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As I mentioned in Thursday's update, I was wanting to see a little strength heading into the weekend but unfortunately that did not occur. Several of the companies closed below or very near their stop losses. I have labeled those as "watch" which means they can either reverse early this week or break down completely.
From a technical perspective, it looks like mining companies may be entering a deeper correction but we will also be on the lookout for bullish surprises, as often occurs in strong bull markets. I did a thorough scan of the TSX for good tradable set-ups but to be blunt, there is not much there at the moment. I thought about adding some borderline set-ups but I see no point in trying to force trades. We'll just have to see if something develops as the week progresses. Dropped names this week include Aphria (APHA - APHA) and International Tower Hill (ITH - THM).
"Buy" Charts and Stop-losses:
Have a great week!
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