The following video covers spot gold prices as well as the gold mining sector including some of my top picks as potential long-term trade/investment ideas. As this video is quite lengthy, a brief summary of the items covered can be found in this order: About the first 6 minutes discusses the big picture on spot gold prices ($GOLD) with some comments on the mining sector as well. Starting at the 6:25 mark, I begin covering the daily & weekly charts of some of the most promising long-term trade candidates in the gold & silver mining sector in the following order: AU, [...]
SSRI SIlver Standard Resources) has hit the final target, T3 at 9.18 (recently trading as high as 9.19 so far today) giving this trade a 42.3% gain since entry just over one month ago. Typical swing traders should consider booking full profits while longer-term traders or investors should at least raise stops if planing to hold out for additional gains. While I remain longer-term bullish on the mining sector, this most recent trade on SSRI was based off the 60 minute time frame with T3 list as my final target as, although the stock may certainly continue to climb, the near-term [...]
SSRI Second Target Hit SSRI (Silver Standard Resources) has hit the second price target, T2 at 8.22, for a 27% gain since the entry just 12 trading sessions ago. SSRI is now very overbought in the near-term while at a significant resistance level which is defined by the bottom of a thin zone on the volume at price histogram (60 minute time frame). Although overbought is not a reason in & of itself, especially on this particular stock considering its past trading history, the odds of at least a minor pullback and/or consolidation are elevated at this time. Whether [...]
For those wishing to skip ahead, the following securities are covered in this order: $GOLD/GLD, $SILVER/SLV, SIL, GDX, AUY, GPL, HMY, SSRI, ALIAF, EGO, HL, & KGC.
SSRI (Silver Standard Resources) hit a high of 7.22 (T1) so far today, for a gain of 11.8% from entry. Consider booking partial or full profits and/or raising stops, depending on your trading plan. T2 remains the final target for now although that is likely to be extended to T3 if SIL breaks out as previously discussed. SSRI first profit target hit
With both GDX (Gold Miners ETF) & SIL (Silver Miners ETF) now solidly inside the thin zones, the chances for a continued move higher towards their respective targets is good. SIL gapped just above the top of the R1 downtrend line at the open today and hasn't looked back. With prices solidly inside the thin zone, a continued move towards the top of the zone in the coming days is likely. Any pullbacks to the R2 level [...]
SSRI breakout June 3rd The SSRI (Silver Standard Resources) trade setup posted yesterday has triggered an entry on a break above the downtrend line on the 60 minute time frame. Price targets remain as previously posted (see chart) while suggested stops would be dependent on one's preferred price target(s), ideally using a R/R of 3:1 or better. For those interested in the above average return potential for this trade but leery of trying to catch a falling knife such as SSRI, a tight stop under yesterday's low of 6.28 is an option offering minimal downside risk if wrong (barring [...]