‘+’ updates have thus far been on non-precious metals items because of the extended grind of would-be bottom patterns in play for the last year, and because other items have had more definable and actionable setups. This morning I want to look ahead at the juniors and explorers since the patterns are maturing.
With Copper rising above the converged 50 and 200 day SMA’s (around 3.18/lb) and with commodities in general at do-or-die support, I wanted to put up a chart of COPX for future reference for you copper/base metals aficionados.
BBRY is a turnaround play, pure and simple. John Chen is at the helm and has a tough job ahead of him in re-branding this company from device maker to ‘internet of things’ software developer.
The market bounce is providing a potential opportunity for those who care to, to re-short. As you may know I covered a short on SPY on the recent decline and have been looking to re-enter it. The S&P 500 bounce target has been 1950 to 1960, but let’s refine the situation for the SPY.
In light of the breakout in base metals (which I am still looking at as only a trade via DBB), and bottoming situations in other areas like Uranium (hat tip to subscriber ‘Hammer’) and the REE’s, it is time for a brief update on mineral commodities.
A few weeks ago we noted that base metals were in a potentially bullish pattern and recently updated that status as near a break out. GYX is now breaking out of the pattern. Here is a weekly chart of the DBB base metals ETF.
Another old name from the go-go (bubble) days of tech. Previously we have highlighted BRCM (a successful trade) and more recently INTC. Here is another survivor from 2000.
NFTRH 296 noted “Platinum could get interesting if it breaks resistance”, which was shown by a weekly chart. I also noted that I was “jumping the gun” in buying PPLT before a would-be breakout in Platinum.
I am taking profit (+8% from NFTRH+ highlight) on the most recent idea, Control4 (CTRL). The measured target is higher and others may want to go for it. I want…
Within the context of a potential market blow off scenario that Fed policy seems bent on instigating, we continue to look for candidates that have not yet moved aggressively. On that note, CTRL, which can claim some of the ‘Internet of Things’ hype (iOt, another hype flavor added to last year’s 3D Printing/Additive Manufacturing?) in the home automation space.
Similarly (to the INTC idea), a smaller yet high quality Semiconductor company is LSCC. It has a valuation that is ahead of most, due to its quality status and solid…
I remind you that any NFTRH+ trades are your responsibility solely and these trades may not be revisited any time soon if at all. They are simply ideas for you…
Today was quite impressive for the bulls. A public post at the site showed the SOX coming right to its trend line. I day traded LSCC for a good profit today and would you believe I actually had to remind myself to take the profit? Seeing the SOX at the trend line helped get me going, after letting some profits turn to losses by not being decisive in this market.
A piece at 321gold.com by the man who "was way ahead of my time in forecasting the rebound in Lithium and Graphite" prompted me to look at old friend LIT,…