Summary
Phil Anderson updates the Mexican Pete model portfolio by adding two Australian stocks — Duratec Limited (DUR) and Polymetals Resources (POL) — both breaking out from Mexican Pete chart setups. iShares Silver Trust (SLV) is removed from the U.S. watchlist as it failed to offer a low-risk entry point, with existing GLD exposure deemed sufficient for precious metals.
Key Claims
- DUR broke out above the $1.75 resistance level after a series of higher lows, confirming a Mexican Pete pattern — confidence: high
- POL broke out above $1.00 with supporting volume evidence of accumulation — confidence: high
- Smaller pullbacks in POL’s primary trend indicate buyers stepping in more quickly on each decline — confidence: medium
- Volume dried up on POL’s June–July pullback before surging on the breakout, confirming accumulation — confidence: high
- SLV failed to provide a low-risk entry point despite silver prices rallying as expected — confidence: high
- Existing GLD position provides sufficient precious metals sector exposure to compensate for removing SLV — confidence: medium
Mex Pete References
- Duratec Limited (DUR): Trendlines showed a Mexican Pete-style setup. Stock first tested 1.75 as resistance in 2025 before breaking out.
- Polymetals Resources (POL): Identified as a Mexican Pete pattern. Stock tested 1.00 with a volume surge. Pattern used to identify accumulation.
Stock Picks / Signals
| Ticker | Exchange | Action | Entry Trigger | Stop Loss | Notes |
|---|---|---|---|---|---|
| DUR (Duratec Limited) | ASX | Add to model portfolio (Buy) | Break above $1.75 | $1.60 | Australian watchlist → model portfolio |
| POL (Polymetals Resources) | ASX | Add to model portfolio (Buy) | Break above $1.00 | $0.83 | Australian watchlist → model portfolio |
| SLV (iShares Silver Trust) | US | Remove from watchlist | N/A | N/A | No low-risk entry materialised |
| GLD (SPDR Gold Trust) | US | Existing position — hold | Previously entered | Not stated | Provides precious metals exposure |
Predictions / Forecasts
- Silver prices expected to continue rallying (implied; stated rally was anticipated and has occurred) — no specific price target or date given.
- No explicit future price or date forecasts made in this email.
Notable Quotes
“That’s how tracking Mexican Pete patterns can point you toward stocks that are being accumulated.”
“Silver prices have been rallying as we expected, but SLV has not provided us with a low-risk entry point that allows us to balance risk and return in our favor.”