The market
The Russell 2000 (the IWM) had a very strong move up last night, up 1.37%, but the other major indexes were flat. The Nasdaq was up just a pinch at 0.13%, but the S&P 500, the industrials and the transports were all very flat last night. Gold and the bonds were down.
The SPX stayed within the 30-minute-opening highs and lows for the whole day. The Nasdaq also stayed within its 30-minute opening range for the whole day. The Russell 2000 broke above its opening high and was a great day trade. Why was the Russell 2000 so strong? Ex-FBI Director James Comey appeared before a senate committee last night and it now looks increasingly unlikely that President Trump will be impeached. That means that he might be able to implement some of his trillion-dollar infrastructure-spending promise. And which index would benefit the most from that? The Russell 2000! It has a lot of growth stocks, and moved up substantially last night. Also It appears there could be a hung parliament in Britain. So far it’s had minimal impact on the UK market, but the longer it goes on, the worse it will get.
The sectors
The financials were up strongly last night, 1.15%. Technology was up a little, 0.23%. IBB (the bio-techs) were up 0.6%, but all the other major sectors were flat to down. Banking stocks, which belong to the financial sector, did pretty well and that’s where you needed to concentrate your efforts last night. You could have done a nice trade on Goldman Sachs, which got as high as $221. The reasons financials had a good night was because the US House of Representatives got rid of the Dodd-Frank rules governing Wall Street. Trump wanted those gone.
Going forward …
Looking at the Nasdaq on a 30-minute chart, you notice a very nice squeeze. Is this about to fire to the upside? I think it could. I’ll be watching it. One way to play that would be to buy call options in QQQ. A lot of the Nasdaq stocks are looking good, including Facebook and we currently have a trade on that. Google and Amazon also look strong. The UK election is out of the way and James Comey has spoken to the senate committee. Those events are past, so will the market now move higher, particularly the Nasdaq? The Nasdaq has logged its 38th record this year, the most since 1999. We know that the 2000 tech crash followed 1999 but prior to that the Nasdaq kept moving up.
Tonight I think the Nasdaq wants to have a move up. My focus will be on the 30-minute squeeze. Tonight the elite students and I will focus on ideas within that index.
To Sean Allison web site 12: 30 am Sat 10 June 2017
GOLD, SILVER, PALLADIUM AND PLATINUM prices are consolidating with upward bias intact.
Supplies restrained in absence of major discoveries in precious metals, middle east conflicts, multi-generational/existential conflicts escalating, North Korea continuing ICBM/nuclear threat , China’s Mach 10 missile development /war games to take out US aircraft carriers and military build-up in the man-made islands of South China, sovereign nations, China India, Russia, Middle Eastern’ s Central Banks gold purchases, and including without limitation overhang of gold and silver paper shorts may in the foreseeable future be taking profits or covering to manage their geopolitical and USD currency/commodity risks, as the bottom in gold bullion price had held well at USD 1200 -1150/oz, 1040/oz levels (contrary to another guru’s USD 700/oz prediction), on probabilities will drive precious metals, Gold, for example, to >USD $1,350/oz initially, and Silver >USD $20/oz.
For leveraging, I like junior emerging gold silver producer/ explorer SANTA FE GOLD CORP (SFEG:US) at around US $0.10 (10c). Once its financial report expected soon, comes out, followed by drilling results confirming its high expectations and plans to commence production within 6 months’ time frame from 3 mine complexes, its price trajectory can expectedly be powerful, even parabolic.
BHP and Rio Tinto certainly think SFEG’s region in south western New Mexico and south eastern Arizona as highly prospective volcanogenic massive stratigraphy endowed with porphyry / epithermal and /or intrusive gold related systems to have pegged some 20 square miles around SFEG’s leases and discoveries.
SFEG has experienced and skilful management led by president/CEO Tom Laws (TL) metallurgist and CPA accountant, who has worked in senior positions with major miners Phelps Dodge, Kennecott Copper Mining over 40 years.. Since recruited by the CFO Frank Mueller in June 2016, TL had accumulated mine complexes in the aforesaid regions with resource estimates of 53 million tons, grading 9gm /ton to 87 gm /ton, equivalent to multi million ounces (ozs) of gold and silver.
Don’t be surprised if SFEG over the next 12- 15 months repeats its multi bagger price performance that it did when it shot up from a low of $0.0005 in June 2016, within one month, to a high of $0.06 in July 2016, an uplift of 12,000x or 11,900% gross profit!
Current issued capital: around 295 million fully paid shares.
To Sean Allison web site 12: 30 am Sat 10 Jun2e 2017
GOLD, SILVER, PALLADIUM AND PLATINUM prices are consolidating with upward bias intact.
Supplies restrained in absence of major discoveries in precious metals, middle east conflicts, multi-generational/existential conflicts escalating, North Korea continuing ICBM/nuclear threat , China’s Mach 10 missile development /war games to take out US aircraft carriers and military build-up in the man-made islands of South China, sovereign nations, China India, Russia, Middle Eastern’ s Central Banks gold purchases, and including without limitation overhang of gold and silver paper shorts may in the foreseeable future be taking profits or covering to manage their geopolitical and USD currency/commodity risks, as the bottom in gold bullion price had held well at USD 1200 -1150/oz, 1040/oz levels (contrary to another guru’s USD 700/oz prediction), on probabilities will drive precious metals, Gold, for example, to >USD $1,350/oz initially, and Silver >USD $20/oz.
For leveraging, I like junior emerging gold silver producer/ explorer SANTA FE GOLD CORP (SFEG:US) at around US $0.10 (10c). Once its financial report expected soon, comes out, followed by drilling results confirming its high expectations and plans to commence production within 6 months’ time frame from 3 mine complexes, its price trajectory can expectedly be powerful, even parabolic.
BHP and Rio Tinto certainly think SFEG’s region in south western New Mexico and south eastern Arizona as highly prospective volcanogenic massive stratigraphy endowed with porphyry / epithermal and /or intrusive gold related systems to have pegged some 20 square miles around SFEG’s leases and discoveries.
SFEG has experienced and skilful management led by president/CEO Tom Laws (TL) metallurgist and CPA accountant, who has worked in senior positions with major miners Phelps Dodge, Kennecott Copper Mining over 40 years.. Since recruited by the CFO Frank Mueller in June 2016, TL had accumulated mine complexes in the aforesaid regions with resource estimates of 53 million tons, grading 9gm /ton to 87 gm /ton, equivalent to multi million ounces (ozs) of gold and silver. Don’t be surprised if SFEG over the next 12- 15 months repeats its multi bagger price performance that it did when it shot up from a low of $0.0005 in June 2016, within one month, to a high of $0.06 in July 2016, an uplift of 12,000x or 11,900% gross profit!
Current issued capital; around 295 million fully paid shares.
Disclaimer All information is of general nature, not tailored to the readers’ specific individual financial circumstances, needs and wants. Do your thorough due diligence as this is highly speculative stock, subject to volatility and left field events. Consult your financial advisor before acting on the aforesaid information. You may lose part or the all your investing funds with all speculative stocks notwithstanding the possible high monetary returns that may be achieved.
Disclosure: My company and associates are substantial shareholders and engaged in capital raising (up to 10c) for the company earlier in the year. We are long term SFEG supporters.
Disclosure: My company and associates are substantial shareholders and engaged in capital raising (up to 10c) for the company earlier in the year. We are long term SFEG supporters.