• AEM - Jul 30 201420140730
  • AU - Jul 30 201420140730
  • AUQ - Jul 30 201420140730
  • CORN - Nov 17 201420141117
  • EGO - Jul 30 201420140730
  • GDX - Sep 08 201420140908
  • GFI - Aug 28 201420140828
  • GG - Jul 30 201420140730
  • GLD - Sep 10 201420140910
  • $GOLD - Sep 10 201420140910
  • HL - Jul 30 201420140730
  • HMY - Jul 30 201420140730
  • IAG - Jul 30 201420140730
  • KGC - Jul 30 201420140730
  • NEM - Aug 29 201420140829
  • PAAS - Jul 30 201420140730
  • $Platinum - Nov 21 201420141121
  • PPLT - Nov 21 201420141121
  • SGG - Nov 21 201420141121
  • $SILVER - Aug 05 201420140805
  • $SIVLER - Sep 02 201420140902
  • SLV - Sep 02 201420140902
  • SLW - Jul 30 201420140730
  • SSRI - Jul 30 201420140730
  • WEAT - Sep 03 201420140903


Long-term Trades- Setups

Long-term Trades are trade or investment ideas that have the potential for significant returns over a longer-term period, typically several months or more. This category of trade ideas might be useful for the longer-term swing trader or investor looking for investment ideas to supplement their existing portfolio and prefers a less active, more hands-off approach to investing.

Nov 212014
 

PPLT (Physical Platinum Shares ETF) offers an objective long entry on this breakout above the bullish falling wedge pattern. T1 is the sole target at this time with additional targets likely to be added soon, depending on how the charts play out going forward. Suggested stop below 117.64 or higher if targeting only T1 although longer-term traders & investors might consider a scale-in strategy with higher price targets & wider stops.

With the $USD still in an uptrend and GLD currently still attempting to solidly take out the 115 level, more conservative traders & investors might opt to wait for those aforementioned events (dollar reversal & a confirmed GLD breakout) to occur before establishing a position. We’ve also yet to see a confirmed, end-of-day breakout in $PLAT (spot platinum prices) although keep in mind that the spot charts below are EOD (end-of-day) and reflect yesterday’s closing prices. Platinum futures are currently trading up nearly 2% so a close above the downtrend line on the daily spot chart below today is likely, barring a reversal into the close.

Daily chart of PPLT along with the daily & weekly charts of $PLAT (end-of-day spot platinum prices) below. Besides PPLT & futures, there are several other options for trading platinum although these are all thinly-traded ETFs: PGM, PTM, PLTM, LPLT, & SPPP. Click here for information on PPLT.

Nov 212014
 

SGG (Sugar ETF) will be added as an Active Long (swing) Trade & Long-term (investment) Trade here around the 41.45 level with a suggested stop slightly below the recent low of 39.55. Targets TBD. Daily chart of SGG and weekly chart of $SUGAR (spot sugar prices) below:

Nov 172014
 
CORN daily Nov 17th

CORN daily Nov 17th

As I’ve spend some time away from my desk over the last few weeks, there are quite a few trade ideas in need of updating. As most of these trade updates are not time sensitive, email notifications will not be sent out on the remainder of the updates.

CORN (Corn ETF) hit the second price target last week. Although the odds of a pullback and/or consolidation around this level are elevated, T3 remains the final target at this time. As prices are still trading in close proximity to the Consider booking partial or full profits and/or raising stops, depending on your trading plan. If holding out for T3, an objective stop would be below the 25 area (assuming an entry on the wedge breakout). Updated daily chart shown.

Sep 112014
 

As a follow-up to the previous post with the $CORN (Spot Corn Prices) weekly chart, below is the 5-minute chart of US Corn Futures as well as the weekly chart of CORN (Corn ETF), highlighting the current volume surge which is indicative of a selling climax.

click here to view the live, streaming chart of US Corn Futures. Once the page to Investing.com opens, from the top of the chart select: Instruments/More Instruments & then “U.S. Corn Futures” under the Commodities section.

Sep 112014
 

$CORN weekly Sept 11th

In the most recent update on the CORN (Corn ETF) Long-term Trade idea posted last week, it was stated that CORN had broken the 25.60 support level (below the recent consolidation range) which would likely open the door for a move down to the 340 major support level on $CORN (spot corn prices). Since the original post on the CORN trade idea back on July 28th, I had highlighted two likely scenarios for $CORN: either a bounce from around where $CORN was trading at the time OR a continued move down to the 340 level in which not only bring corn prices down to a key long-term support level and that we would also likely have strong bullish divergences in place on the weekly PPO when/if prices got there.

Although the chart of $CORN (spot prices) is an end-0f-day (EOD) chart, not updated until after the market close each day, I’ve been watching US Corn futures today and so far they kissed a low of 335.87 just a few minutes before I started working on this post and have since reversed sharply so far. Of course the day is still young but regardless of any short-term gyrations, we now have corn prices at key long-term support while extremely oversold (the weekly RSI 14  on $CORN was at an extreme level of 23.73 at yesterday’s close). We have the strong bullish divergences forming on the PPO as well as volume patterns on CORN (corn etf) that are indicative of a selling climax (ditto for WEAT, which I will cover under a separate update).

After stopping out the recent Active Long (swing trade) on CORN last week, I am going to add CORN back on as a new Long Trade idea. I also believe this is an objective area for a new entry or add-on to an existing position for the CORN Long-term Trade idea (investment) that was initiated in the July 28th post.

click here to view the live, annotated weekly chart of CORN

Sep 102014
 

GLD 60 minute Sept 10th

GLD is now within 65 cents of the aforementioned 119.50ish support level while rapidly approaching the apex of this 60 minute bullish falling wedge pattern, complete with positive divergences in place on the RSI & MACD. An upside break above the pattern would likely propel GLD to at least the 122 area, possibly higher.

Sep 082014
 

Starting with the longer-term picture for gold & the gold mining stocks, I will be waiting to see how $GOLD (spot gold prices) close out the week as $GOLD closed right on the nearly 13 year long-term uptrend on Friday, a key major support level. As with all weekly charts, it is the end-of-week (Friday) close that matters as intra-week spikes below support are not unusual.  As mentioned in the past, should $GOLD make a solid weekly break below this long-term uptrend line, that would open the door for another test of the mid & late 2013 double-bottom lows, the next major support level for gold. A link to the live, annotated weekly chart of $GOLD is available on the Live Charts page and can also be viewed by clicking here.

$GOLD weekly Sept 8th

Moving down to the 4-hour period of GLD that I’ve been covering lately, following last Tuesday’s gap below the symmetrical triangle pattern (bearish), followed up by Thursday’s failure upon backtesting the triangle pattern from below (additional bearish confirmation), prices are likely headed towards the aforementioned 119.50ish support area before any significant reversal. Therefore, my best guess for gold prices in the near-term, Continue reading »

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