The long anticipated major breakout #3 occurred this week, therefore, we are no longer swing trading the ETFs, instead, we are looking at loading up on gold stocks, and for those under funded, a precious metals mutual fund such as RYPMX or your own choice.
Bingo! Our breakout model finally registered BO#3, more than two years after the last one. As suggested a few weeks ago, I have my eyes on a basket of six golden rockets...
RYPMX - folks with smaller accounts may be better with a fund, I strongly advise against penny stocks as they are easily manipulated and very illiquid.
First symbol is US, and second
symbol is Cdn. Single symbol is US only.
I'll be watching for an IP1, which is a TLBBS off the 50ema support, I will send out an alert when that happens. That will be the final confirmation that we are at the beginning of a new bull market. You want to be onboard no later than the IP1.
In the meantime, I'm watching the hourly chart, waiting for it to become oversold, and begin to accumulate as set out in my plan below.
In order to avoid second guessing my trading models, I have no analysis this week. The COT data, the dollar, the Euro, interest rates, are all in a new ball game as the inter-market relationships among them will be changing, and some already have as we witnessed gold and the dollar are rising together while Euro tanked and yield curve steepening...