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On the One Hand… On the Other… (GLD, SLV, GMCR)
There have been some tremendous developments in the precious metals’ market this week and we’re therefore obliged to start our discussion there.
To begin, let’s just say that the jump higher in both gold and silver last Thursday was exceptionally large and equally unexpected. It caught a tremendous number of shorts off-guard and also spurred a good bit of independent buying. But whether or not it marks a final bottom for the three-year bear market in the PMs is a question whose answer we don’t yet have. We’re perfectly ready to jump back on the gold bandwagon if the technical evidence is on offer and advises as such. But for three full years, it’s been absent.
Let’s see what it says now.
We’ll start with silver, because the chart there is somewhat easier to read.
Here it is –
This is the iShares Silver Trust ETF (NYSE:SLV) for the last six months and it shows clearly a bullish break above three of the four most important moving averages in just the last seven trading sessions (in red). Two of those MAs were hurdled in a single day, as SLV rallied nearly 5% late last week.
But we should be quick to point out that Thursday’s wild climb on six times average daily volume (in blue) also put SLV’s Relative Strength Indicator on bed-watch, so to speak (in black). That is, we’re now flirting with a strongly overbought (+80) RSI read, and that should temper the buying, at the very least, over the near term. In a worst-case scenario, we could see a strong round of technical selling based solely on RSI.
If that, indeed, does happen – if price action moves back below the 274 day moving average and heads toward the key 137 day MA, we’ll lean toward last week’s price explosion as having been a short covering event and little more.
But if price stabilizes here above the 274 DMA (and that’s what MACD readings are indicating, having pushed above their midway waterline just last Friday) we should be in for a run higher to the long term (411-day) moving average, now at $22.65 and falling.
What about Gold?
The setup for gold is a little more complicated, mostly because she’s less temperamental than her silvery stepsister. He moves are less dramatic, produce a more muted technical reaction, and are therefore harder to gauge.
Here’s the SPDR Gold Trust (NYSE:GLD) for the last six-months –
GLD’s pop in price came on equally impressive volume, brought the metal above her same three moving averages, but didn’t set off the RSI alarm bells (in black) as silver did. The move was slightly more modest, at only 3.5%, and doesn’t look as endangered, technically, as silver.
Additionally, we may have an island reversal pattern (in red), a formation generally associated with a longer-term change in trend.
Taken together, that could mean imminent upside.
Warning: precious metals bears are going to have to tread VERY carefully here, as longer-term trend changes are very often presaged by technical bursts of the sort we witnessed last week.…
Breaking Through With 3D Pioneer Printing, Inc (DPSM)
New paradigm-shifting industries like 3D printing always give birth to huge stock market winners, with 3D Systems (DDD) and Stratasys (SSYS) as the current sector torchbearers. While the competition among big-cap market leaders usually grabs the spotlight, related businesses invariably emerge with innovative ways to leverage a breakout technology’s growing acceptance and success. Today I want to bring your attention to one of those companies in the 3D printing space — 3D Pioneer Printing, Inc.— trading under the symbol DPSM.
By way of background, 3D printing refers to the process of making a solid three-dimensional object from a digital model, also called “additive manufacturing.” With 3D printing, an object is created using successive layers of material, laid down in different shapes to form the final product. Beyond the flashy headlines about guns and human skin being 3D-printed, it has already become an especially “disruptive technology” for a wide variety industries. In fact, it can completely restructure the way products are made, leading to efficiencies—along with bigger profits— for those companies adopting this revolutionary new approach.
According to Wohlers Associates, a consultancy firm, the market for 3D printers and services was worth $2.2 billion worldwide in 2012, up 29% from 2011. Ultimately, however, the size of the 3D printing marketing is expected to dwarf those numbers relatively quickly, because the technology has such a wide-range of applications. Some of these include engineering, healthcare and a rapidly expanding, diverse array of manufacturing tasks. Even the bellwether financial publication Forbes has said that 3D printing will ultimately have a “radical impact” on every industry.
