The TSX Venture has only declined 3 times since March 16th. The devastating bear market of January is being washed away by rising share prices. The current rally is turning into a mega-move for the heavily weighted mining sector as precious metal prices rise and stabilize. Direxion Shares Exchange Traded Fund Trust Direxion Daily S&P Oil & Gas Exp & Prod Bull 3X Shs exploded 20%. Despite gold still trading in the mid-$1200s, silver has broken out above $16 an ounce. These moves seem minuscule compared to the doubles and triples being seen in the junior mining space of late – another reason investors buy juniors to use leverage and speculation to achieve gains.
TSX Venture rallies for 9th consecutive day
The TSX Venture moved 7 points higher to finish the day at 626.92. The Venture is now up 34.3% since late-January when it bottomed at 466. It has been the best performing exchange in the world since this period.
TSX Venture – 1 Month Chart
Returns for Pinnacle members in April can be seen through a rising Venture as even 50th place is a rock solid 13.5% after just two weeks of trading.
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Phels catches fire in April Stock Challenge
Long-time Pinnacle member and past Stock Challenge Champ ‘Phels‘ was feeling all kinds of good Tuesday as oil traded above $42 per barrel and his selection of GUSH (a leveraged oil ETF) rallied higher.
Phels topped all members in April’s Stock Challenge Tuesday with a single-day combined average return of 17.26%.
His selection of Direxion Shares Exchange Traded Fund Trust Direxion Daily S&P Oil & Gas Exp & Prod Bull 3X Shs (GUSH) soared 20% to finish the day at $69.69.
Phels’ combined average return on the month improved to 34.03% – good enough for 12th overall.
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