I don't know, but what I saw yesterday tells me that I better follow carefully the next step of the commodities...
Want to be in gold? check GDX (Gold Mine ETF). No risk of just "one" mine.. Want to take a little bit more risk.. check AAU out?
AAU (Almaden Minerals Ltd)
Fundamental:
1/Recently, AAU discvered some new reserve with High g/t.. Always a good news.
2/Gold price: heaven in this critical times. & no sign of US$ strength... (Watch out 1,5 & certainly 1,6US$/Euro!!!)
3/ A small play near the big ones, such as KGC, GG...So, Always a possible take over.
4/ Short ratio 0.. is it correct?
Technical:
1/Since September, every "major" uptick were supported by "high volume". I consider this as a "tentative" of upbreak...
2/ If the fundamentals remain, then I stay in..
Want to invest in Agriculture Business? 2 choices: MOO or DBA (DBC with gold&oil).
Agriculture Companies? Altough I think that's a little bit early (or late) to go in MOO at this price, I'd look for an entry on a support level such as a 50DMA... I admit I'm personaly inside since 38... but I believe that this ETF should test higher lows & higher highs.. So, it's a matter of finding the waves...
Technicaly, the upside volume of yesterday was quite impressive. 2millions share in a day, while the average is at 700.000!! Was it a "last shot" before a downtrend?
Just want to be in Agriculture commodities? Corn, Wheat? Soybean? check DBA.
You think that food commodities will have an uplift (as I do), with the potential inflation risk. Then I suggest to have a look on DBA ETF. Try to buy near a support 20DMA or 50DMA...
DBC is a kind of DBA with Gold&Oil.
ps: at the time of writing, I'm own shares of AAU & MOO. Looking to add GDX.
Wish you all a great week & don't hesitate to post your comments or ideas.
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