What a week it was. My head is still spinning. With gold and silver breaking out and following through and now coming into some resistance to the US markets holding up great then looking like they wanted a little consolidation then seeing many leading stocks rush higher later Friday afternoon.
We had some stellar earnings reports this week, and some not so stellar. I try and steer clear of trying to trade over those earnings report days as the fast, very fast, leading stocks I trade in my swing trading portfolio simply move too much on earnings.
If it works out for you than its great, but if not, then it can be disastrous when we are talking 18% gains or even gains as much as 6% or 8% can be devastating as a gap will form and often in leading stocks the gap simply will never be filled. And of course the inverse can be true if the street dislikes a company’s numbers
With leaders breaking out Friday afternoon and really the markets not doing much it gives me great encouragement for our near-term swing trading future.
Leading stocks lead the market in term of timing, and especially in terms of gains.
Last week I had taken gains in all our swing trading positions for great gains. Unfortunately it appears I took them too early as we would have had a nice run this week. I did not hold any new positions into this weekend as the ones I tried quickly didn’t work and it looked like a market correction was due also.
You can’t win ‘em all but I’ll be here ready for the next buy point.
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On that note, let’s move into our precious metals charts who did exceptionally well this past week.
Metals review
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