SHORT POST

Yesterdays report was filled with trade ideas, but now we find ourselves on Friday.  Not only is it Friday, but today is the final trading day before we enter into a 3 day holiday weekend, so this is just going to be a bit of a shorter post that you can add to all of the information found in the previous reports.

We all know the story about Oil and the COT, but yesterday I watched many Oil stocks continue to recover from the recent selling, and the XLE actually broke out.  I found stocks like  AREX, DNR, SN, WTI, WPX, PDS, CPE, QEP, and more  setting up bullishly.  I didn’t buy anything, but it does seem like some may be good for a short term trade.

XLE –  So the XLE did break out.  We have seen this recently, and then it rolled over, so I didnt buy anything, but I will keep my eyes on this sector and see how things go.  The OIL COT & ‘CYCLE COUNT’ do call for a pull back, but Oil may tag the $60 area first.

UUP  for the USD – The USD is dropping to a DCL, and I am thinking that it is starting to roll over into a drop into an ICL too.  This is bullish for our precious metals, and the Metals stocks are doing well now too .

I mentioned that I bought TGB, and pointed out other bullish Metals stocks like CENX, AA, HBM, FCX, etc. In the comments section yesterday,  I also mentioned CLF, SID, CLD, X, AKS, VALE, HBM, MDR, even WKGS as playing out nicely.  We have a lot of bullish set ups now.

GOLD – Gold is recovering from its recent break down, and this is known as a ‘stop run’  or a ‘bear trap’.  When things break down,  Bears jump in and go short, now when it recovers,  they are ‘trapped’ short and have to cover, which continues to push price higher.

GDXJ – So we see a nice run unfolding for the same reasons. I do believe that we have our ICL in place.  For the first time since September, the RSI is above 50 by a good amount again. THIS HAS BEEN A NICE RUN HIGHER  OUT OF LOWS, BUT…

GDXJ – BUT ISN’T THIS OVERBOUGHT? LOOK AT THE STOCHASTICS.

GDXJ  – COMPARE THIS STOCHASTICS TO WHERE THE STOCHASTICS HIT THE SAME SPOT ON ITS RUN HIGHER IN 2016.  WHAT DOES THIS TELL YOU? THIS RUN CAN GO A LOT HIGHER.

Just an example to learn from:

NSRPF–  I just wanted to show the importance of having a ‘basket’ of Miners. Most Miners are doing well right now, but this once highly sought after Miner, is falling apart.  I mentioned to look for a tag of the 200sma a long time ago, and that MIGHT be capitulation volume, but I am not touching this one yet.  It needs to prove itself first.

CLD –  I think that this set up is Bullish and a stop can be placed below the 50sma area. It doesn’t even seem to be breaking below the 50sma slightly.

IPI – This is an old favorite too.  This was a buy & hold trade that ran from $1.25 to over $4.50 this year.  After a 2-3 month consolidation, yesterday it Popped and looks ready to begin a move higher. In JUNE this Popped and pulled back again, before running. Tricky.

IPI BIG PICTURE – This chart was used by me in June to show the IPI potential when I recommended it back at $2.oo and $2.50. I do think that this will eventually get back over $10  🙂

CLF – This was an old favorite and it can accelerate once it gets going (Steel).  X, STLD, AKS< etc have been moving higher.  This is a big double bottom low on a weekly chart and looks ready to continue higher too,  as it works its way through resistance.

So today,  I’m just doing a shorter post.  Yesterday and in prior reports we had many trade ideas presented, we have been looking at Miners, and I plan on continuing looking at and buying Miners. For now we have a 3 day holiday weekend, and I think that goes for all of my readers ( We are international here).  I believe that all or at least the vast majority of the markets are shut down on Christmas Monday.  I do thank everyone for being here, and wish you a safe long weekend, especially enjoyable if you can spend time with your families.  I will have a weekend report to continue to examine our Big Picture view! Happy Friday trading!

~ALEX

CBWTF – This was a trade that I took, and I know some of the readers here did too.  It was a long base that was breaking from a triangle

CBWTF – I recommended it again, after it started breaking out and a positive new release was circulated.

CBWTF –  Now it has really moved higher quickly, when another bullish article came out and then trading was halted at the highs yesterday, right through the close.  It was up 30% yesterday, but we wont know if ti drops or continues higher until they release the trading halt.

The company requested the halt, until they could release another news release. Let’s hope that it continues to be bullish, but if it causes a pull back, I will continue to monitor this company and see if the pull back is worth buying.  So far,  the news has been very promising.