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Gold Breakout Points To More, Miners Swing Picks Look Good

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Gold looks good and so do the miners.

Gold is attacking important trend resistance around 1910. If it breaks through, the next target would be xxxx (subscriber version). The 9-12 month cycle projection is now xxxx, with a high projected between xxxx  and xxxx. However, the 13-17 week cycle projection has been met, suggesting  that a consolidation or pullback is likely in the short run… (subscriber version).

Over the  3 days Feb 16-18 since the last report, 16 charts of the 52 that I track had at least one buy signal. That’s still bullish. A screen of all 52 stocks in the group on Friday, had just two buy signals and 22 sells, as the sector pulled back. It suggests that a pullback or consolidation is due. I looked at the 2 stocks that had buy signals and took a pass on adding any to the list this week.

That will leave us with 8 open selections. All had small gains, with an average gain of 6.9% and average holding period of 19 calendar days. I’ve added or adjusted stops on all picks. Charts below.

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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Posted in 3 - Gold Trader
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