I have decided to post this week's watch-list on the public blog to illustrate to potential subscribers what the paid service offers to active traders. In addition to the watch-list, I offer commentary and additional charts during the week.
Last week was a strong week in the stock markets with the DOW and S&P 500 making new highs for 2019. The consensus is that everything is great again because the Federal Reserve gave a dovish statement but held interest rates the same for another month. The dovish statement basically indicates that they see strong signs of a recession and have abandoned any real attempt at interest rate normalization. The Fed statement had two effects, the first being a massive launch in the price of gold, which sent many gold mining stocks soaring. The second was that after making new highs, the broad markets rolled over into Friday's market close. My hunch is that this week, we may see further weakening in the broad markets. Regardless of what happens, I expect a lot of volatility in both the general markets and in the precious metal sectors.
Last week, our watch-list performed quite well, with upwards moves in several names including ATA, FLY, KLS, KNT, USA, and several other non-watch-list stocks that I highlighted mid-week. Many of these companies may present further buying opportunities this week so I left them on the watch-list and also added several new names. Here is the list for the coming week (US symbols in brackets):
Argonaut Gold - AR (ARNGF)
AMEX Exploration - AMX - (AMXEF)
ATS Automation Tooling Systems - ATA (ATSAF)
B2Gold - BTO (BTG)
Ballard Power - BLDP (BLDP)
Champion Iron - CIA (CHPRF)
Alcanna Inc - CLIQ (LQSIF)
Dream Hard Asset Alternatives Trust - DRA.UN (DDHRF)
Endeavour Mining - EDV (EDVVF)
Enthusiast Gaming Holdings - EQLX (None)
Flyht Aerospace - FLY (FLYLF)
GT Gold - GTT (GTGDF)
Ivanhoe Mines - IVN (IVPAF)
Jamieson Wellness - JWEL (None)
Kelso Technologies - KLS (KIQ)
K92 Mining - KNT (KNTNF)
Leucrotta Explooration - LXE (LCRTF)
Neptune Tech and Bio - NEPT (NEPT)
Orla Mining - OLA (ORRLF)
Osisko Mining - OSK (OSKFF)
Pure Gold - PGM (LRTNF)
Sandstom Gold - SSL (SAND)
Storage Vault Canada - SVI (SVAUF)
Americas Silver - USA (USAS)
Westport Fuel Systems - WPRT (WPRT)
Westshore Terminals - WTE (WTSHF)
Quite a few of these are gold mining stocks because that sector looks good at the moment, but we also need to be aware that gold is overbought and if it corrects, many gold miners could stall. For that reason, I have included quite a few non gold miners as well. Here are a few charts.
BLDP reversed at a lower level than I expected but finished the week strong and is still a valid set-up. It could be bought right here or on a dip.
I am watching CLIQ for a potential reversal as outlined on the chart.
I highlighted this last week but it is still a buy in my opinion.
JWEL did make a new high and could be bought, but it may not do well if the general markets show weakness.
PTG had a classic breakout with heavy volume on Friday and could be set to run higher.
KLS is similar to FLY, above. It hasn't run away from us so it could still be bought here.
There's quite a bit of volatility in NEPT recently and also heavy volume, so there is definitely buying interest in this company. It has bounced off the the 50 dma a few times which indicates that it may resolve upward.
OLA is new to the watch-list and is just starting to breakout so it could be a good low risk entry right here, especially if gold keeps rising.
SVI is at fairly strong lateral support and it continues to bounce into market close each day. I think it will eventually resolve upwards as well and represents a good low-risk entry. A close below the horizontal blue line would negate the set-up.
USA was on last weeks list and it broke out. I haven't shown a chart of it yet, so here it is. If I were to buy it now I would hope to get in on a small pull-back.
Have a great week!