Weekly Close 11/22/24
New opportunities and updates on a few prior setups...
Newmont options update
Still what I feel like is a good entry zone for this vertical spread trade. Entry is somewhere around $3.60 at this current price.
A-Mark
Hold.
Entry rolled over and from a trading standpoint should have been a stop out for a small loss. Back to the 200dma, now that gold is reversing I will probably ride this for the next week or two and close. It was only half the position I intended to deploy.
RRL - Regis
So far this trade is working as predicted (no change to the chart). We got in only half of the full position. The ASX can be trickier to get filled.
American Pacific Mining (gold)
Weekly breakout on this junior.
SAND - Sandstorm Gold Royalty
PBR.A
Pushing a breakout on PBR. Huge earnings, here’s what the dividend picture looks like. Ex divs in December, you have ~$1 coming.
KRP - Kimball Royalty
I had buy the green circle, still a buy. Big dividends. Ditto on BSM below.
BSM
TOU - Tourmaline
Tourmaline broke out this week. This is major Canadian gas producer with large resources. Bullish tailwinds of cooler than expected winter and talk of deregulating infrastructure, combined with a strong cashflowing earnings and there is reason to believe a strong measured move is coming over the next year or so.
PEY
Same song as TOU different verse.
ARX - ARC Resources… Third verse
EPD
Getting pretty hot at the green dotted line. This is a hold on a buy.
SM Energy
Breakout on SM. This could be a quick trade to $75. This is a Permian company. I’m looking to add a half position next week.
CVX - Chevron Breaking Out!
I will price a synthetic covered call on this guy next week. I think it could yield a fairly lucrative levered return. The roadmap will be similar to the NEM spread.
All these “buy” entries can be bought now or on slight pullback to the trend lines.
Have a great weekend!
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