_________________________
Two things of interest this Sunday evening, if you want to stay off the political stuff, that is…
One, our favorite silver stocks have lots of room to run here, and if you’ve missed the boat previously, or disembarked prematurely, there should be plenty of gangplank for you to re-join the pirate party going forward.
EXK is one of my favorites, since I started talking about it back in the $3 range. It’s amazing how it was nearly given up for dead recently in the big Silver Reversal of 2011, and yet, if you look at it on the weekly, it’s not really had such a drastic downturn after all. In fact, some historians might call this “a healthy pullback.” Check out this weekly chart if you don’t believe me:
I have another Jacksonian I was watchingbubble up last week, and one I’ve told you to own for the long term, as in “passed down to the grandkids.” And no, I don’t mean RGLD this time, although you should hold onto that one too.
No this one is the most hated of the hippies who have decided they are going to keep organic (that means fertilizing with cow dung and pushing a plow behind a team of oxen) as their “gold standard,” the poverty stricken populace be damned. Let them eat heirloom tomatoes, I guess? In any case, there’s a company that’s looking to feed the world through more robust and pest resistant crop yields, and it just happens to have enough IP in it’s coffers to pull that high bar achievement off.
The company is Monsanto (MON), and it’s looking like it wants to breach some serious resistance here on the long term weekly. There is no resistance more powerful — or support more strong — than at the 61.8% long term Fibonacci line. This is a significant line for those looking to go long AND short this stock this week:
As ag stocks seem to be taking off, you want to keep an eye on this one, especially if it manages to break that fib barrier this week. My best to you all, even the hippies.
________________________
Comments »