For the watchlist from Tuesdays scans - AG, AVP, AXU, CELH, FR.TO, GBR.V, H, SIL, SIVR, SLV, SVMK
Note: A lot silver miners and ETFs in the watchlist today, as the sector saw some volume come into it. Spot silver remains in Stage 1 currently, but a number of the miners have broken out into Stage 2 recently, and so it's a positive sign for the sector that it's starting to get a bit more volume coming into it while Silver is in Stage 1, but has been lagging the gold stocks and the market. From my experience, gold stocks always lead new Stage 2 advances in precious metals, and then silver follows later. So it's a good sign to be potentially seeing the start of that process. So I'll be watching this sector closely.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
For the watchlist from Wednesdays scans - ATEN, AVRO, MAG, NVTA, STNE, VGZ, WPM
Note: Tonights volume scans were full of Silver stocks again, which moved very strongly again today. So is strengthening the case for precious metals in general, as the hot sector at the moment.Â
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Note: Today saw a continuation move in Gold and a Stage 2 breakout attempt in Silver with good volume in both and the stocks in the sector. So it's no surprise that around half of tonights list is more gold and silver miners. The move has been rapid this week though in silver, so it will be interesting to see if the momentum can continue into next week or if we'll start to see some consolidation of these quick gains and pullbacks. I've also like to note that general stocks are very close to their recent highs still, so we could easily get a resumption of the Stage 2 advance in the broad market after some consolidation this week.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Note: Today saw a continuation move in Gold and a Stage 2 breakout attempt in Silver with good volume in both and the stocks in the sector. So it's no surprise that around half of tonights list is more gold and silver miners. The move has been rapid this week though in silver, so it will be interesting to see if the momentum can continue into next week or if we'll start to see some consolidation of these quick gains and pullbacks. I've also like to note that general stocks are very close to their recent highs still, so we could easily get a resumption of the Stage 2 advance in the broad market after some consolidation this week.
In looking over many of these and other miners, most are now 50%+ extended from the 10 sma on the weekly. The time to buy seemed to be just when they broke above their 30 emas and through resistance (eg USAS) -2.70 roughly, even though there was a big cloud just above that price; now it is on the verge of breaking through the cloud but 40% above the 10 sma . How does one play these miners now given most are 50% extended from the 10 sma, wait and hope for pullbacks back near the 10 sma?
(2019-07-20, 04:47 PM)briansmith456 Wrote: How does one play these miners now given most are 50% extended from the 10 sma, wait and hope for pullbacks back near the 10 sma?
In a strong breakout scenario like we've had you might not get a pullback to the 50 day MA for many months in some of these stocks as they have moved so rapidly. But like you saw with gold stocks that did the same thing at the start of the year, you will start to get consolidation at some point soon, which maybe already started on Friday, as there was a lot of profit taking which stopped SLV for example closing above the Stage 2 breakout level.
So if it was me, I would set price alerts at last weeks highs in the strongest looking charts in the sector, and then move on until some of those start to trigger and close above those levels. As if we topped out on Friday short term, then it could be a month or so until it moves higher again. But if it's really strong, it might resume immediately next week again. Either way, you should always plan for what you could lose first, and so need to plan for your risk, and look out for lower risk entry points.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
(This post was last modified: 2019-07-20, 05:53 PM by briansmith456.)
RE: US Stocks and ETFs - Watchlist and Discussion
(2019-07-20, 05:14 PM)isatrader Wrote:
(2019-07-20, 04:47 PM)briansmith456 Wrote: How does one play these miners now given most are 50% extended from the 10 sma, wait and hope for pullbacks back near the 10 sma?
In a strong breakout scenario like we've had you might not get a pullback to the 50 day MA for many months in some of these stocks as they have moved so rapidly. But like you saw with gold stocks that did the same thing at the start of the year, you will start to get consolidation at some point soon, which maybe already started on Friday, as there was a lot of profit taking which stopped SLV for example closing above the Stage 2 breakout level.
So if it was me, I would set price alerts at last weeks highs in the strongest looking charts in the sector, and then move on until some of those start to trigger and close above those levels. As if we topped out on Friday short term, then it could be a month or so until it moves higher again. But if it's really strong, it might resume immediately next week again. Either way, you should always plan for what you could lose first, and so need to plan for your risk, and look out for lower risk entry points.
Thanks Isa but most of these really strong looking charts are already 50%+ above the 10 sma on the weekly chart so even if they break above last weeks highs you would still be a buyer despite being so far extended from the 10 sma on the weekly?
For example, AG is about 45% above its 10 sma weekly now so you would still buy it if it cleared last weeks high?
SSRM is about 25% above its 10 sma weekly so I would be more comfortable buying it if it breaks above Friday's high of 16.11. I am trying to find miners like SSRM that are under 30% above their 10 sma weekly that have had good volume.
