Tuesday, June 2, 2015

Charts I'm Watching -- $TNK, S&P 500, US Dollar, Silver, $SSRI

I'm back from four days away. While I was away, we saw Teekay Tankers (TNK) rally to a 52-week high ...
The volume on Monday's surge was 4.4 million shares, about 4 times normal. And no news ... yet. Somebody knows sumpin'.

If you're a subscriber, you know my bullish thesis on tankers, particularly TNK and two others.

We know that ...

I continue to be bullish on oil tanker stocks.

Other charts ...
(Updated chart)

It sure looks like the S&P 500 failed its breakout from the Danger Zone. However, the uptrend still holds.

Meanwhile, the US dollar continues to be a juggernaut.

(Updated chart)

Silver and gold are both disappointments, though silver had an interesting day yesterday ...

(Updated chart)

Note how there was huge volume -- silver and gold actually bolted higher at the open yesterday -- then it spent the rest of the day giving it back. Bitter disappointment.

That said, check out SSRI, another $10 Trigger Alert recommendation ...

(Updated chart)

SSRI looks much better than the underlying metal. It's in a bullish and improving uptrend.

That's all for now. Have a great week.

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