I discussed AUY yesterday just before we saw a massive intraday rotation into the gold miners. If we see follow-through today, I also like the following miners. Note that I am currently long NGD.
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The gold miners have digested their recent rally well. One name that looks especially ripe for a breakotut is AUY. Big hat tip to 12631 member “tksouth310,” who brought this name to my attention inside of our state of the art chat room today.
Obviously, looking at the daily chart of Yamana, price is below a simple resistance trendline dating back to April. That said, it has consolidated in a very tight and orderly way, while strong buyers amass shares. Rather than running up to the trendline and then being turned away, such as what happened around Memorial Day, the stock is simply biding time, preparing to burst through resistance.
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Here are two under the radar stocks that have caught my eye recently, due to the very strong buy volume working in concert with bullish price action.
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The big three casinos, LVS MGM WYNN, have all seen potent breakouts higher over the past few weeks. Needless to say, they are stretched short-term, even though a brief respite might be enough to offer another high probability entry point into them. In the interim, note that many other issues inside the entire casino and gaming industry are acting well, setting up behind the leaders. Unlike the big three, they are not as widely-watched, and could easily see stealth breakouts even if the broad market continues to consolidate this week.
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Pawn (pwn) shops and non-bank credit/cash advance services have been absolute monsters in this market, showing both relative and absolute strength for months on end. Below, I walk you through how weekend research and idea generation inside The PPT can streamline your non-market hours homework.
Tickers Mentioned: $AEA $CSH $EZPW $FCFS
Members of The PPT and 12631 Click Here for relevant industry screen.
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[youtube:http://www.youtube.com/watch?v=4VKy69sE4VY 550 412]
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