Chevron (CVX) - Nearing Buy Zone

Written by MrStockFox. Posted in Trade Ideas

Back in Feb of this year, I went long with a position in Chevron when it approached the bottom of the above channel.  I then indicated on the blog that Chevron was approaching overhead resistance and sold my position in June around 131.  Well folks, CVX is now approaching the bottom of the channel again.  I view CVX as a buy around 115-117.  I will most likely pick up around 10 shares at this level.

Should CVX breakdown from this channel then the next likely support would be around 107-110.  Any further decline I would personally use as a buying opportunity. 


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Rick Rule: I Think We Are Seeing A Bullish Transition In The Junior Gold Miners

Written by MrStockFox. Posted in Interviews

>>Inteview With Rick Rule (MP3)

Full Transcript:

During a time in which few investors are considering the possibility of a recovery in natural resources, Rick Rule, Chairman of Sprott U.S. Holdings was kind enough to share a few comments.

Speaking towards the overall market Rick noted that, “The market itself is very healthy. You are seeing a transition…a transition that doesn’t suggest, but rather screams that [junior resource issues are] under accumulation—which is a very, very bullish sign.”

When asked if the current recovery might outperform the early 2000’s recovery, Rick indicated that, “[S]tatistically, this market shows it can be done because the bear market that preceded this bull market was a bear market that was more severe... bear markets are the authors of bull markets, and the recoveries in some way, shape, or form are related to the declines.”

 

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