Tuesday, November 21, 2006

Charts of Interest: AUY / SWC / CUP / NEM / KBX

Comments: Now that KBX has breached the 2.35-2.40 resistance, the next target is around 2.67. After that I'd expect some bouncing around beween 2.40 and 2.65 since KBX is now starting to get very overbought in the short term. This chart looks great though, especially after a pullback. I don't hold KBX at the more, but I recommended it to a few (very patient) friends quite a while back and I think it could work out quite well for them eventually.

Comments: I'm a little excited about this stock. After filling the May gap, there's a possibility of a big move up. But it's still risky. Have to keep in mind that they recently announced the resignation of their CFO AND their CEO. Even though no scandal was involved, you kind of have to wonder what's going on. Still, if Copper prices rally in the face of all those people who have been recently claiming that the Copper bull market is over, and if CUP announces any decent new names to fill the places of the departed officers, CUP could be a huge winner and it looks like a speculative buy right here. I hold a bit of CUP in my trading portfolio.


Comments: They keep saying that a platinum ETF is unlikely because the supply is too scarce and so a platinum ETF would disrupt the platinum market. Does that sound familiar to you at all. Bullish on this stock, but I sold today as it looked like it might be hitting the upper channel. But you know me, always selling too early.


Comments: Hankering for a break of the downtrend. It would be helpful if this bellweather stock adopted a more bullish posture. Considering what happend to GG after their recent merger announcement, I actually think that NEM's recently enunciated policy of favoring growth through exploration and addition of smaller pieces rather than rushing towards a big merger is actually bullish for this stock. Investors should at least be assured that the same thing that happened to GG's shareprice won't happen anytime soon to NEM. I'm holding January callsin NEM.


Comments: After a huge run up recently, I expect some consolidation. But eventually AUY could end upa big winner. It's close to its all time highs. Beyond that, the sky could be the limit. Or more precisely, $14. I'm holding January calls in AUY and also have it in my trading portfolio.

No comments: