Some Stock picks for Dec


First Resources, breakout from short term consolidation on high volume. A clean break above $2.00 will mean $2.15 is reachable. This is a bullish chart!


 Jumbo is bullish too, at all time high. It could break out very soon with the textbook consolidation over the last 3 trading days. look for the break at .67


YZJ has already broken out, immediate target of .915 is in sight, followed by gap fill at 0.98. 



Bitcoin on the rise

While the equity and FX markets have entered into a flux during this election period, Bitcoin has quietly been on the rise. While it was once distrusted and not favored, more governments have started accepting Bitcoins for payments. It is now slowly rolling out across Asia, from South Korea to Malaysia to Singapore. The pic below shows what a Bitcoin ATM looks like, something i believe will become even more common in days to come.

I was quite the noob on the subject of cryptocurrencies until recently when i started becoming interested in means of exchange other than fiat currencies. Looking at how India suddenly declared RS500 and RS1000 notes non legal tender overnight, it should serve to remind us that our livelihood in daily transactions depend greatly on the guarantee from the governments. While i am not advocating panic, i think some diversification will not hurt. 

I see 3 main points that can push the case for Bitcoins. 

1) Decentralised exchange
2) Controlled supply
3) Blockchain technology guarding the ability to counterfeit Bitcoins




These points satisfy the use of Bitcoins as a means of transaction, with the additional advantage that no one can intervene the price through supply control.

Next up, let's look at the trend of Bitcoins. Upon hitting a high of 1150 back in 2014, Bitcoin has been flirting with the resistance band in October and November. It has since broken out at a price of 753, and has maintained above the resistance on a daily basis for a few sessions. I believe new support has been found and Bitcoin will challenge 1150 quite quickly. 

SGDMYR

The SGDMYR pair has consolidated for 1 year since reaching the last high of 3.12 in 2015. The pair has since broken out on a monthly basis. For the month of Nov, if the pair stays above 3.05, we can expect much higher prices to come. I see the pair trading at 3.10 region by Dec.


US Market Outlook


The US Market is looking bullish right now, having broken out of the trading channel over the last 3 months. Should it stay above 2180 for the next 2 trading days, 2200 is the immediate target.


GDX Gold Miners ETF Technical Analysis



GDX is in a short term downtrend since hitting the highs at 31.50s. It has since corrected roughly 30% and has traded sideways for the entire month of October. It is still abit early to claim we are out of the woods yet, but a close above 25 will be the initial confirmation that we are done. That being said, we cannot close below 22.50 which is the low of this current consolidation.

Seeing how Gold has made its initial move up in pre market trading, i am bullish on the performance of GDX tonight. If proven correct, this is an early stage of the Gold miner's bull market, We are barely off the lows of the bear market bottom at 12, while GDX easily hit 65 during the last run up. At this point, i believe this is a yummy trade that i dont want to miss.