December 27th – Friday Trading
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This weeks ‘shortened holiday ‘ trading has actually been exceptionally good! As mentioned before, it is often expected to be a week of light volume and even a bit boring, but it has been anything but that. With that in mind, I have had many stock picks in the Precious Metals Sector and even some of our prior trades like ENPH, TWTR, DNR, OAS, etc have been continuing to do well too. So with this this Fridays report, I want to just do a quick market review and add a few more picks at the end, since this is the final day of trading for the week.
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SPX- The SPX has ramped up this week too. Notice that it has not even tagged that 8 ema in the last 10 days of trading. That tells me that it is just moving higher and sideways. There has been no real dips to buy. It is day 16, so this will probably be a R.T. (right translated) daily cycle. Bullish.
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WTIC – Oil has also been less choppy and more bullish recently. It is climbing higher within this channel that I have had drawn up. Oil stocks remain bullish. We discussed a long watch list including TUSK, BE, OAS, WTI, WLL, VAL, MRO, etc. I will look for new entries when these experience more of a pull back.
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GOLD – Gold finally broke free from that multi-month consolidation, and This is a beautiful chart! No doubt you remember how much money we made as it ran for weeks from May through August. I expect that again.
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SILVER – Another beautifully Bullish break out.
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GDX– Miners broke out & have been running strong too. Will it pause? Maybe. It could finish forming a cup and then build a handle as shown, but this is not what happened last May through September. It just broke out and buying flooded this area, so you want to stay invested and take advantage of some great gains, and we’ll discuss things as they unfold in future daily reports.
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What a beautiful week of trading this turned out to be, right? And guess what? Next week is the start of the New year. That is also usually expected to be a light volume holiday shortened week of trading , with no trading on Wednesday as the markets are closed. I CAN HARDLY WAIT!! 🙂
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Enjoy your Friday trading, your coming weekend, and I usually have the Big Picture Weekend Report released on Saturday Night. It is going to have some beautiful charts in it this weekend, isn’t it?
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~ALEX
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BTG – BTG was recently pointed out as a bullish set up that looks similar to AUY, AG, and a few other long box-like consolidations. I just wanted to show this…
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BTG – See how nicely these can find buying follow though. So…
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AG – I own AG and expect it to run to the high teens and even into the $20’s. Even if it gets a bit choppy or bumpy over the next few weeks, Let’s enjoy the ride. I expect these miners to put in some great gains.
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ELYGF – ELYGF has a LONG consolidation and it has bored me to tears at times, but I own this for the long term and it finally started to break out yesterday. This was Midday and it closed the day with over 400,000 volume. That makes the weekly chart a break out for now.
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EXK – This dropped midday, but I liked it. I grabbed this to show price above the 50 & 200sma, and it is a silver stock, so I view this as bullish. It then actually went on to close green, so I view it as a lower risk entry or buy before it runs higher.
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KGC – KGC is breaking out and this put in a nice run of almost 100% in May – September. I took a bigger picture view to show that since November of 2018 ( about 1 year), KGC has moved from near $2 to $5.50. These Miners get choppy during consolidation, but now that they are in Bull mode, they can gain attention and run at a steeper pace too.
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THM – THM is a lower price Miner that looks ready to break out and run. I grabbed this after 30 minutes of trading yesterday, and then it broke above that 50sma with high volume. It is a buy, but view it as slightly riskier due to the possibility of a ‘Public Offering’ used to raise money for the lower priced companies.
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VGZ – VGZ started to break out yesterday too. This is a buy. Notice that it is oversold, not overbought.
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AKG – AKG looks ready to go too. See the chart. You can wait & buy a break out, or get in here and hope for some Buyers to step in.
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NAK – The NAK set up is a crash down, small base and now is perking up. Watch it Friday morning, since a gap open that doesn’t fill is considered an Island Reversal (Bullish). That was a capitulation type low. This is a higher risk stock but we rode it in 2016 from $0.40 cents to $3.50 in an amazing run.
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ASM – I like the set up in ASM too, as a lagger. It hasn’t broken out above that 50sma yet, but looks ready to. Some Miners are getting overbought, ASM remains oversold. This can pop and run straight to 80 cents.
ALO – ALO started to gain some traction & volume as it broke above the 50sma. I do not own this, but let me show you why I love this one…
ALO – I just now noticed this, and I LOVE these long bases. It still needs to break above the prior highs, but when it does, it can continue running. Of course, as a lower price stock, they may do a public offering and that will temporarily ruin a good run, so this is also considered bullish buy maybe a bit of a higher risk .
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BOX – I traded this recently on the side, and ow it looks like it may be setting up bullishly again. It is crawling under the 50 sma.
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OLED – OLED has been a bit of a choppy mess, but it formed an inverse H&S and I saw this pop midday before I had to leave the markets. This now has a target of roughly $250.
