Monday, July 4, 2011

Miner review - AG

First Majestic will be one of my major positions going into Gary's A wave.  The stock is setting itself up for this move, I like that it held above the 50% retrace.  I am expecting most of the miners I will show over the next few days to have one more down move before we lift higher.  Cycle work and T/A are in alignment.  I intend to buy calls but will also sell put spreads on the next OS condition, on the daily, most likely the 15/12.50 August spread, and the September15 call.  I will follow the same trading pattern on all of the subsequent charts I will show on the miners.

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