look like a good set up. This could be an inverse H&S . A break out here would be a break to new almost 2 yr highs and…
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SBGL – This is a very large base.
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SSRM – SSRM was stalling a few days ago, but now it is taking off. Let’s take a look at the bigger picture…
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SSRM – A break to new 2 years highs here is also a break from a long constructive Base. MANY MINERS ARE LOOKING VERY GOOD FOR THE LONG TERM.
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GORO – Finally a burst of volume and a break from the triangle. This is lagging and still in the base. I do not know if something is fundamentally wrong with it, so you may want to check their news feed & their last earnings report.
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AG – AG has now doubled since Dec lows, it is up close to 70% since the May lows, but look at that potential. If I am correct with what I have been saying ( & Seeing) over the past year in this sector….Silver & Silver Miners look set up to explode going forward.
