|Day Low/High||50.60 / 52.37|
|52 Wk Low/High||32.18 / 50.51|
A dovish Fed will weaken the dollar, which will weaken gold, and vice versa.
It is easy to argue that this market should be rolling over but it is not and that means we stick with what is working which are long plays.
The fact that the strong stocks are mainly index heavy weights is what is preventing an absolute rout of the indices at this point.
We have to wait for APPL's 1:00 pm ET event before we have a better feel where things are headed.
While today's action isn't attractive, we were ripe for a little profit-taking.
We'll see how well the indices hold up when the Powell's press conference starts.
Themes like cannabis tend to persist longer than many think they will.
Strength in Apple and other FANG names are pluses, as are pockets of action in gold mining, cannabis, biotechnology and shipping.
These names are showing technical signs of either bullish or bearish reversal patterns.
Current economic conditions make an even greater case for gold.
Stocks of gold mining companies generally rise faster than the commodity itself.
The chart of PAAS looks positive at this point in time.
AEM is ready to rise, but for how long is unclear.
Two gold stocks to consider in light of market conditions.
Gold and mining stocks are heavily represented on the bear side.
Economic themes remain supportive of upping the percentage of safe-haven assets in investor portfolios.
The surprising advance is approaching levels that have been difficult for the indices.
The gold producer's chart has been supported by buyers for two years.
A rally to the $40-$50 area is our first upside price target.
AEM could rally to the $42 area on an intermediate-term basis.
Too many gold miners and oil/energy companies have too much debt.
Today's gold rally has led me to two interesting gold plays with strong charts.