I am taking partial profits in the gold stock sector because those who could not hold off anymore seem to be buying in. That is capitulation. One item I'll take…
If we are correct in viewing the beaten down US manufacturing sector as a better place to be long (ref. recent ISM data) than the over valued likes of the general market, then we would want to focus on ‘best of breed’ in the sector. I have often noted Faro as being a great and innovative company. I have had a lot of negative things to say about 3D Printing as an investment destination (though the technology itself is fabulous). But Stratasys is in my opinion best of breed in this beaten down space.
Here is the (weekly) Russell 2000 chart we used in 2015 to show that a moving average cross and a similar looking pattern have occurred that resulted in severe downside in 2008. I think we can disqualify the 2011 ‘comp’ because that moving average cross was quickly reversed and the current one, despite the big rally, is nowhere near being undone.
There is a bigger picture situation, the bottom of which we caught right on. That would be per this monthly chart at the green long-term support line to the channel…
Reference the original update from February 18, Targeting XLU to 50. Well, XLU closed today at 49.31, close enough for government work. So consider the target in. I will probably sell it tomorrow.
Here is the chart from the original update.
Silver Standard got bonked on its recent acquisition of Claude Resources, but according to ‘FL’, who long-time subscribers may remember as being an NFTRH subscriber who was also a trusted fundamental mining analyst, the deal could have similarities to the Kirkland Lake/St. Andrews deal that took place earlier this year. You may recall that KGI.TO dropped hard after the deal was announced. It has since gone vertical.
Updating the short and long-term views of XLE and sending to the entire list as it is a sector of interest to so many economies and markets and thus, of macro concern.
XLE Daily broke above the key resistance level yesterday and assuming we have a weekly close above it tomorrow, that is now support. Indeed, it is tentative support now but I kept it red to play devil’s advocate. A reasonable measurement from the pattern is 64-65. That is for the traders among us.
As you may know, I have a friend in junior mining analyst ‘Otto Rock’ from IKN. As is noted each week on the last page of NFTRH reports, I recommend his work because it is put forth honestly and he calls it like it is, whether that makes him look good or not. Point being, I trust the guy as a nugget of gold among the lumps of coal that make up the gold stock analyst community.
As you know, we have the energy sector (XLE) as an ongoing situation from both long-term (monthly view, for investors) and short-term (daily, for traders). Crude Oil fund USO is…
This is as much an excuse to test the NFTRH+ 'opt-in' list as it is a reason to update the energy sector (XLE). At the next regular update I will…
This post is being sent to the entire list (as opposed to NFTRH+ email opt-ins) because I need to check the '+' list for accuracy before using it, and have…
With reference to Michael Ashton's post at Biiwii... No Strategic Reason to Own Nominal Bonds Now Mike Ashton is also known as the "inflation guy" and for good reason, his…
A week ago, in anticipation of the risk 'off' impulse in the markets, we NFTRH+'d long-term Treasury bond fund TLT. Here's the original post, unlocked. We set parameters for buying…
Note: I have a challenging day today and will be away from the market for most of the rest of the day. An alternative way (to shorting the market or…