PPR - Vale S.A. ADR (VALE) Flashing Pocket Pivots - VALE

Published : September 23 2010 at 10:27 ET

Brazilian mining stock Vale, S.A. ADR (VALE), which we believe is pronounced "vah-leh" is pocket pivoting right here on the heels of two pocket pivot buy points over the prior two days as it has cleared the top of this little consolidation. With precious metals stock performing very well, we would look to mining stocks like VALE to do well as cousin stocks to the precious metals group. This looks good here, with the idea that it should hold the 200-day moving average. We own a 10-15% position in VALE currently - small by our standards, but that could change.

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