BLMN again neared the $10 level, tagging 9.99. Make no mistake - it's not if but when it breaks through this level. Expect a multi-day, powerful move when it does. This move is approaching any day now. Higher prices await in the $12-14 range.
GDX attacked resistance today almost touching $35. There should be another attempt in the next 2 trading days to break over $35. At that point we may look to sell and re-enter. Higher prices of $39 await in May but trading around our positions is something we do if a pullback is expected to be significant. GDX could retrace to $31.75.
Expect the DOW and SPX to try one more time, most likely Monday, to break-out higher. It should fail and a multi-day pull back should ensue giving us the necessary recharge to break 25,000 DOW and 3000 SPX. We will give more of our economic outlook in the Weekend Briefing.
BTC is still in a tight trading range - hard to make money. Oil is rebounding as expected but should not make any large moves until supply abates. Mid-May looks interesting for an oil trade. There will be a lot of money made the next 45 days. Our system has already lined up trades long and short in the stock, precious metals, and energy markets. Be ready.
HFZ