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Gold Set For Breakout, Mining Picks Turn Green – LINK CORRECTED

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The strong push last week has turned the short to intermediate term outlook bullish. The numbers now portend … (subscriber version). Near term projections point to (subscriber version). The 10-12 month cycle projection points to (subscriber version).

Over the 5 days Feb 9-15, 33 charts of the 52 gold and silver mining stocks that I track had at least one buy signal. Just 19 had at least one sell signal. That’s a bullish tilt. However, looking at a screen of all 52 stocks in the group on Tuesday, there was just 1 buy signal and 16 sells, suggesting that a consolidation or pullback is due over the next week or two.

I screened those with prior buy signals over the past week for buy signals that triggered on Monday or Tuesday. There were 6, down from 25 the previous week. This is still solid considering that so many had triggered multiple short term buy signals the week before. Those with earlier multiple buy signals will mostly need to go through a complete short term cycle before coming around to the buy side again.

I then gave 6 that had second buy signals the eyeball test. Two were penny stocks, which I eliminated. I chose one that I liked the best to add to the list as shown on the table below.

That will leave us with 8 open selections. Of the 7 that were active last week, all had small gains, with an average gain of 4.0% and average holding period of 13 calendar days. I’ve added or adjusted stops on all picks that were on the list last week.

See, analysis, table of picks and charts (subscriber version).

The strategy and tactics suggestions in this report are for informational and entertainment purposes, and illustrative of one approach. Nothing in this report is meant as personalized investment advice and you should not construe it as such. No representation is made that it is the best approach, will be profitable, or suitable for you.

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