The bulls are continuing their impressive performance today, with plenty of individual issues continuing to set up and break out on solid volume. At the same time, it is not quite the “everything screaming higher in unison” type of market that we saw early last fall. Indeed, stock picking skills are being rewarded here. In particular, the gold space is attractive. I am playing AAU right now, and have my eye on several other miners that are poised to breakout as well.
Below, the 3 minute intraday chart of the SPY shows a pretty smooth drift higher today, with some strong buyers coming in around noon. Hence, swing shorting remains a very tough proposition.
_____________
too late on AAU? Seemed to BTFO according to Cagin.
I would buy partial position here instead of all at once.
Thanks Chess!
Indeud!