Few charts from today - please double check close as they were taken in the morning.
GRR - one for longer WL for a breakout above to 0.29. Has been basing along nicely.
HCH - Nice volume and close today. Eventually whoever is offloading at 3.5/3.6 will run out of ammo. Gold copper play, just completed placement at 0.03 with a nice reaction coming out of halt so I assume alot were scaled back. Drilling porphyry 622m at 0.6% Cu recent hit. Other hits include 90m at 1% cu and 0.4g/t gold. Sitting at about $40Mcap.
ISX - One of the fundie favorites. Broke out again on volume (Blue arrow) although not the ideal close so doing a little backtesting around this region. Can see the two shakeouts lower down (yellow arrows)
WAF - Very solid close and significant volume. Looks ready to breakout soon one of the few serious gold contenders yet to really have a large move with the move in gold price. 300koz first year production, ridiculously low AISCof under US$600/oz, that's about $840 profit per ounce produced. 45% through construction.
WZR - Just basing along. One for WL for coming weeks for a pop. Very similar setup to NET (see below), but still needs a little more time to soak out sellers.
ST1 - no chart but I have an active tip on it, 52wk highest close and 52wk highs on third highest volume.
Fundamentals;
One of my key shells OVL in halt now for an acquisition so I'm quite excited to see what will come out there with a class register, I've been waiting for a whole year I think...and have waited similar lengths for CR1 and MSE which are two other shells I hold. Looking for one of them to multibag.
With multiple hot commodity sectors I'm also seeing stronger dealflow coming through in specs. Some recent ones; RVR one of the larger players in zinc space acquired a gold project. SFR has made a move to acquire MOD. They've also been buying heavily (approx $6M into ADT between $0.95-1.09). For specs, OAR has acquired a gold project. MQR has acquired a rare earths project KTA has acquired a rare earths project CHN acquired nickel project - this was a low EV high cash shell. HCO acquired uranium VML acquired rare earths LIN acquired bauxite RFR acquired tungsten. Out of the ones I've looked at so far. HCO has my interest. I like the project, but they're heavily hinged on Uranium performance, so I think this will make for a good purchase only if Uranium really shows signs of going. So right now will just wait and watch from sidelines.
VML trading cheapest of REE projects could do well from here, RFR aswell feels quite cheap given 80% of plant construction done and fairly advanced tungsten project with raise done at premium. But the issue with RFR is Everblu is involved, so makes it quite risky from corporate side - after what happened with HDY.
But really there are plenty of sectors firing (charts below on particular sectors) dealflow should continue. What I think will do well is a fresh Iron Ore asset for market to back. IO price up 180% since 2016. FEX up 500%+ since they dropped the acq. so goes to show a moderate asset can do quite well, but haven't seen many IO acquisitions made since. Best performers for acquisitions so far I've seen has been IO (Just FEX), gold (MEI I hold a very small amount) and REE.
Macros:
XJO - looks to be following line of exponentiation (purple). I'm looking for a breakout through the current flag like base its making. Did a very similar break in February this year. Weekly XJO shows it is extended and approaching with minimal upside, however markets can continue firing months on, with RBA going for another cut aswell they'll be looking to prop things up as long as possible.
XEC: Beautiful pullback, and reversal making its way through major resistance zone - which originated from the crash on Feb 6th 2018, followed by the breakdown of lows in September which led to the major market bleed out.
In my New years reflection the one improvement I wanted to make is to be able to change from aggressive to passive stance and adjust better with rhythm of markets. So with this breakout upwards I continue being aggressive, holding tighter, lettings stocks run and bag, taking larger positions and being less in cash. Good time to be trying to buy and hold the next set of bulls. This time hopefully I'll also be ready to do the opposite a bit faster if markets do decide to turn.
DOW WEEKLY: This is another chart I like. Its not quite there yet. But constantly improves. If it can push through this supply zone, what we've seen is a 518day + consolidation, what will follow will likely be a very strong bull run imo - and very possibly (at least I think) the final leg of the bull. Fed will continue to let this bull run as long as they can, or at least until powell can hand over the reigns to let someone else take care of the consequent mess.
In terms of sectors; This is the sectors I'm really enjoying. Gold;
XAUAUD - brilliant pivot off the 20day. Reversed and likely will continue pushing
Other than the DOW weekly. This is another great chart to look at. Perhaps many feel this gold move is already extended. However if we do zoom out, what you will notice is XAUUSD has just pushed through in a major breakout - so the run can really continue for quite some time.
Iron Ore - Only thing I can add to this is rumours are going around that Brazil government is auditing other Dams so this squeeze can go much further if more projects are shut. I think it was Morgans than expects $116 price. So another 6% or so until their target is reached.
REE: The trump weapon China has against US (No pun intended). China controls 90% of REE's and even a higher percentage of reserves and production of Heavy REE's. Some good coverage and articles posted on this thread that I've been reading and following up on.
Copper: At support, emerging out. It's why I do like Copper-gold plays, makes for a good hedge. If gold stagnates the other is emerging off support and cyclical lows. If copper stagnates from trade war escalation, likely gold is running.
Cheers everyone, Markets have been good so still on hunt for more STT comp tips in future.
(20min delay)