PPR (Pocket Pivot Review)- GIII and precious metals EGO, NEM, GLD, GOLD, IAG, AEM
GIII showed a pocket pivot yesterday and is still in a buying range today.
GIII has shown excellent earnings and revenues over the past few quarters, and posted a gap up recently on a strong earnings report.
As we have mentioned in reports dated 8/18 and 8/25, some precious metals stocks were looking good. Today, we see a continuation of this trend as EGO, NEM, GLD, GOLD, IAG, AEM are all pocket pivoting, some for a second time. That said, remember that these precious metals stocks are often best bought on pullbacks, as they tend to take 3 steps forward, and 2 steps back in many cases. So in the case of NEM, for example, if this is your second buy, position size based on your risk parameters. If it is your first buy, you might only buy a half position here or wait for it to pull back closer to the 10dma.
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