Joel Elconin – Trading Strategies Around The Current March Market Madness
Joel Elconin, co-Host of The Benzinga PreMarket Prep Show and Editor of The PreMarket Prep website, joins us to share some trading strategies around the continued market volatility due to banking concerns and upcoming Fed policy tightening expectations. This is what he has dubbed March Market Madness.
We take a look at the recent moves in the S&P 500 at where Joel sees technical support and resistance levels. Next we discussed the bid that safe haven assets like bonds and gold are receiving in light of the recent turbulence and financial concerns. With regards to the energy sector, Joel has remained bearish on oil and oil stocks and doesn’t see anything on the horizon that changes his views and feels the sector is more fairly valued at present. We wrap up with the trend of investors also rotating into the safety of larger tech leaders with good cashflows.
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Click here to visit the PreMarket Prep website to follow along with Joel’s market commentary.
Hi Dan, I was thinking of selling out at 52 but I just noticed it hit 57. Monday it will move down especially after a gain like that, 44%, WOW! DT
It sure likes those $0.10 explosions upward, I played the upper B band and sold on the way up until $0.51. I did not see a $.057 on it until you mentioned it, 4m sales at the end of day. I hope it goes down Monday, haha. There was no news I could see so it must have got a mention somewhere online.
I have been adding on to my GSVR the last couple of days, the producers like Ex says are the seducers in the early stages especially in the silver market. DT😉
Old news on the property recently purchased by Impact(IPT).
https://smallcaps.com.au/consolidated-discovers-gold-system-plomosas-zinc-lead-silver-project/
Looks like the PM stocks held the TSX.v up to a positive close but still imbedded oversold on the daily.
The 20, 50 and 200mda are all in a knot 10 to 15 points above where it closed today and the 244mda is at 650, that would be a nice target. I don’t know if there is another low yet in this cycle, all IMHO only.
https://www.bnnbloomberg.ca/markets/venture
If you go to % Gainers you will see a lot of mining companies today. #1 – SCZ, #6 – GSVR.
On March the 1st the boys (Cory and Shad) interviewed The CEO of Guanajuato Silver. I almost missed this interview but I’m glad I didn’t, GSVR is starting to “stakk” up. Anyway, here is the link, in case you missed it! OH,OH! DT
DT – Thanks for the kind works for the KER interview with Guanajuato Silver, and for the repost.
Cheers!
GSVR is up more than 30% since the interview on March 1st.
This is the first time in 2 years that gold bulls should be encouraged. The monthly chart now shows an attempt by the 12 month MA to take out the 26 month MA and the upper BB has turned up. You have the Fed speaking next week and if they act dovish in any way watch out. The volume has picked up as well both on gold and the stocks. Also PM stocks are moving inversely to the move down in the dow. One of the flies in the ointment is whether we’re headed for a severe recession. The Fed is quantitative easing when they bail out the banks. They could very easily continue to raise rates while quantitatively easing on the other hand. The next few weeks are about to get very interesting.
Hi Richard, the course of stocks at almost any-time depends entirely on the money situation. The current conditions are so bad with QT or quantitative tightening and QE or quantitative easing happening at the same time that it indicates The Fed is completely lost as what to do next? Current conditions are all about hesitation, what is happening, will we have a severe recession or a depression. DT
Another positive for gold and PM stocks are the fact the dollar looks like it will now be under more pressure technically.
SCZ, Santacruz, friggin’ awesome, sold out on big gains, thank you… also opened a position in HGD, gold beta down, for a short term trade, then I’ll get back into SCZ.
https://schrts.co/uNktbCHn