Official Short-term Investments Thread

[SilverRex]

I posted a high level dollar chart a few weeks ago suggesting dollar is on the verge of a big sell off.

this could be the trigger as dollar is in the process of breaking down from the h&s neckline targeting further downside

[Disoblige]

Would be nice to see DXY back under 100, that's for sure

[SilverRex]

looks like another record volume day on Jnug

second attempt to break gold 1220

[Disoblige]

JNUG 36%+
Let's go China

[SilverRex]

Originally posted by Disoblige
JNUG 36%+
Let's go China

in the past a big day like this are normally met with major profit taking and selling into strength.

but I want this to be the major wave 3 of 3 and we will know this when price continues to push up every single day without pulling back significantly

[SilverRex]

taking a stab at the current count. my wild guess pegs we are in some sort of larger wave iv consolidation follow by a higher high to complete this set of wave 3 off the low yesterday.

edit: the correction so far is 5 waves down 3 waves up, which doent bold well and suggest further downside. gold on the other hand may have already put in 5 waves since the low yesterday. Jury still out which way it goes.

I may buy back my 3rd position if it Jnug drops into the mid 6s or sell my 2nd position near the mid 8s which ever comes first.

[Disoblige]

Look at the decay on JNUG due to all the sideways action over the past couple weeks.
It used to cross JDST at ~12.29.

[jacky4566]

Canada Goose IPO'd today and nobody noticed?
GOOS.TO opened at $23.86 on the Toronto Stock Exchange, later slipping to $22.19 as of 11 a.m. ET.

I feel like they will be around for a while as they have service the high end market for some time among adventurer and posh types. However their stock may be quite boring as a short term trade.

My favorite part of the IPO. The animal-rights group PETA said it plans on buying around $4,000 worth of shares so it can speak at the company's annual meetings and urge it to stop using coyote fur in its jackets. Coyotes.. You know the animals currently over populated in Alberta.

[SilverRex]

just looking at the 1197-1233 move for gold. if the 5 wave completion is indeed in, the min correction should be back to the 38% level at 1219.5

this may be the area I may buy back my miner position depending where it lands.

if miners suddenly churns higher I will be looking to take profit on my other positions. they will have a mental stop loss of gdx under 22.10

if gold breaks above 1230 again, I think uptrend resumes

[SilverRex]

is gold flagging after a big up move yesterday?

I hope so

[KO22]

What does gold flagging mean? Going up/down?

[secol]

pretty sure it's a bullish signal. basically after a big move to the upside, a little bit of healthy consolidation for another leg to the upside

http://www.investopedia.com/stock-an...w20090105.aspx

[SilverRex]

jnug has hit the mid 6s, buying back my position on Jnug at 6.49

[Disoblige]

JNUG is great to get into now. Risk/reward is excellent.

The reason for the dump this morning I believe is a lot of GDXJ options expiry. It was a shakeout, and this is prime time to get in at this price range. $6.60s or so.

[SilverRex]

gdxj

looking at gdxj because it has some pretty clear wave counts. expecting this is a wave 5-5-5 and possible we are in sub iii of (c) with one more low to come. either way we should be near the bottom.

while technically gdxj has overlapped the previous suggested wave 1 top which is a concern, however gdx has not broken it's prior wave 1 at 22.10 and until it does I will continue to take the bullish stance in the miners

[b_t]

Originally posted by Disoblige
JNUG is great to get into now. Risk/reward is excellent.

The reason for the dump this morning I believe is a lot of GDXJ options expiry. It was a shakeout, and this is prime time to get in at this price range. $6.60s or so.

got in at $6.79 .... here we go!

[jacky4566]

Possible head and shoulders for AMD. AMD has been on a hot streak from the Ryzen release but they may be overbought with all the PCMR hype. Too chicken to pull the trigger on my own idea though.
https://www.tradingview.com/chart/AM...and-Shoulders/

[s_havinga]

Pretty boring day for gold today. Looks like I'll be holding over the weekend with my fingers crossed.

[jacky4566]

So whats the plan this week? Oil/MEG still on the decline and Gold looks uneventful. If it had a bigger account you could have made some nice JNUG scalps this morning.

[bspot]

I'm still playing this setup on oil via BTE. BTE didn't get the breakout MEG did last time, so I'm hoping a big pop is yet to come. If oil breaks this trend line, I bail: