Home Stock Picks Prepare For A New October Stock Pick – Mike Swanson (10/02/2019)

Prepare For A New October Stock Pick – Mike Swanson (10/02/2019)

A few weeks ago in September I put on a new position for my list of Top Seven Trading Positions in my private Power Investor group. From that entry point the stock soared over 35% and is now poised to consolidate it looks like for two to three weeks before going up again. If it trades the way I think it will then this stock will likely become my October stock pick of the month.

I wasn’t able to out a new pick like this in September, because I decided to let more of the gold and silver consolidation pattern trade out a bit more first. I’ve been very focused now on the mining sector as my August stock pick in Aftermath Silver soared and so did my July pick in growing mining company Kirkland Lake. I still own both of these stocks.

The stock market also has been in a pause mode that has brought big dumps in dope stocks and the crypto currency markets too. When you combine that with the high profile blow-ups we have seen in the past few months in the IPO market it does seem like a lot of speculative excesses in the financial markets are starting to come unglued.

And this is another reason to focus on gold and silver. Look to see money next year that leaves the small cap dope sector to begin to move into small cap mining stocks. Tax loss selling is going to smash dope stocks in December. Then when January comes and people have cash on hand they will look for the new small cap sector to play. Here is a chart of gold.

Gold and silver are consolidating much like they did from March to June, although it seems likely that this consolidation pattern will take a few more weeks from here instead of months – I’m looking for a turn up in the metals markets to start after next week’s trade meetings or around the October Fed meeting.

If you want to get your hands on this new stock pick now you can get into my private Power Investor group by going here:



Disclosure: Michael Swanson has a position in the KL and owns shares in Aftermath Silver. Because Aftermath Silver is a small cap stock with a market cap of less than $100 million he also is placing himself on a voluntary 30-day trading restriction period from the date of this post in which he will not buy or sell a share of Aftermath Silver stock.