Chess Shares His Philosophy on the Gold Miners

https://www.youtube.com/watch?v=I6p60gHuyu8

Out a piece of JNUG long from yesterday, in real-time inside 12631, for a 15.1% quick win.

I am letting the other piece ride.

If Visa breaks over $213 I will cover my short, and keep the stop very tight.

More on the miners later.

If you enjoy my blog posts and videos, then I would encourage you to please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price. 12631 is a trading service which @RaginCajun and I direct here at iBankCoin.

Enjoy tonight’s video, and enjoy your evening. 

Direct Vimeo Link Click Here

The sector is heating up, with AKS GGB NUE STLD PKX X all having good days, at least.

Drop me your favorite materials plays here. The complex is catching a bid…or at least a squeeze.

On the back of AMZN‘s announcement today, the chart seems to be stuck in neutral.

You can see the tech and consumer leader is below its 200-day moving average still, though the 200-day is rising. However, the 150-day (red line) is declining and failure of bulls to recapture the 200-day soon will likely yield the same fate.

I would look at this chart with a twenty-point bracket, in the sense that I would be constructive over $340 for a potential base bottom and bearish under $320 for another breakdown.

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Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.

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I continues to be a short setup, seen on the first daily chart below threatening an imminent breakdown from well-defined support.

X is a long idea, in which I currently have a position, threatening to squeeze higher from beaten-down conditions up and out of the inverses head and shoulders highlighted, below on the second chart.

What are you trading?

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