CPA JOSS

We have been swing trading the bottoming formation in commodities since December and now the formation has matured to the start of a possible trend move. GTLS is a good example of a commodity stock ready to start a momentum trend.  It looks to have put in a bottom formation on strong volume and now is working hard to remount the 50 dma.  Once this level clears a measured move to $45 is in play

Back in December we successfully identified and swing traded the bottoming formation in gold miners, followed by energy/oil/gas in early January.  Often when one or two sectors show this formation, other related sectors will follow. Steel is showing signs that it is the next bottoming formation candidate.  This sector does not have an ETF to trade, so we look to leading stocks like X. Notice

Every momentum stock starts from a bottom formation breakout.  Back in November we started talking about Gold Miners as a potential bottom formation trade.   Study this chart carefully and notice the positive volume as gold miners put in a bottom formation, the remount of the 50 dma and successful hold on pullback.   If you would like to learn more about how I trade, receive my nightly