Sloppy day on Wall Street today. Markets off sharply but rallied some into the close. Overnight, markets are looking stronger. But as I said last night, we are at a critical support level and it just barely held today. JNUG and NUGT were both off sharply but rallied to close near their highs. With markets near support with a possibility to break down, it looks like there is a movement to precious metals and oil to hedge against the fall in the markets.
ETE: An oil stock that has been forming a bullish wedge over the last month. A break to the upside should see a move to $14.00 (from $13.05).
AQMS: Stock has been forming a descending triangle over the last month with good consolidation. Today it popped to the upside closing at $10.06. A break above today's highs at $10.14 and I will look to go long. Short term target $12.00.
CEMI: I trade CEMI on a swing trade selling for nearly a $2.00 gain from my entry when it reached my target of nearly $9.00. It is consolidating nicely at this range and if positive news for it comes out of Brazil I would look to see this stock put on at least another $1.00. I will look to go long above $9.00 for a swing trade.
CPXX: Stock opened strong on good news today and then sold off with the markets. But it did rally back closing at $16.63. I am watching for a trade above $17.25 to go long. If so, then my target price is $25.00
CSLT: Trade this stock for good profits in the last two days. I bought the stock on the break out of $4.20 today and sold at $4.80 catching most of the move. It did pull back to $4.39 at the close. I will look to go long on a break above $4.90 with $5.50 my short term target. Shorts, 26 days to cover so they have to be getting nervous and could add a lot of momentum to the move.
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You are welcome. Glad they are helpful.
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