Wall street has was off most of the day today. It seems to be consolidating around its all time highs. It is healthy for it not to go straight up. JNUG and NUGT, the gold ETFs, both continue to be strong. The are trading at short term resistance but at the bottom of their upward channels. Looks to me like gold is going higher based on the the trend of these ETFs. From my call of the bottom for gold in February, JNUG has gone from $20 to $350. And as I say, it looks to go higher into the $450 range.
EXK: Silver stocks have been very strong of late. The stock broke through resistance today on a nice break out trading as high as $5.73 and closing at $5.67. The stock has lots of strong momentum and is trading near the bottom of its upward channel. I would look to go long the stock above $5.73 with a target of $7.50.
HILT: Stock broke through resistance today at the $3.65 level and closed at resistance on the descending tops line at $3.95. I would look to go long the stock above today's high of $4.20 with a price target of $4.80. A break through that resistance and $5.75 is the target. Shorts, 12 days to cover.
MEET: Stock continues to move up in a nice stair step pattern. Today it added to its move yesterday closing at $7.96. It really is a swing trade with a target of $9.00 and then $10.00
USAT: Stock broke out above it multi-month base level at $4.75 a few days ago and has been trending up nicely closing today at $5.07. Stock is trading at the bottom of its up trending channel. I would look to go long above the day's high of $5.17 with a price target of $6.25.
*HLIT :)
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