Through the Fed’s announcement to create inflation through currency debasement, the US Dollar managed to hold key support levels. While this feat is nothing short of miraculous, we believe the dollar’s days of holding key technical levels are soon to be over.
Currency traders around the world are sizing up the value of the US Dollar (INDEX: $USD) this week. With news on potential Quantitative Easing II (QE2) coming tomorrow, traders expect further dollar weakness. The US Dollar Index is on the verge of a breakdown from a key 3-year support level.
Kansas based Compass Minerals (NYSE: CMP) is involved in the production and marketing of mineral products in North America and the United Kingdom. With the recent announcement of strength in its fertilizer segment, Compass Minerals looks set to breakout of a 3-year cup & handle chart pattern.
Compania de Minas Buenaventura (BVN) recently printed all time highs in share price. The foreign based company is headquartered in Lima, Peru and has assets all over the world. The company is strategically positioned to capitalize on future margin expansion through its gold and silver holdings.
The term “blue skies breakout” applies to any stock moving above all existing resistance levels. Many large cap gold mining stocks exhibit charts nearing all time highs. These stocks provide modest dividends of around one-percent, but you can reasonably expect future dividend hikes as mining profits increase.
Midwest regional bank, Marshall & Ilsley (NYSE: MI, Free Analysis) has been in an 18-month uptrend, riding momentum in the financial sector. After bottoming in March 2009 at $2.96, the stock has experienced a major run up to current levels. Interestingly enough, the stock has experienced major bounces off an upsloping support trendline. A total [...]