On Commodity Stocks
Gold, silver, copper, and other commodity and energy stocks are beginning to show strong chart patterns, and some have broken out of potentially powerful formations. Here are a few stocks mentioned in the last two market reports.
Some of this movement is simply because certain stocks were oversold; however, there is also an infrastructure play at work. The new President-elect is planning on passing a stimulus plan that includes rebuilding certain segments of the infrastructure. This will require increased supply of commodities used in producing the needed materials.
Agricultural related stocks are also acting well, as food is always in demand. This includes companies involved in the growing, cultivation, processing, and delivery of food products.
As the charts below show, certain energy stocks are performing well. This entire stimulus package will require large sums of money; and the more money and credit created – the more gold and silver will respond in kind.
Peru Copper (PCU)
Pan American Silver (PAAS)
DB MultiSect Agr (DBA)
Anadarko Petroleum Corp.
The full market wrap report is available at the Honest Money Gold & Silver Report website. This week's report contains thirty charts & graphs, including six individual stocks on the stock watch list. Stop by and check it out.
Good luck. Good trading. Good health, and that's a wrap.
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