ERO Copper (TSX:ERO)
Planetary declination often quietly plays a role in trend change turning points on stocks. A case in point is ERO Copper (TSX/NYSE:ERO).
ERO made its first trade debut in Canada on Oct 19, 2017. At that time, Moon was within a whisker of being at 0 degrees declination. So too were Venus and Mars.
Since the 2020 Covid-panic lows, ERO has had a powerful run to the upside. But, in May 2021 the momentum ran out of steam at just shy of $30. My first inclination at seeing this was to look at planetary declination. Were any planets at declination levels that had a curious resemblance to the declination levels in play at Oct 19, 2017 ?
It turns out at the May 2021 high, Moon was near its maximum declination. So too were Mars and Venus. Wow! That’s a curious enough resemblance to grab my attention!
As of here and now, price action has declined a Fibonacci 38.2% of the total price gain from March 2020 to May 2021.
I seldom try to get out in front of a stock with wild-eyed predictions of when and where price will start going up again. When I see the trend change with an astrology connection, I let the trend run its course. I monitor trend using the Welles Wilder indicator called Parabolic Stop & Reverse (PSR). I make a couple tweaks to the parameters of the indicator and then wait for the next trend change. When I see the PSR signal a trend change, I will confirm that there is an astrology influence also at work.
I will be closely watching ERO in the coming days for an entry point to get long.
And by the way, on June 15, 2021 ERO started trading in New York as well. That date had Sun at 120 degrees to where Sun was at on Oct 19, 2017. That date had Sun at 90 degrees to where Mars was at on Oct 19, 2017. June 15, 2021 had both Sun and Venus just a bit off their maximum declinations.
Is all of this a coincidence?
No it is not. Welcome to the world of astrology where patterns are hidden in plain sight, visible to only those who understand basic astrological science. This is the kind of stuff I write about in my subscription-based Astrology Letter.
