Gold Fakeout or Breakdown?

A lot of gold miners are near support or have broken support. Below are a list of stocks that are worth putting on a buy list. I still think there could be one more flush lower when the Federal Reserve announces its taper. As I understand Powell's convoluted language, they will announce that they will later announce a taper, followed by announcing the actual taper date, followed by the start of the taper. Maybe the first two of those will be combined, but I don't expect that. What I do expect is a repeat of the taper tantrum. Last time, rates increase from the tantrum in May 2013 until the start in January 2014. China almost immediately hit a slowdown that would culminate in yuan depreciation and a final bottom for commodities in Januray 2016, led by gold bottom in December 2015. I'm not sure the economy can handle a 2-year slowdown at this time though. The question for a gold investor is whether the Federal Reserve reverses course sooner rather than later. There's still a long way to the bottom if the Fed unleashes another deflationary wave, but how long will it last? Have a buy list ready for whatever assets you would buy in a panic drop or a short, brutal correction similar to October to December drop in 2018.

Newcore Getting Attention

MiningBookGuy has a new video out covering Newcore. This stock has been ultra-quiet. It took me several weeks to buy shares on the OTCBB for my IRA. I tried buying on TSX as well and it was impossible to get filled, the bid-asks were very wide. If more attention comes that'll be great for liquidity. It's still thinly traded here though, so I'd recommend taking small bites at the ask over several days. When liquidity finally comes, it's going to be at significantly higher prices. I posted on NCAU about a month ago when I was running through potential breakout charts. Neither one broke out. NCAU is still in a nice bullish flag though. Volume has been low. The move out of this pattern will be determined by volume and I lean towards the bullish resolution here. The 70 cents area has been solid support. There is no resistance once the high is taken out.

Atico pulled back all the way to its base and bounced. The chart is a bit indeterminate here, but I like the fundamental story. There is a gap at 33 cents, but unless there's a deeper mining sector correction, the 38-40 cent area should hold.

Two More Potential Breakouts

Full disclosure: I own Newcore from below 25 cents. I bought Atico in the past week. Both of these are picks of Jayant Bhandari's. I think I had Atico on my watchlist already, but I know I found Pinecrest, now Newcore, from reading him.

Update: I looked over the ATY chart again and I like these lines better. It doesn't change the outlook.