THIS IS IT
JULY 10 I have been discussing & waiting for the next leg up in Metals & MIners. Most who follow me on Twitter know that, just like in late MAY when I was expecting the "Meaningfiul Lows" to be followed by a Great Rally, I have been looking for 'Low Risk Entries' or 'BUY POINTS' during the recent consolidation - to get positioned for the next leg up. Yes, It is starting now. If you didnt take your position during the long consolidation (Well, it felt like a year, but I think it only lasted about 12 trading days) and wish that you had, I am going to show some charts for "shopping". To start though, lets review where we are....
I TWEETED this on JULY 7, the well know BULLISH CUP & HANDLE
These usually break out if conditions are right. Conditions definitely looked right. In Fact , Bullish conditions have been pointed out here since the End of MAY. By looking at some successful bullish charts, we can also get some clues as to which Miners might be "set up" properly right now...
Read More
These usually break out if conditions are right. Conditions definitely looked right. In Fact , Bullish conditions have been pointed out here since the End of MAY. By looking at some successful bullish charts, we can also get some clues as to which Miners might be "set up" properly right now...
Read More
Eventually it’ll get tired, but for now…
JULY 3 .... Part 2 Some of the set ups from Part one (Open this report & scroll down for Part 1 July 1) I still see as valid like GOGO, TEAR, and a few others. Others, like the 3D stocks, burst higher & now one can watch for an entry as they 'test' break outs. NOTE: If Markets head into a "Correction" - these Tests can fail. If the Markets remain healthy- Could be buying opportunity.
To start: A few more charts of possible Trade Ideas & a quick "lesson". As I write & Chart (7:00 A.M. EST) Silver & GOLD are dropping fast. I see Silver like this...no worries yet-
This next chart shows that a correction is healthy & GOLD is still fine too...
Read More
This next chart shows that a correction is healthy & GOLD is still fine too...
Read More
UPDATE
June 30,2014 These are just a couple of charts to update how I am watching things unfold in the MINERS. We had our first run up, which I believe is just the first leg up. A consolidation has begun, as did in the DEC run up. Is it finished? Maybe, Maybe not, but if I'm going to establish a position in your favorite Miners (As a core) or trade , I don't want to wait until I have to chase.... you want to try to find low risk entries using charts. Risk / reward is better at Support areas, certain Moving averages, and even a break out of a consolidation one can enter a low risk entry....and then keep our eyes on it to exit if it turns against us.
With that in mind...I was watching GDX, GDXJ for clues , and JNUG for an entry . GDX does have lightish volume today, but is that uncommon before it approaches a break out area? Notice the 1 hr chart. (Click charts to enlarge)
Read More
Read More
