4/4/07 Gold and Some Interesting Stocks: GLD, LMRA, CYMI, MVIS, RIO

Gold made a nice advance today. Let's take a look at GLD (an ETF that tracks gold): GLD has caught the upper BB with strong volume. It might start riding the upper BB up, as we discussed this past weekend in my March monthly review. This may signal the continuing strength in metals.

We were talking about some cheaper stocks in PSW. Let's take a look at a couple of them:
LMRA has made some nice advances for about a week. Its intraday charts (not shown here) are getting a bit toppy. But, it does have a nice rising MACD. So, perhaps after a little rest, it will resume the upward action.

MVIS made a huge jump today!

It not only broke the resistance at 4, it also jumped above the upper BB. A little too much too fast? Maybe. Its daily MAs are bullishly lined up with 10- above 20- above 30-day MA, though. MACD, MFI, and RSI are all strong. So, wait a couple of days; there might be some good buying opportunities.

CYMI got upgraded by Stifel Nicolaus today, along with some other chip equipment companies.

CYMI, among the strongest movers today, jumped $2.88 or 6.93%! It overshot the upper BB and broke resistance at 44. The buying volume was very high. This could mean that there were a lot of shorts in this stock, and sector. We might see some nice follow-throughs here!

RIO is still rising, and Cramer likes it!
It has already caught the upper BB and is riding it up! The nice rising volume is also a bullish sign!

3/31/07 Review (cont.): GLD, OIH

***This is a continuation from the previous post. You might want to start here.

We can't get balanced picture of the markets without looking at some commodities. So, let's take a look at gold and the oil companies.

GLD (an ETF that tracks gold):
It's not very clear from GLD's monthly chart to tell where it is heading next. It managed to close above the resistance at 65.3. The MFI looks like it might be bottoming out. If the MFI starts to go up, GLD could go much higher. The monthly MAs are still going up, although the 10-month MA looks like it may be flattening out. The BBs are narrowing in, so, it may be range-bound.

Let's take a look at the weekly chart and see if we can get a clearer picture.Looks like GLD is riding the 10-wk MA and going up. The MFI and RSI on the weekly chart are curving up, after taking a rest. So, GLD could be going up a bit, but, will probably meet some resistance around 70 or so (it's 52-wk high).

OIH (an ETF that tracks the oil service industry) After months of consolidation, oils might be looking to run again! The SAR just turned up, with a bullish engulfing candle. The MACD, MFI, and RSI all turned up, too!

So, after looking at the monthly charts of Nasdaq, SOX, SPX (SP 500), MDY (mid-caps), GLD (gold), and OIH (oils), the bigger picture doesn't seem all that bad. Looks like we have:

1) a neutral"ish" trend with a bullish bias in the broader markets

2) a neutral trend in the semiconductors that might try to break out, which would give some needed momentum to the Nasdaq

3) money is still in the mid-caps

4) the party in the commodities might be picking up some more hot sauce!