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Patrick MontesDeOca
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Published Technical Analyst, Author, Commodity Trader, Systems Developer, Algorithmic Intelligence, Computer Modeling of Processes. I custom build Proprietary Artificial Intelligence for each individual client's portfolio needs. After more 30 years in the business, Patrick MontesDeOca has... More
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Vedic Codes of the Stock Market Volume 3 – ETFS
  • Weekly Metals Stocks. ETF's Weekly Report For August 13, 2012 0 comments
    Aug 13, 2012 9:28 AM

    By Patrick MontesDeOca

    The August (Comex) gold contract closed at $1,623. The market closing above the daily 9, 18 and 36 day MA's on a weekly basis is confirmation the trend momentum is bullish.

    With the eurozone showing signs of contracting despite Germany's economic growth it increases the probability of more monetary stimuli such as QE3 is necessary to save the world economy from falling deeper into debt levels that are unsustainable .

    The financial system is beyond the point of no return and without any prospects of world economic growth. This could have potentially devastating consequences to an already broken system if we go to war with Iran. The explosive impact this could have on world precious metals prices like gold and silver could be unprecedented...to read more click HERE

    With the market closing above the weekly VC Weekly Price Momentum Indicator of $1,620 is confirmation the trend momentum is bullish. Look to take some profits if long as we reach the $1,633 to $1,643 levels early next week. If stops are taken out here, we could see a rally up to the $1,680 to $1,700 weekly resistance levels.

    Buy corrections at the $1,610 and $1,594. levels to cover shorts and go long on a weekly reversal stop. If long use the $1,610 level as a SCO/GTC ( Stop Close Only and Good 'Till Cancelled order).

    Let's take a look at some metals stocks and ETF's and see how they compared to the yellow metal.

    GDX - Market Vectors Gold Miners

    The GDX (Market Vectors Gold Miners) ETF closed at $44.85. The 52 week Range is: $39.08 - $66.98

    The market closing above the 9 and 18 day MA's on a weekly basis confirms the momentum is bullish.

    With the market closing above the VC Weekly Price Momentum Indicator of $44.20 confirms the trend momentum is bullish.

    Look to take some profits if long as we reach $45.55 and $46.26 levels early next week.

    Buy corrections to $43.49 to $42.14 levels to cover shorts and go long on a reversal stop. If long use the $42.14 levels as a SCO/GTC ( Stop Close Only and Good 'Till Cancelled order ).

    PHYS - Sprott Physical Gold Trust ETV

    The PHYS - Sprott Physical Gold Trust ETF closed at $14.11. The 52 week Range is: $13.03-$16.86

    The market closing above the 9 and 18 day MA's on a weekly basis confirms the momentum is bullish.

    With the market closing at the VC Weekly Price Momentum Indicator of $14.08 confirms the trend momentum is bullish.

    Look to take some profits if long as we reach $14.18 to $14.26 levels next week.

    Buy corrections to $14 to $13.90 levels to cover shorts and go long on a reversal stop. If long use the $13.90 levels as a SCO/GTC ( Stop Close Only and Good 'Till Cancelled ).

    GLD -SPDR Gold Trust ETF
    The GLD - SPDR Gold Trust ETF closed at $157.20. The 52 week Range is: $148.27-$185.85

    The market closing above the 9, 18 and 36 day MA's, on a weekly basis confirms the trend is bullish.

    With the market closing below the VC Weekly Price Momentum Indicator of $156.91 confirms the trend momentum is bullish.

    Look to take some profits if long as we reach 158.09 and 158.99 levels next week

    Buy corrections to $156 to $154.83 levels to cover shorts and go long on a reversal stop. If long use the $154.83 levels as a SCO/GTC ( Stop Close Only and Good 'Till Cancelled order).

    AGQ - ProShares Ultra Silver

    The AGQ - ProShares Ultra Silver closed at $39.42. The 52 week Range is: $34.45-$127.08

    The market closing below the 9, 18 and 36 day MA's, on a weekly basis confirms the trend is bullish.

    With the market closing above the VC Weekly Price Momentum Indicator of $39.38 confirms the trend momentum is bullish.

    Look to take some profits if long as we reach $40.51 and $41.61 levels next week.

    Buy corrections to $38.28 to $37.15 levels to cover shorts and go long on a reversal stop. If long use the $37.15 levels as a SCO/GTC ( Stop Close Only and Good 'Till Canceled order).

    AG - First Majestic Silver Corp.

    The AG - First Majestic Silver Corp. closed at $17.25. The 52 week Range is: $12.12-$25.56

    The market closing above the 9,18 and 36 day MA's on a weekly basis confirms the trend is bullish.

    With the market closing below the VC Weekly Price Momentum Indicator of $17.13 is confirmation the trend momentum is bullish.

    Look to take some profits if long as we reach the $17.62 and $17.99 level next week

    Buy corrections to $16.75 to $16.26 levels to cover shorts and go long on a reversal stop. If long use the $16.26 levels as a SCO/GTC ( Stop Close Only and Good 'Till Cancelled order).

    SLW - Silver Wheaton Corp.

    The Silver Wheaton Corp closed at $30.64. The 52 week Range is: $22.94 and $42.50

    The market closing above the 9, 18 and 36 day MA's on a weekly basis confirms the trend is bullish.

    With the market closing below the VC Weekly Price Momentum Indicator of $29.78 is confirmation the trend momentum is bullish.

    Look to take some profits if long as we reach the $31.74 and $32.83 levels next week.

    Buy corrections to $28.69 to $26.73 levels to cover shorts and go long on a reversal stop. If long use the $26.73 levels as a SCO/GTC ( Stop Close Only and Good 'Till Canceled order).

    PSLV - Sprott Physical Silver Trust

    The PSLV Sprott Physical Silver Trust closed at $11.43. The 52 week Range is: $10.87 and $21.83

    With the market closing above the VC Weekly Price Momentum Indicator of $11.40 confirms the trend is bullish.

    Look to take some profits if long as we reach the $11.53 and $11.62 levels next week.

    Buy corrections to $11.31 and $11.18 levels to cover shorts and go long on a reversal stop. If long use the $10.74 levels as a SCO/GTC ( Stop Close Only and Good 'Till Canceled order).

    Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in AG, AGQ, PSLV, SLV, GLD, GDX, SLW over the next 72 hours.

    Additional disclosure: Precious metals products trading involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results.

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