Following the meteoric rise of 3D printing companies that have targeted the manufacturing needs of big businesses, several young companies began battling to bring 3D printing into the home. One of those is 3D Pioneer Printing, Inc., which has developed a simple “plug and play” software application for consumers to be able reap the benefits of this breakthrough technology either at their own businesses, or in their homes.
With the goal of bringing 3D printing to the mainstream consumer, the company has developed a flagship product called Appaloza. The Appaloza application, developed by company Chief Technology Officer Mark Flores Martin, is a cloud-based platform that allows users to manage a 3D printer from anywhere there is internet access. Just like iTunes allows you to buy songs, movies and games, Appaloza allows you to print the 3D products of your choice, remotely.
If you’re thinking how great that would be, but asking how you might actually be able to “manufacture” the object, 3D Pioneer Printing has the answer. They’ve developed a printing machine called the Wyatt, specifically designed to seamlessly interface with the Appaloza application — for which the patent alone could put this company on the 3D printing map for good.
It’s hard to grasp the game-changing economic impact a 3D printing system like this could have. In essence, individuals and smaller businesses would be able to “manufacture” what they want, ending their reliance on overseas exporters. Especially in light of the fact that 3D printers can already forge tennis racquets, shoes, belts, golf tees, pens, screwdrivers, hammers, knives, and yes, even functional guns.…
Could This Mean The End of the Road for Tesla (TSLA)?
We’re going to get to our weekly trade involving Tesla Motors (NASDAQ:TSLA) in just a moment.
But first a word on Ms. Martin.
Indulge us, Willard.
Ahh, Ms. Martin.
Just the thought of the old wrinkled wretch is enough to make us want to careen off Cliffside Ridge on our way home from work.
She was a woman without sympathy, that Clementine Martin. A high school English teacher to whom we owe so much, and yet whose very name conjures in us a chilling dread.
Who was Lady Clementine Martin?
It must be said that, to her credit, the old widow was steadfast in her demands, and refused to take any half-arsed effort from any of her students. She had an uncanny ability to know if one was working at full stride, or merely cruising on native ability. And that’s probably why I despised her. She called me out regularly for not revising, rewriting, reworking or otherwise thinking a second or third time about what I’d written.
“Now, Huey,” she’d say with a cruel little smile, “you’re not the same lad today that you were yesterday, are you…?”
“No, Ms. Martin…”
“Well then, how can you live with what you wrote yesterday, little Huey? Why don’t you take another look at it, and give it back to me tomorrow with another 200 words appended.”
“Yes, Ms. Martin…”
“Yes, Ms. Martin?”
“Please make it better.”
“Yes, Ms. Martin.”
It’s from old Ms. Martin that we first learned the virtues of thinking twice – maybe of thinking at all (if we can be accused of that). The old gal was the first to apprise us of the virtues of “thinking about what we thought” simply by taking a piece of our writing, circling a sentence or two that we’d scribbled and writing “see me” in the margin.
It was later, in her office that the barbarity of the woman was fully exposed.
She’d point to the sentence in question, look at us with the same querulous smile and say in a whisper,
“Huey… do you really believe this?”
“Huey, is this sentence at all sensible? Look at it.”
What generally followed was several minutes of tortured silence (in which the old orange blossom no doubt revelled), followed by a sack of sixteen-year-old stammering, a minute or two of intense brow furrowage, some squelched tears (when I thought the writing was already lucid) and then my discovery, or Ms. Martin’s revelation, of what needed to be changed.
In the end, of course, the ‘humiliation’ was good for all concerned, despite how it was then received by a know-it-all teen who preferred to be out at football practice. It gave us our first exposure to the notion that one must regularly examine and be ready to reconsider everything one previously thought or believed. But perhaps more importantly, Ms. Martin was the first to instill in us that most cherished of life lessons – that an openness to being wrong and making mistakes is only worthwhile if one commits to changing course and navigating in the right direction.…
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