Silver Stocks Snap Higher 110607

It was a busy day. The Nasdaq triggered a buy signal on the daily chart after pulling back for three days. The market seems to be consolidating as I thought it might. Heading higher to Nasdaq 3000, by climbing that “wall of worry” seems possible.

NT broke out of a base today, and didn’t look back.

Silver stocks were hot. SSRI, PAAS, SLV, and HL were winners, and will continue to be. Gold stock AUY closed at a new high today. I’m buying metals on dips, and into strength. URZ and CCJ are a couple in the uranium sector that look good.

Momentum stocks JASO, STP, BOOM, and WFR have similar looking moves today, after pulling back the past few days.

Here’s a buy signal I took in UWM off the 60-minute chart. I chickened out though, and sold just over 67.

This short in WYNN worked early in the day. I left about four points on the table. It’s difficult holding on, and staying patient when the market has had so many whipsaws intraday lately.