Check Your Metals
All the focus seems to be around the "big" things today. The chatter is on the indices or commodities or precious metals or Treasuries, but it is general talk. Of course, you can throw Apple (AAPL) in the mix, but AAPL is pretty much its own index of sorts. This will be a good night to look at individual charts and see if there is some divergence in a name or two. However, here we find ourselves testing the 1310 level and it's a biggie. A close under this level and the focus may be more on finding weak charts than strong charts.
Although they didn't get the move I was looking for in the precious metals, I do like the action today. I still favor Pan American Silver (PAAS), but a basket of the minors or adding a speculative name like First Majestic Silver (AG) or Endeavour Silver (EXK) could work here. My favorite gold play had been Royal Gold (RGLD), but even though the chart looks great, I just feel it's too hard to chase here. I may scour the gold charts as well tonight to see if I can find something I am comfortable enough matching with a few silver miners, but for now, I'd rather put a few smaller dollars on the higher beta side of the precious metals....160 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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