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Strategies & Market Trends : The Aristocrats (tm) -- Ignore unavailable to you. Want to Upgrade?

To: Julius Wong who wrote (3659)	4/20/2022 9:14:09 PM
From: sense	Read Replies (1) \| Respond to of 5831

Poked at MUX a bit more today... looking less at what the company says about itself than what others are saying about it... and, then... parsing charts a bit more... It's got two notes on it at Yahoo Finance... One is from January 27th included it on a list of 7 penny stocks that might be worth looking at... apparently written by a guy who... is not much of a technical analyst with chart reading skills... but is more looking for "value" plays. Most of his picks have lost ground or done nothing... but, a few, including MUX, do have much better looking chart potentials now than they did in January. The one winner was SHIP... which he picked right as it was moving higher... The other is from back in December... one of the "usual suspects" at Simply Wall Street (the remnant shell of that erstwhile first ever on-line broker, planning on doing IPOs over the internet... in which I was a pre-IPO investor) that appears to specialize in the short trade by writing headlines (for hire) and articles that apply "damning with faint praise" to bash stocks. And it looks like that's the game afoot in their MUX headline: Investors in McEwen Mining (NYSE:MUX) have unfortunately lost 68% over the last five yearsBut, they don't bash MUX at all in the article... or in the linked page they keep on it. They say four of six analysts recommend it... give it solid scores for being healthy and having a big future... and suggest 109% annual earnings growth over a few years... putting in the top end of the industry... say they expect it to be become profitable in the next three years... with sustained annual revenue growth of 16.7 % well above the market averages at 8.6%. On the chart... I've noted it often... that lots of penny miners are showing similar chart patterns right now... the "end (?) of suppression" patterns from the end of last year... inverted cup and handle patterns... rolling lower, then back into positive cup and handle patterns... only they are not all in sync, as ending the short trade and reversing it in all those miners takes time. Some adopt longer patterns taking 3 or four months... others shorter, completing in a month or two. And MUX is one of those... with a symmetric pattern centered on the infamous March 7th... and March 14th... while many others I've seen have the same pattern centered on February 7th... [and, those are now well along in a climb of the right wall of their longer patterns]. But, also a big spread in the scope of symmetry in charts... some well formed, others a bit messier. The MUX symmetry is a solid nested pattern... with unusually high volumes in acquisition in the middle... which to me suggests a still large short interest may be at play... and that might become important (even as upside fuel) if the trade were to gain energy. And, note an abnormally large number of May 20 options... more of them on the call side, but with a spread from $0.50 to $2... and a meaningful combined volume of 345 today... against the puts almost all at $1 with 10,647 open interest... and a volume of 7 today, for the whole range. For August 19, puts all at $1... of 48,917... ? Seems worth watching... But, how it plays out, might depend on its identity... as either a gold miner... or a copper explorer... as, for now, copper is correlated with stocks, while silver and gold are correlated with commodities like nat gas... in opposition to each other... and, in a market that generally lacks any real conviction in any case.. How that plays out is... subject to a lot of influences that might change... as events drive change.