PPR (Pocket Pivot Review)- GIII and precious metals EGO, NEM, GLD, GOLD, IAG, AEM

Published : September 14 2010 at 15:26 ET

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.

This information is provided by Virtue of Selfish Investing, LLC (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2016 Virtue of Selfish Investing, LLC. All rights reserved.