This week I only dropped a couple of names off the list, including EFN and AEM. EFN was removed because it has broken down, while AEM was removed because like FNV (last week) I have decided to keep it exclusively as a portfolio stock rather than include it here. There are plenty of other gold mining stocks that are more appropriate for quick trading, so we can focus on those. I did not add any stocks this week because we have enough going on with the current watch-list to keep us busy. I have changed the order of the list as well this week. Moving forward, I will be putting the "buys" at the top because those are likely the companies that traders will be most interested in to start the week.
This week, we have ten "buys" but there are many stocks that I labeled "watch" even though they are also potential buys with a little more follow through. Some of those include: HSE, ASR, GGD, ABX, SVM, NVA, PAAS, ESI, PAAS, FLT, and META. Some have made reversals and few have even completed a swing low but in some cases they have not yet broken above their down trend-line yet. Because the corrections in both energy and gold have been relatively shallow thus far, it is good to wait for a clear break of the downtrend before buying. In contrast, when a correction has been deep, typically a swing low or even a reversal is enough to generate a solid "buy" signal.
Have a great week!