February 13th – Wednesday Trade Ideas
SPX – The General Markets moved a bit higher on day 8. A drop to the 10 sma is possible at any time along the climb.
WTIC – Oil broke higher and did close above the 10sma and this is a signal that a swing low is being confirmed, but this sector has been heavy lately and the individual stocks like OAS, WTI, DNR, LPI, & even the XOP broke higher and dropped below the 10 sma into the close. They didn’t give a buy signal by closing above their 10 sma.
GOLD – The Golden Triangle continues and price may roam around the entire inside of this area until we get close to the Apex. A break out either way may experience follow through. A triangle consolidation after a run higher should be bullish, but it could still go either way.
GDXJ – GDXJ continually drops to the 50 sma & bouncing. GDX & GDXJ remain choppy.
LET ME SHOW YOU SOME BULLISH LOOKING MINERS. IT IS HARD TO RECOMMEND THEM, AND I’LL EXPLAIN WHY, BUT IT IS ENCOURAGING TO SEE THEM WITH GDXJ RIDING ABOVE THAT 50 SMA.
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EQX – This really is a bullish looking set up to me. It is hard to recommend a Miner, since things have been so choppy, but we all saw what ELYGF did on its own when GDX/GDXJ was choppy, so this could be bought with a tight stop at the 34 sma, but there is a little more risk with it possibly breaking down to the 50 sma at this time.
GTBDF – And then you have Great Bear starting to break out that also looks very bullish. I captured this chart midday when Robert mentioned it in the live trading area, but it pulled back a little into the close. It is at $7 and still looks very good.
HL SUPPORT? – HL dropped a lot more than I expected after that Bullish earnings pop. THIS is why it is hard for me to recommend GTBDF or EQX, though they look so good. I drew this hoping that this is a back test of the break out. NOW I WANT TO SEE HL GET BACK ABOVE THE 50 & 34 SMA again.
HMY – HMY discussed purchasing a mine from AU and it dropped below the 200sma, then they released earnings and it popped up over 10% Yesterday. This looks like a shake out at the 200sma and this is usually a buy with a stop at the lows. NOTICE THAT THIS DROPPED NEAR $2.70…
HMY – On Jan 7th I mentioned that this could drop to that $2.70 50 week ma on a weekly chart. It has done that & reversed higher.
HMY – Also Jan 7th, This shows that a drop to $2.70 & then a recovery could be a shake out of the Box Consolidation, but it is really a LARGE BIG PICTURE GIANT CUP & HANDLE.
SSRM also looks ready to break out if it can get above this blue down trend line. Notice how it rides the 50sma just like GDXJ.
HECLA OVERKILL – I found support with a blue uptrend line, back test of the down trend channel, and horizontal support. There are no more excuses it HL breaks down further 🙂
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I have discussed the General Markets repeatedly as being late in their timing for a drop into an ICL. It could blow off higher first, so a stop under the 13 sma for longs has been good guide on recent rallies. I am seeing several Miners that look bullishly aligned, and ELYGF proved very bullish despite the choppiness, so they could act on thier own and break out. That said, HL has been a warning that the timing also needs to be right at times, so the recent choppiness has us cautious too. Let’s see what Thursday brings our way, happy trading!
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~ALEX
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VSLR – I recommended Solars recently and they are breaking out & acting very bullishly. One thing that I wanted to point out is how absolutely Choppy VSLR was along the 200sma. Miners are choppy too, but this shows that choppy does not mean they they lack strength. It is a process. Anyone ‘Giving up on Miners’ due to choppiness may see kind of action this leaving them behind in the future.
CASA – CASA filled a gap and took off higher, but now it actually left another one behind, Maybe a back test to the 50sma / gap fill reversal would have this a lower risk buy. ( Watch list).
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EDXC – I Bough EDXC over a week ago, and I sold this pop. I re-bought it on the reversal. I wanted to hold this Buy & Hold if it slowly bases out and begins a slow climb higher.
FCEL – FCEL reversed at the 34 sma yesterday and may be ready to move higher after consolidating that recent BIG 500-600% run.
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TWTR had a very strong earnings pop, and now it dropped & reversed at support. Regaining that 200sma is a low risk entry and it can run higher if the markets remain healthy.
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PINS – Just like TWTR, Pins did a gap fill to the 8 ema and also a back test of this break out. A reversal higher could be a low risk buy here too.
SOL – This is a Solar stock that may be ready for a big run too, so I bought it. Earnings have already been released and…
SOL WEEKLY – The weekly chart is very bullish looking with good upside potential. This sector has been running strong. See charts of RUN, JKS, CSIQ, VSLR, etc
SPWR – This was a Buy and in the report in January here,
Also as it ran higher into February.
Yesterday it was pushing the 200sma as a buy…
And it may do something like this. It actually closed up 10% Wednesday, congrats if you caught it. If you see it dip, you can buy or add too, placing a stop under that 200sma
TSLA- Notice that if you bought TSLA along the 8 ema, you could have stayed on board during the entire parabolic run from Dec to Feb ( Is it finished or will it run again? We don’t know, but it is actually still holding the 8 ema). I am showing you this because…
MSFT – Similar to TSLA, We may see MSFT go parabolic too, if the markets remain healthy. MSFT reversed at the 8 ema yesterday. It just ran from $150 to $190 in 11 days!
