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Action was in the A’s today, as in Ass-kicking Agriculturals and AG and AU stocks. If you were playing close attention to my Prometheus Unbound post of last Wednesday, you are a happy dog tonight. Mentioned almost at the very bottom of that post is AAU, which I noted looked coiled for a takeoff. That prophesy was fulfilled today…
Note the blast off at the concentration of both the 20- and 50-day EMA’s? Now look at the last time those two lines came together to form a launch platform, back in August. Auspicious, no? But the best is yet to come, and I think it’s soon, as the weekly reveals:
Note that AAU has a bit of work to do to break final resistance. We may not make it there on this first run, so you flibberty gibbet traders may want to take that first line as an exit point if you feel we’re not breaking through. There could be a bit of consolidation at the $5 mark as there is with many of these precious metal miners. I’ll probably use that moment to accumulate.
Does that strategy sound familiar? It should, as it’s exactly the one I employed in tearing off great hanks of EXK for my later consumption and nourishment. These smaller miners tend to follow a similar pattern of skepticism and volatility, until they break through that infamous $5 barrier for good, and are then considered “mature” enough for institutional play. I think AAU is very close to that status. Pay it heed.
I’ve one last “A” stock to leave you with tonight, and no, it’s not AGQ, or even AG, AEM or AU though those stocks are certainly weurthy (and should be considered with this reading). No, tonight’s last plug is The Forgotten Jacksonian, humble Mr. Anderson — ANDE– which has calmly and quietly broken out to all time highs and the coveted “free air” of newly traversed ground. I like it on a retrace of this weekly breakout, and soon:
I will be around only sporadically tomorrow as I must attend to some heart rending family business. My best to you all in these fecund and opportune times.
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