Hi Shoppers,
So we just completed my son’s college orientation.
Two very long days schlepping around campus from one auditorium to another in 100 degree Texas heat.
I am not complaining by any means.
It was fun and exciting.
The people representing the university were very informative, friendly, and fun.
The food was great.
If he plays his cards right, my son is in for a fantastic college experience.
IF he plays his cards right … in the three days we were there, he attended five fraternity “events.”
Parties.
Yeah, I was surprised, too.
They begin the pledging process in the summer before school even begins!
Not being a sorority person myself, all I could imagine was Animal House.
Did you know overall fraternities have a higher GPA than the school as a whole?
That’s right.
And they do a ton of community service.
The Frat provides a great resource for networking later in life and, of course, the men form lifelong friendships.
College is all about that balance of making good choices.
I keep reminding my son, there will always be a party, you cannot attend all of them.
You will have to say no to get your studying done.
You can still have a good time, just maintain that balance.
So, let’s raise a glass and toast the graduates, and pray they make the right choices.
(And finish in four years!)
Now, let’s take a look at my super-cheap trade idea in the gold sector.
Golden Opportunity?
I am seeing a bullish hammer and possibly a double bottom in Kinross Gold Corp (Ticker: KGC):
KGC has traded straight down from $6.34 on April 11 to $3.92 on May 13.
It rallied a bit from there, but has now traded down to that low again on Friday.
Friday’s candle has formed a bullish hammer.
I think KGC can trade back to at least $4.75, which was the recent high on June 2 and the 50-day moving average price.
A great cheap play is in the July 15 4 calls:
They are $.17-$.20 with 22 days until expiration.
I would call that a great, cheapshot in the gold sector.
Trade Review
On Thursday I said Block (Ticker: SQ) was on a breakout. Sure enough it was up 5.5% on Friday. The chart still looks bullish to me. It closed at $71, could still trade $75.
Everything was up around a million on Friday – except Walmart (Ticker: WMT)!!! What’s up with that? I had about a hot second in the first five minutes of trading to sell my calls for a nice profit.
Check out the five minute chart:
I sold my calls for a scratch at the end of the day. Better than a loss and I can always get back in.
Position management – it’s very important!
Thanks for Reading … See You Next Tuesday.
Licia Leslie