Today we saw some follow through to yesterday’s timing signal turning bullish. While I realize that there are any number of reasons to doubt this rally (wars, natural disasters weighing on economy, window dressing, light volume)…I could probably keep going, we must remember that price is always king. The Dow Jones Transports are confirming this move with with a new yearly high (barely…by like 1 point) and the VIX is an afterthought as volatility is nil. We’ll most likely trade between yesterday’s low and the resistance level that I market below on the Nasdaq chart below. We sure could use a couple of days of churn to digest recent gains.
Oil & Gas Equipment/Services: BHI NOV GLBL RES
Refining: WNR FTO
Drilling: ATW MHR
Oil & Gas: DNR COG GPOR
Farm: DE MTW
Pharma: ACHN ALXA ARIA ENDP REGN VRX
Pure Momo: OPEN RAX TZOO LULU SFLY PANL VHC
Deep down I still think precious metals are going to correct but I’m just going to stay away from that trade as every time I try to time the metals I get burnt. All things Oil seem to be where it’s at with a few other sectors that are really outperforming everything else. Above I’m including some of my favorite sectors with a few individual names I like. Use your own market timing within these names are some are clearly overbought, but are worth monitoring for a decent pullback entry.
Here is a simple question for you: which would you rather buy right now, gold or silver?
Gold has incredible amounts of emotional baggage attached to it, while silver is in a different league – at least for the moment. This video will show you two indicators that can help you capture either market when and if the upward trend decides to resume.
With all of the world’s troubles, there are plenty of reasons why one would think that both of these markets should be much higher. The question is, why aren’t they? I think that the video you’re about to watch will help answer some of those questions.