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January 2008, Volume 5 Issue 1 Know It - Profit!
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The AMEX Gold Bugs Index (^HUI) is nearing resistance at its all-time high.
Will this shining index forge ahead?
After a brief pull-back in December, the Trend Oscillator continues to reflect the strong up-trend in gold on this weekly chart.
The Swing Histogram remains in the +100 area... measuring the strength of the up-trend.
The Speed Dots continue to accelerate. Dots above the line forecast further gains.
Look for Gold Stocks to pull back to support before punching to new highs.
What other sectors are profitable? Market Metrics will show you...
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Kinross Gold Corp. (KGC) is a component stock of the AMEX Gold Bugs Index.
KGC engages in mining and processing gold and silver ores, and the exploration and acquisition of gold bearing properties in the Americas, Russia and internationally.
Will KGC break resistance? Or, will it pull-back into a wide trading range?...
On the daily chart, KGC met resistance at the previous high of $21.30.
At the end of December, the Trend Oscillator marked the beginning of the current up-trend.
Additionally, the Swing Histogram reflects the strong up-trend... remaining above the +100 area.
The Speed Dots continue higher, with the latest dot located above the line... a sign of strength.
Expect KGC to trade down to support between $20 and $19 before advancing further.
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Now is the time to define your trading goals for the year.
Then, adjust your stock portfolio, as necessary, using sound chart analysis.
Until next time...
Good trading,
Russ Schmidt, President
Stock-Charts-Made-Easy.com
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Stock-Charts-Made-Easy.com is not an investment advisory service, a registered investment advisor or broker-dealer and does not imply or suggest which securities you should buy or sell. You should always check with a licensed financial advisor and/or tax advisor to determine the suitability of any investment.
It should not be assumed the technical indicators, analysis techniques or trading methods presented in this newsletter will be profitable or that trading decisions based on their use will not result in losses. Past results are not necessarily indicative of future results. Examples presented in this newsletter are for educational purposes only. Any trade set-up illustrated is not a solicitation to buy or sell a security. The author, publisher and any affiliate linked to this newsletter assume no responsibility for your trading results. Remember... there is a high degree of risk in trading.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
