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All Star Charts

Expert technical analysis of financial markets by JC Parets

Monitoring the Relative Trends in Silver Miners

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From the desk of Louis Sykes @haumicharts

Whenever we want to gauge animal spirits in the precious metals space, we resort to our trusty intermarket ratios.

Two weeks ago in our Gold report, we covered the notable bounce we were witnessing in the Silver/Gold ratio, pointing to brewing risk appetite within this space. And this week, we outlined a bullish trade in the iShares Silver ETF off the back of this recent momentum.

But when we take this relationship one step further, we see a similar situation in the relationship between Silver and Gold mining stocks.

[Read more…]

Classic Bull Market Behavior in Credit

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Credit spreads have tightened a good deal since October.

I can’t help but think this is just more classic bull market behavior.

As the major US equity indices have been rallying into year end, we’ve seen confirmation out of a number of credit ratios we track to gauge risk appetite within fixed income markets. Specifically, the the iShares High Yield Corporate Bond ETF $HYG is trading at 52-week highs relative to the iShares 3-7yr Treasury Bond ETF $IEI.

[Read more…]

Ethereum Breaks Out of an 18-Month Base

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From the Desk of Louis Sykes @haumicharts

At this point last year, investors had convinced themselves there was no floor for cryptocurrency prices.

Everyone was losing money.

Crypto firms were blowing up right and left. 

People were letting fear dictate their decision-making process.

Do you remember it?

We certainly do.

[Read more…]

Helium on the Rise

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Now’s the time.

If you don’t have exposure to cryptocurrency in one shape or another in your portfolio, you’re missing out. But, it’s not too late. In fact, we think this is the perfect time to get aggressive.

With Bitcoin above 30,000, this needs to be an area we’re pressing our bets on. When this asset class gets going, nothing can stop it. And now, with all these coins successfully resolving higher out of long-term reversal patterns, we’re of the stern view that now is the time to get involved.

Expect to see a lot of trade ideas out of this space in the coming months…

One such name we discussed at length in the previous cycle was Helium $HNT. In fact, as a fun experiment, the team all tried their hands at Helium mining. But as the tide turned in 2022, Helium was one of the worst-hit names in the entire asset class, falling into a whopping 98% drawdown.

Strazza will gladly tell you he has helium miners all over the Florida Keys that he no longer pays attention to. That’s the right kind of sentiment we want to see at the back of a primary trend reversal.

[Read more…]

Breaking the Mold of Home Country Bias

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From the desk of Louis Sykes @haumicharts

For the longest time, investors in the United States have been rewarded for their home country bias and their overexposure to large-caps and growth stocks.

The secular trend of underperformance from international equities relative to the United States commenced over 15 years ago. Many investors have simply never seen stocks outside the US outperform over any material timeframe.

It’s not a matter of impossibility; rather, our recency bias tends to mistake unfamiliarity for the extraordinary.

A regime of sustained value outperformance isn’t isolated to the realm of fantasy. It was only last year that holding growth over value was nothing short of opportunity cost, while international equities outpaced their US counterparts through Q4 and into the new year.

Recently, Meb Faber joined us on the morning show, where he discussed the topic of international investing. He argued that this is the best time in history to make the value trade, both domestically and internationally.

While there is still plenty of work to be done before we want to favor international equities, it’s a scenario we’d be foolish not to prepare for.

[Read more…]

Stepping Back

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What can we say?

Bitcoin’s absorbing overhead supply.

Our first target was 25,000, and it got hit.

Now we wait.

It’s vital to not let the day-to-day price action drive our execution. It’s driven by nothing but emotion, and it does more harm to investors than good.

We all know this. But it can be difficult to step back when necessary.

Objectively speaking, one of the many elements that differentiate great investors from mediocre ones is the ability to sit out of the market when there are no high-conviction opportunities.

One of our simple workarounds to this constant desire to be positioned is to set our invalidations and targets prior to putting money on the line.

[Read more…]

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