A look into FANG and the Financial sector
Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show joins me today to shares his thoughts on the FANG sector where 3 companies are reporting earnings this week – Facebook, Google (Alphabet), and Amazon. We then switch to the financial sector and assess the overall health of US banks.
Click here to visit the Benzinga Pre-Market Prep Show and listen to the recording of today’s show.
Poker analogy, funny,
I learned alot about playing the jr mining market from poker.
I played for sizable money for years.
Anyway, to beat a card table you only need be better than average, the average card player is terrible.
The article said sumtin about players not even knowing the odds of a hand, thats true.
At least it used to be, havnt played for years now.
UUP (USD ETF) breaking out:
https://stockcharts.com/h-sc/ui?s=UUP&p=W&yr=3&mn=11&dy=6&id=p80229931222&a=633488857
Gold continues its plunge versus silver:
https://stockcharts.com/h-sc/ui?s=GLD%3ASLV&p=D&yr=1&mn=1&dy=0&id=p50299294100&a=577228753
SLV:GLD is overbought but probably heading higher:
https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=1&mn=3&dy=0&id=p72742550027&a=677075872
The weekly chart shows plenty of upside for silver vs gold in the weeks straight ahead:
https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=W&yr=5&mn=1&dy=0&id=p21988216814&a=672788105
IPT needs to essentially double from here to be free of Fibonacci fan (blue) and speed line (red) resistance:
https://stockcharts.com/h-sc/ui?s=IPT.V&p=W&yr=3&mn=7&dy=0&id=p34807476229&a=642296042
Always appreciate your charts Mathew! finally bought some IPT a few days ago. I am thinking or maybe hoping for a consolidation for a few days. Off to the Sprott conference & a visit with Cory if he has the time next week.
Hi Chris – We just might get that consolidation with the Fed meeting now a week away.
Excelsior:
Still absorbing your silver info from a couple of days ago. I have done some buying and readjusting to broaden my holdings. I appreciate the thoughtful comments. I follow them up to learn more and feel more confident in my choices..
Matthew:
Thanks for your confirming charts. They are also extremely helpful.
You’re welcome, David. Silver and especially the silver juniors are likely to accelerate their moves up when SLV clears (on a weekly closing basis) the MA and fork resistance seen here:
https://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=3&mn=7&dy=0&id=p71239023524&a=649322644
Conversely, a failure here could send us on a $1.00 plunge (which I believe would be reversed pretty quickly):
https://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=1&mn=7&dy=0&id=p39672463696&a=633246764
FAG……….N……is toast……..reported lasts week……check out zerohedge…..