Just a few quick notes as I am still not in active trading mode. The market – I’ll use the QQQQs as the reference – are trading lower as opposed to where they traded when I exited a few days ago. All the positions I held are trading higher though. The message the market is conveying is an important one. Odds that gold mining stocks and rare earth stocks probably won’t get dragged down along with the markets have significantly increased. That is – if the markets are indeed headed for a down move. The jury is still out. I see and read lots of traders have taken notice of the technical damage the indices underwent and have opted for day trading stocks until the dust settles. My guess is the markets will need at least a few weeks to sort things out.
- VEN.TO – Ventana Gold came out with news and this time around the stock did act very well. The stock’s message is bullish so I might reenter.
- LSG.TO – Lake Shore Gold is printing new all time highs on higher volume. This is another stock I am closely watching. The tape’s message is bullish.
- PX – Pelangio Exploration is looking strong and has almost no overhead resistance. I’m closely watching that one as well.
Have a great evening!