By Astrology Traders
The surprising trade of the week was certainly the pullback on Krispy Kreme after earnings. I was on a conference call for two hours Friday morning and was surprised to see my order filled at $13.85. KKD was up over 6% by the time my conference call was over. Now that does not happen everyday! Consider trimming profits near previous highs at $15.
Update on Precious Metals Sector
Gold and silver have made modest gains since the pullback that began near February 11th. I have not changed my view regarding more weakness in March, particularly near March 20th. Gold guru Jim Sinclair is also posting similar dates as mine so the word is everywhere to expect more correction. I have been advising to watch for a bullish move the first week of April and Jim is publishing the same. It seems the rhetoric is to either psych up or freak out everyone. This is becoming like a stand-off between the Hatfields and the McCoys (Bulls vs Bears) so I will advise caution in this sector!
I like SLW for a long position near $27.34.
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Financial Astrology: Initiated Coverage On MTW