Short term and 13 week cycle projections point to a low around xxxx (subscriber version). . Short term cycle lows are xxxx . The 13 week cycle low is ideally due at any time between xxxx xxxx xxxx.
Subscribers, click here to download the report.
A weekly close below xxxx (subscriber version) would invalidate the implications of the breakout.
A long term cycle high is due in xxxx.
Swing Trade Screen Picks – Over the 6 trading days ended March 28, 39 charts of the 52 mining stocks that I track had at least one buy signal. 34 had at least one sell signal. So there were plenty of whipsaws. This is typical of a consolidation phase. The signals anticipate swings of 3-5 weeks. But when a market or sector is rangebound, there are lots of whipsaw signals. This is why it’s necessary to look at the charts for the overall pattern.
I rescreened the stocks that had at least one buy signal over the first 5 days of the period, for repeat buy signals on Friday and Monday. There were 20. There were 13 repeat sell signals. Overall that bodes well for holding the current long picks. However, when I reviewed the 20 buys, the structures were poor. I didn’t like any of them enough to add to the list. It was not encouraging for the broad view.
There’s a dynamic tension here that’s familiar to those of us who have watched markets for a long time. Rarely are the charts cut and dried. “We pays our money and takes our chances.”
Likewise the picks from last week are not off to a good start. I’ve added stops, and now it’s holdin’ and hopin’ time. There are only 3 picks, and if they hit their stops, the losses will be modest.
3/14/22: I would expect a consolidation or correction and would be less aggressive about adding buys to the list for the next couple of weeks.
Table and charts below (subscriber version).
Subscribers, click here to download the report.
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.
