CA Canada Color Guard Report for Sept 15, 2015

Canada’s main stock index rallied from an early morning sell-off but still closed the day lower by 45 points or -.34%. Worries about economic growth weighed on most major sectors, offsetting a strong gain in shares of mining companies.

U.S. stocks closed lower today in a volatile session as investors awaited a post-close speech from Fed Chair Janet Yellen at 5:00 p.m. ET. (By the way: Yellen said a rate hike later this year ‘would be appropriate’). The major indexes more than halved losses in afternoon trading. Caterpillar was a drag on the market after a grim forecast and news of up to 5,000 job cuts by the end of 2016.

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TODAY’S TOP GAINERS. Gold and silver miners was the top performing index today, up more than 7% as a group. Our Gold Digger search in the Special Searches Folder was the top performing search today with an average gain of 6.98% and no losing trades. Among top industry leaders: Agnico-Eagle (AEM) up 11.23%; First Majestic (FR) 10.63%; and Barrick Gold (ABX) 10.38%. Drug company Resverlogix (RVX) was the top performing non-miner, up 10.17%.

In the past, it’s often been a good time for aggressive traders and investors to bottom-fish in the gold/silver industry group when the two signals below appear, as shown below in the industry graph. Not always, but quite we can see short-term, explosive gains when the industry group starts to rise as a whole.

1. The average price of all the gold/silver miners has risen above the 40-day moving average on the industry graph.
2. The 40-day moving average has stopped trending down, has rolled over and started to move up.