In this week’s Bulletin, I am highlighting the recent positive action in Uranium shares, specifically URA – the GlobalX Uranium ETF, shown below in both a daily and weekly chart. The key has been recent accumulation patterns confirmed using my own Leibovit ‘VR’ Indicator (shown below with green arrows). Weekly accumulation has been underway for nearly four months as prices rise to the blue 50 weekly moving average (currently at 17). The blue daily 50 day moving average sits at 16.25. As a point of reference, the February, 2011 peak in URA stood at 67.26 and it’s lowest low occurred in October, 2013 at 13.82. My target? I would look for a minimum move to 18.75 with potential as high as 22.00-23.00. I can find no recent news regarding Uranium which I interpret as a bullish sign.
Mark Leibovit is Chief Market Strategist and Publisher for the Leibovit VR Gold Letter and the author of ‘The Trader’s Book of Volume’ which was published in 2011 by McGraw-Hill. You may have recognized Mark as one of the ten “Elves” on Louis Rukeyser’s Wall Street Week television program where he served as a weekly consultant for 7 years and also as a regular Market Monitor guest for 30 years on PBS’ The Nightly Business Report. He is a popular speaker at investment conferences both in the U.S. and Canada and is often seen on PBS, BNN and FOX Business News. TIMER DIGEST Magazine has named him the #1 Gold Timer for the twelve-month period from 8/26/10 to 8/26/11 and for the 5-year period ending 2010. He was also named the #1 Intermediate Market Timer for the 10-year period ending in 2007. Mr. Leibovit was a member of the Chicago Board Options Exchange where he became a market maker in several stocks including Newmont Mining. Through the late 1980s he was Technical Research Director for Rodman & Renshaw and subsequently began publishing several financial newsletters. He holds a CIMA and AIF designation and is a member of the Market Technicians Association (MTA) and the CFA Institute.
A Guide to Our Metal Commentary
Our charts are based on data compiled at the market close prior to publication. If you have questions on our current stops or targets, please don’t hesitate to drop us an email at mark.vrtrader@gmail.com. If overall market action necessitates a bulletin, we will send it out as necessary, but I would encourage you to subscribe to the VRtrader Platinum service which often sends out multiple bulletins each day. Please go to www.vrtrader.com for more information. Charts herein incorporate the common 50 and 200 day moving averages. If you would like access the Leibovit Volume Reversal signals daily, subscribe to my ‘Add-on’ Leibovit VR Indicator from either Metastock or ESignal.
Please note that daily and weekly charts can show different technical patterns. Sometimes the formation of Positive Leibovit Volume Reversals occurs in the weekly charts and not in the daily charts. Just look for the red ‘VRs’ which represent sellers and the blue ‘VRs’ which represent buyers. The blue line in our metal charts represents the 200 day moving average and the green line represents the 50 day moving average. Keep in mind moving averages are only points of reference, but their existence becomes a self-fulfilling (almost like magnets) among traders.
© 2014. Volume Reversal Ventures LLC. All Rights Reserved.
The Leibovit VR Gold Letter is a weekly publication of Volume Reversal Ventures LLC and is offered online via email.
For rights, permissions, subscription and customer service, contact the publisher at vrcustomerservice@gmail.com,
call at 928-282-1275.
Disclaimer: All investments are subject to risk, which should be considered on an individual basis before making any investment decision. Volume Reversal Ventures LLC, the owner, publisher and editor of The Leibovit VR Gold Letter, is not responsible for errors and omissions. This publication is intended solely for information and educational purposes only and is not to be construed, under any circumstances, as an offer to buy or to sell or a solicitation to buy or sell or trade in any commodities or securities named within this newsletter. Information gathered to create this letter is from sources believed to be reliable, but is in no way guaranteed. Furthermore, you cannot be assured that your will profit or that any losses can or will be limited. It is important to know that no guarantee of any kind is implied nor possible where projections of future conditions in the markets are attempted. Hypothetical or simulated performance results have certain inherent limitations as to liquidity and execution among other variables. Some recommended trades may include securities held by Volume Reversal Ventures LLC or its officers or affiliates or family members and their personal investment decisions may be different those discussed or made in The Leibovit VR Gold Letter. Volume Reversal Ventures LLC is not compensated in any way for publishing information about companies mentioned in the financial commentary. All readers should consult their own personal investment adviser before making an investment decision. Copyright © 2013 The Leibovit Gold VR Letter and Volume Reversal Ventures LLC.
