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Friday is the last trading day before we enter ( in the U.S.) a 3 day weekend. Markets are closed in the U.S. on Monday, so please keep that in mind when deciding whether you want to buy, sell, or hold. Lets do a quick market review, and then I wanted to go through some lessons pertaining to our positions in Miners. 🙂 In the general markets, something that could turn out to be very bullish happened in the markets today.
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DJIA- This was my chart from yesterday pointing out a possible shake out with the Brexit vote. I labeled this SPX, but it was DJIA. They both had the same reaction.
Notice what happened Thursday...
Read MoreWhat has been the best game in town the past few weeks? Trading Gold Miners has really been explosive. Look at charts of VGZ, MUX, ASM, CDE, AG, FSM, and more and you'll see solid gains in these once hated Miners. I want to discuss trading these miners further, since we have been killing it in some of these. Lets go to the charts...
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XRA - On June 27th, I mentioned that this is an explosive set up, and showed a few reasons why. I was buying .
I then posted this on the 28th. With Gold down $15, XRA powered higher. Last chance to get in?
And then Wednesday- BOOM! - just like the VGZ and MUX trades, this exploded higher. Up 26% at the close.
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I was asked " Did you sell the pop?", this is what I'm looking at...
Read MoreFriday alone wasn't enough to give us the information we needed. Monday helped and now we have Tuesdays trading to add the the equation. lets take a look...
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SPX- The positive side....the weekly chart ( yes, it is only Tuesday) would shape up nicely if we held here or continued higher. That's a big 'if'.
The bearish side...
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