Overtime

Mailtime

Good morning,

As a reminder, Brown Technical Insights is off all of next week for summer vacation.

That means that today is the last Tuesday of (our) month, where I answer your questions and take chart requests in Mailtime!

Let’s see what you’ve got!

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Questions

What are some of the top individual mining stocks if we aren’t interested in using ETFs?

I’ll give you two, one gold miner and one copper miner.

Within gold miners, I like Agnico Eagle Mines (ticker: AEM). The stock hit a fresh 52-week high yesterday, has broken out vs. the S&P 500, and is a relative leader within its group. 34% above its 200-DMA is a tactical extreme but the 21-DMA (orange line) or 50-DMA (red line) could be used as a trailing stop.

For copper miners, I like Southern Copper. It’s the largest USD-denominated holding in COPX (the Global X Copper Miners ETF), has broken out from a monster base, and is leading both the S&P 500 and its peer group. The risk is that SCCO is closing in on its measured target from the base, but if copper prices continue higher, I would expect SCCO to participate.

What’s the biggest risk to the bull market right now?