Is The Silver Trade Getting Crowded? Trader Dan

That is the question I am asking myself today after having some time to analyze its Commitments of Traders report.
Here is the Daily Silver chart:

It has had a nice run higher off the April low near 15.50 after it managed to clear the $16.75 region with conviction last week.  (more)

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Stocks to Watch: KORS, VIPS, GALE

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Michael Kors Holdings Ltd (NYSE:KORS) I'm seeing on daily technical chart a potential falling wedge pattern with a positive divergence on MACD, and they often break to the upside. A close above 62 should be enough to trigger a rally towards the 65 level. Keep the stock on your radar.

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Vipshop Holdings Ltd (NYSE:VIPS) Rallied hard Tuesday on solid volume. If it clears back over 27.02 (50-day EMA), may have some good upside.

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Galena Biopharma Inc (NASDAQ:GALE) Nice move today on decent volume. Traders should watch for a potential breakout over 1.47

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The Top 5 Stocks Held By Congress: GE, MSFT, PG, WFC, AAPL

I’ll be honest — the most popular stocks held by Congress aren’t some super-secret investments…

And they aren’t exclusive investments owned only by those in Congress with some inside knowledge of a future breakthrough.

Instead, they’re large multi-national corporations that make up the bulk of many average investors’ portfolios.  (more)

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Trade of the Day: VLO Valero Stock Looks Like a Steal

Valero Energy Corporation (NYSE:VLO) — This is the world’s largest independent refiner and marketer of petroleum, and it recently spun off its retail business.

In the first quarter, the company reported EPS of $1.87, beating the consensus estimate by $0.20. Average refinery throughput volume increased by 9,000 barrels per day year over year to 2.7 million. VLO’s refineries averaged 92% utilization in Q1, and profit margins widened by $1.49 per barrel.  (more)

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Black Gold, Low-Cost Oil Opportunity

Capitalizing in the oil sector when the price of crude oil is low is a very challenging endeavor. The recent drop in crude oil from $108 per barrel down to nearly $42pb has pulled the share price of most oil related companies sharply lower, thus providing exceptional investment value in some cases.
While the price of crude oil has recovered nearly 50% from March 2015 low with a current oil price around $60pb, crude oil continues to be well below the $95 per barrel 3-year average.
Junior oil shares have seen a wave of panic selling that has many junior shares trading at bargain prices. While this may sound great for long-term investors, selecting the correct companies is no easy task. Let me explain: (more)

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Gold Miners Fail at 200-day Moving Average

Last week we wrote that the precious metals complex had not broken out yet and had more work to do before it could attempt a true breakout. The metals had some more upside and so did the shares. However, the poor performance of the shares this past week could warn of a larger reversal.
We thought the gold miners could rally up to resistance at the 400-day moving average. Instead of pushing a bit higher, their rally reversed course at the 200-day moving average. Note the action since last summer. The miners had a strong rally up to the 400-dma and later recovered to both moving averages when they were quite close in January. This recent rally did not reach the 400-dma and that signals weakness.

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Stocks to Watch: EYES, RMBS, BITA, AAPL, CHK, HIMX

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Second Sight Medical Products Inc (NASDAQ:EYES) The stock closed on Friday above its major EMAs with high volumes gaining 10% over its previous close indicating accumulation of the stock at current levels. The stock appears positive on daily charts and may move up to 15 once it breaks above previous pivot high. The technical indicator ADX is showing a sign of strength, with the +DI line above the -DI line. Further, the RSI is turning up from its support level, while the MACD is showing signs of bottoming. I will watch the stock price next week and add more above Friday’s high.

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Rambus Inc. (NASDAQ:RMBS) has an interesting daily technical chart and could have another bigger move soon. The break of the next key horizontal resistance line with heavy volume should be the next buy point. If price clears resistance at $14.58, the next move may be powerful. The outlook for stock remains positive supported by the major EMAs and momentum indicators. Strong support for the stock exists at 14.08.

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Shares of Bitauto Hldg Ltd (NYSE:BITA) have room for a significant uptick beyond these levels. Volume starts to pick up again. A move above $65.77 could trigger a sharp move higher. Long set-up on watch.

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Apple Inc. (NASDAQ:AAPL) may be setting up to make new highs next week. Next buy area is when the stock clears 133.98 on heavy volume. From a technical standpoint momentum indicators are in bullish zones. The daily MACD is moving above its signal line in positive territory, while RSI is moving up above its 50% level. All major EMAs are rising and the stock is trading above them. For now the bulls remain in control.

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Chesapeake Energy Corporation (NYSE:CHK) should be at the top of your radar screen next week. The 50-day EMA has been proved to be a strong resistance. More times the resistance has been tested, there is good chance for breaking above that point. Technically speaking, I feel that there is a possibility for CHK to go beyond $15.41 next week. Carl Icahn has steadily increased his stake in this name.

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Himax Technologies, Inc. (NASDAQ:HIMX) is finally stepping up after weeks of frustration. The price is building momentum and broke yesterday the downtrend line that it established since January on high volumes with 7.05 as the first upside objective.

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