|Day Low/High||59.66 / 61.11|
|52 Wk Low/High||38.17 / 64.88|
The big gains in commodities stocks come to those who jump in when commodity prices are down and forming a bottom, or in the early stages of an uptrend.
Precious metals will likely see a quick response to the Jackson Hole symposium later this week.
The charts show AEM is strong and positioned to head higher.
The market remains muted on the news, with bad headlines leading to dip-buying and good news failing to produce protracted momentum.
These mining names look attractive at this juncture. But do your homework.
Now the focus is on how many more cuts will follow.
Top picks among mining and precious metals stocks and funds.
If this latest market move celebrating the Fed's dovishness is a sustained uptrend, then there will be underlying support fairly fast.
The central bank has made it clear that it is taking the action necessary to extend the current economic expansion.
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.