Friday December 1st – Was That a Monthly Close For Gold Up Near The Highs?
YES! GOLD CLOSED THE MONTH NEAR THE HIGHS, AND PRIOR MONTHS AT THE HIGHS WERE WICKS, SO THIS IS LOOKING VERY PROMISING. I’ll cover more in the weekend report, let’s do a review of our markets for Fridays trading…
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SPX – With the release of the Jobless Claims the futures dropped, but you can’t keep a good bull down, right? The day ended with a reversal, and this also ends the month with the General Markets up near the yearly highs. I will cover more of that in the weekend report.
WTIC – Oil is just struggling and even though it pushed above that 200sma, it was rejected at the downtrend and closed down 2.44%. The MACD looks good, but Oil remains weak for now.
The USD popped in a big way, but I want to tell you in advance that Silver made new daily cycle highs and GDX closed green too. Several individual miners looked very good, so I’ll cover some of that below.
GOLD looks to be forming a bullish pennant, and the surge of the USD did not hurt Gold.
SILVER made new highs on day 13, despite the USD surge.
GDX dipped and recovered as the day went on, so holding a basket of Miners is still doing well in this 2nd daily cycle.
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Things really look good for our trading & Buy & Hold positions! Keep in mind that November ended on Thursday, so with prices up at the recent highs, our weekly and monthly charts remain very bullish. I will cover that in the weekend report, which I will likely have for you on Sunday. Below I just want to cover a number of charts that show the bullishness of our markets. We have had some ‘sleeping’ Mining companies really come to life, so I want to show a few of those charts, plus a couple of nice set ups in the general markets. Enjoy your Friday Trading!
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~ALEX
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THM – This is a company that I used to always buy and hold, along with TRX, AUMN, and a few other common juniors. Well, I didn’t buy it this time. My bad!!
THM shot up 33% on Tuesday, paused or dipped on Wednesday and then surged another 14% Thursday. This is a big move and THM is up 56% on a weekly basis. P.S. The USD was higher yesterday and Gold paused.
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BADEF – I had this company in a prior report, mentioning that I tried to buy it a couple of times down near 50 cents and it just kept running higher along that 8 ema. This was 12 cents this summer and it hit $1.17 two weeks ago after an amazing run. It has now dipped lower and chopped to consolidate gains and it is at a 38.2% Fib level. This looks like a good area to start a position, as long as we realize that after this amazing run, it may still chop and drop to the 50% /50 sma area. It also may just take off and keep running.
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This is another one that I bought near as a buy and hold in my basket weeks ago.
OCGSF dropped below the 200sma yesterday and then started to climb back, so I tried to add to my position. It was hard to buy and my order just sat there for hrs, but I was able to add near $0.168. I’ll show you the weekly chart …
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The Weekly Chart of OCGSF shows the potential over time if it can make its way back to the former highs and I can just buy and hold and ignore the wiggles. In 2020, it climbed to those highs in a matter of weeks or a couple of months.
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IVPAF – Ivanhoe Mines had a nice day yesterday after moving above the 50sma and climbing along the top of it for a week. It looked a little lack-luster, but that MACD was strong as it crawled along. Ivanhoe actually received a few buy ratings over the past couple of weeks due to growth potential, so it is still a buy, but it can have low volume.
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SVM continues its launch. I wanted to show this, because its running like some of the crypto stocks were running, and volume remains strong. This is what we want to see as Gold and Silver push higher in this 2nd daily cycle. It offers the hope that the 3rd daily cycle will remain strong as buyers see the bull running away.
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VGZ is trying to continue the run also, so the Miners look good, even with Gold stalled and the USD surging.
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RANDOM BULLISH LOOKING CHARTS:
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ESPR – I’m seeing Biotech and Medical stocks set up bullishly, so I just wanted to post a couple of those potentials here. ESPR captured the 50sma and seems to be forming a flat topped wedge (Bullish consolidation). ESPR released earnings as it approached that 50sma, then it dropped down and pushed through it.
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GOSS climbed up onto the 50sma and has been crawling along above it. GOSS also released earnings as it approached the 50sma and after crawling along it, it looks ready to possibly climb higher. Thursday was an 8% gain day after reversing off of the 50sma this week. It’s under $1, so that is a concern, but it does seem to be recovering.
TWST had a nice set up, so I captured this in the a.m. It actually is choppy and closed red, but look at what it has done in November. That was roughly $15 to $26 in 1 month! They released earnings and price surged 26%, and now it is consolidating those gains. I think that it wants to break the 2023 highs. This was a $200 stock at one time.
BYND – Beyond Meat has a base forming and it has now reached the 50sma where volume is starting to increase. Earnings have been released and I think that this is ready to break out soon. As a $7 stock, I can see this making good % gains if it can. $7 to $10 looks very easy. $7 to $14 is not out of the question. etc.
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CIFR (Crypto) – This company has done very well in the past. After they released earnings, their stock was sold off sharply, but I think that that will be temporary when Bitcoin continues higher. It is now trying to recover the blue 200sma (so far it has done that), and it is trying to recover the red 50sma. I love that 50sma / 200sma alignment, and I think this is a lagger that will do very well over time.
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