Throughout the call we discussed how we want to continue to profit from this raging bull market in stocks.
The list of participants in this bull keeps getting longer, not shorter. We're seeing more and more stocks going up, more sectors and more countries around the world participating to the upside.
In a market overrun with whipsaws and failed moves, our gold mining trades are holding their breakouts and reaching our initial targets. Not many market areas can make that claim.
Today, I outline multiple mining stocks and highlight critical levels of potential resistance for gold and silver.
From the Desk of Steve Strazza @sstrazza and Alfonso Depablos @Alfcharts
This is one of our favorite bottom-up scans: Follow the Flow.
In this note, we simply create a universe of stocks that experienced the most unusual options activity — either bullish or bearish, but not both.
We utilize options experts, both internally and through our partnership with The TradeXchange. Then, we dig through the level 2 details and do all the work upfront for our clients.
Our goal is to isolate only those options market splashes that represent levered and high-conviction, directional bets.
Welcome back to Under the Hood, where we'll cover all the action for the week ended April 14, 2023. This report is published bi-weekly and rotated with The Minor Leaguers.
What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.
We use a variety of sources to generate the list of most popular names.
There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.
My man Steve Strazza's reaction to this trade idea: "Yes! Bios have got some catch-up to play!"
I concur.
Though, I think we've got some overhead resistance that may slow the roll heading into summer. But that's ok -- we can use that to our advantage with a calendar spread.
In a market overrun with whipsaws and failed moves, our gold mining trades are holding their breakouts and reaching our initial targets. Not many market areas can make that claim.
And when you consider they’re outperforming the S&P 500 and the physical metals, it’s hard not to like these names.
Especially as gold and silver run into logical levels of resistance…
In a market overrun with whipsaws and failed moves, our gold mining trades are holding their breakouts and reaching our initial targets. Not many market areas can make that claim.
And when you consider they’re outperforming the S&P 500 and the physical metals, it’s hard not to like these names.
Especially as gold and silver run into logical levels of resistance…
Gold is knocking on the door of all-time highs after gaining 13% over the trailing five weeks:
