ONCS Chart Study, Newmont Mining (NEM) Update, Canada's Small Step In A Prudent Direction, Pandemic Of Pension Woes

On Monday, ONCS (OncoSec Medical Inc.) closed above the downtrend shown in green:

Some may find this compelling reason for a technical trade long position.  We're already long ONCS at $0.26 (not diarized in this blog), purely as a speculation.  We've no opinion about the company, its operations or prospects. 

It's been rising on speculation and hype over its Phase II Melanoma Trial.  Typically in this type of situation a stock will keep rising until bad news emerges and it tanks into oblivion.  Of course they might have good trial results and longs could get rich quick.  Here's the corporate site: Oconosec Medical 


Newmont (NEM) has (again) closed below our $27 stop.  Unlike last time, when a fluke delayed us taking this loss and provided more hope, it seems a given NEM will be below $27 in the morning and if so we'll close the position.  Based on Tuesday's close, we'll lose about $1 or 3.5%   We could've booked as much as a 13.5% on it a couple weeks ago, but we were going for a much bigger score given how far gold, silver and related stocks have fallen.

We wrote this a month ago, and it remains our thinking on the topic: "while it's both disappointing and disconcerting that NEM has continued to slide despite stock markets going higher and gold and silver bouncing a little, we're not so much worried for this loss as we are for the remaining long positions relating to gold and silver."

We still hold those other positions, and we're still optimistic that a bigger bounce is underway.  We're not going to hold additional risk via this underperformer however. 

NEM is still slightly above a 12-year uptrend we illustrated on July 10 via the chart below.  We wrote that "those not overexposed to miners or precious metals may wish to hold long above that red line."  Currently that'd mean holding on closes above $25.

Canada takes another very small step in a prudent direction: CMHC cools mortgage market with new cap for banks

Chicago sees pension crisis drawing near

Pandemic of pension woes is plaguing the nation

Pensions implosion is an international problem, as is documented at the Pension Tsunami site.

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