After some beautiful runs in Steel stocks , they took a rest and some thought that Steels strength was over. It seems that the Large run up just needed to take a healthy breather and consolidate some gains ,so lets see where they are now. We'll start with AKS
We have a FED MTG directly ahead of us , should we even be looking at the volatile Precious metals?
Well, I wont recommend anything, but I need to point out some nice looking reversals...lets start with PAAS
Buying CPE @ $6.60 has paid off rather nicely . The CPE update here http://www.chartfreak.com/2014/03/13/cpe/#more-95 showed that the set up was still bullish as it then traded near $8.00. Yesterday & Today it traded around $9...whats next...
GDXJ has broken inside the triangle on increasing volume, using a 4hr chart . (Click to enlarge) More downside would seem likely (Especially a close inside)
I've been asked what I see with the selling in GDXJ / GDX today.
- I can view it in a few different ways, so lets start with the daily
-( Is it just a simple "test" of the break out & 10sma ?)
I'm Still liking Rare Earth set ups( See QRM, AVL, REE,MCP ) as mentioned in a prior post. They have "Based out" and look to be moving above( and some have finding support above) their Moving averages .
I also like some of the energy stocks like AXAS , MNGA, & a few others are starting to look good.
Let me highlight 2 stocks and why I like them. SHLO and MNGA
I wanted to quickly review a possible change in the way AAU looks. It may have gone from "Bullish" to "Caution" , please read on... Read More
Noticed some reversals in RARE EARTHS today. They look oversold and seem to be “BASING”. see AVL, QRM, REE, MCP MCP as an example
Some short term indicators got a little overdone. Is this just a gap fill, or is this run getting "Tired" and due for a little more downside?
This isnt just a precious Metals site, but that is where a lot of action is lately. Lets take a look at a few good looking set ups.
AAU hasnt "Popped" yet, but it looks set up to move higher
The Equity markets are dipping lower, but that can allow consolidation of recent gains to re-set a stock for re-entry. Notice...
