Official Short-term Investments Thread

[themack89]

I'd still be buying NG here. Within the next month the further it gets to 3.80 level the more aggressively I would buy.

Manage your money though, stay nimble and don't make your leash too short.

[kaput]

.

[nobb]

Might be a good time to pick up some HNU. Hasnt been this low since May.

[djfob]

I'm steadily buying hnu as it goes down. The upside will be worthwhile.

[SilverRex]

not sure if this is worth a look, but I just realize the similarities between the USD/CAD currency pair and UNG.

the only two things that they might be in common is the fact they are both trying bottom, correct then take off. So far the outlook on USD/CAD is that as long as 1.100 holds, cad is ready to make a strong up move in the coming weeks (which might imply the strength of the USD greenback)

If that is the case, then UNG is not too far doing the exact same thing. Even just based on the two charts, are we to expect UNG to at least rebound back to the 7.8 area? we will soon find out,

while the technical out look on UNG has suffer greatly, we are only a mere weeks away from entering a strong NG season. So lets hope what I spotted today is indeed what to come, otherwise it would be quite difficult to watch NG plunge further, for all our NG bull sake, lets see a reversal here, and soon.

http://i278.photobucket.com/albums/kk118/genmaster/CAD-UNG.jpg

[e36bmw///]

nm

[997TT]

So after exiting EAS I've been sitting tight.
Until now

Order of BNK-T just filled at $7.02. Looking to sell in mid-7's for 7-9% gain.

[Neil4Speed]

Any thoughts on OPC (Opti Canada), Seems like they have been having a few problems of late with their Long Lake Project, but once Nexen and OPC get it working properly it should be a very viable project.

It dropped ~20% yesterday.

http://www.google.ca/finance?q=TSE%3AOPC

[SilverRex]

ok lets look at some charts today,

lets start with gold, now that we are in the middle of august, gold has not really taking a path down to a newer low, and as such I might be convinced that gold's bottom may be in, and we are simply moving in a first 5 legs up, which should be followed by correction, then that might be it. For now I'll view 1190 as the support to hold gold up, gold is obviously ready to embark on another run up this fall.

http://i278.photobucket.com/albums/kk118/genmaster/gold081210.jpg

[SilverRex]

and for oil, from my last few post, I have been calling for oil to top out no higher than 83 and since then it has done so well selling off daily, the confirmation came when 80 oil did not hold, which triggered another round of technical sell off, 10/20 EMA is about to cross over for further bearish signs, next fight will be 75, I dont expect this to hold for too long either, the sell on rallies is now in full gear.

I'll at least look for oil to head back to under 70 over the coming weeks. once price get under 70 we will then start looking for a bottom.

http://i278.photobucket.com/albums/kk118/genmaster/oil081210.jpg

[SilverRex]

and finally the dollar, I said dollar is near if not at a bottom and quite ready to take off, confirmation came when it broke above 81, and not only that it also broke pass 82. I believe the dollar is also near a short term top and may reverse for a correction then resume upwards. be prepare to buy on dips

http://i278.photobucket.com/albums/kk118/genmaster/dollar081210.jpg

[SilverRex]

ok im going to sneak Natgas in there as well, as mention in my latest that Natgas is not out of the woods at all, MACD has crossed over, so does the 10/20 EMA, so the bearish path that we are in the final wave .iii of (v) may still be in play (according to most EW experts) and yes worse case we can make a dive to new lows under 3.8 if this happens it will present an extremely bargin buying opportunity because as cycles pointed out, NG is nearly ready to embark on a great really.

but given strong NG season is only a few weeks away, my original view that the low has been set months ago can still be fulfilled, but my recommendation is to stand a side and at least wait for price to take out 4.65 to technically kill the count of a further low, then this will bring back the bulls. so keep this in mind.

http://i278.photobucket.com/albums/kk118/genmaster/Natgas081210.jpg

[troyl]

Gasfrac energy went public today symbol "GFS". They are a well service company, which uses lpg for fracing. We build their equipment, pretty interesting technology. Just thought I would give you guys a heads up.

[djfob]

Originally posted by Neil4Speed
Any thoughts on OPC (Opti Canada), Seems like they have been having a few problems of late with their Long Lake Project, but once Nexen and OPC get it working properly it should be a very viable project.

It dropped ~20% yesterday.

http://www.google.ca/finance?q=TSE%3AOPC

I've taken out a healthy position in it, definitely a longer term hold to see any results though.

[997TT]

picked up some CNQ this morning at $33.89

hoping to flip at $36-$37 in a 2 week window.

i'm fkd if oil tanks with ST positions in BNK and CNQ. lol

[Neil4Speed]

Originally posted by djfob


I've taken out a healthy position in it, definitely a longer term hold to see any results though.

I think your right on that, Their debt is someone a concern, but hopefully when Long Lake starts producing to its full potential, OPC will be worth about $2.



Originally posted by 997TT
picked up some CNQ this morning at $33.89

hoping to flip at $36-$37 in a 2 week window.

i'm fkd if oil tanks with ST positions in BNK and CNQ. lol

Good call on the CNQ, seems to have overreacted to the drop in oil prices, I think your flip value is about right too.

:thumbsup:

[nobb]

Originally posted by 997TT
Order of BNK-T just filled at $7.02. Looking to sell in mid-7's for 7-9% gain.

Is that a good idea? Isnt BNK related to petroleum prices? I was going to wait until oil prices settle down before buying shares in this. Look's like their share price isnt doing so well after oil prices started to drop this week.

Still itching to see what happens with NG. UNG has been unusually steady in the last 3 days. Looks like it could do something dramatic anytime soon now...

[997TT]

Bnk might be a case of me going back to the well one too many times. Lol
Flipped it twice for good gains.
But now I'm down 0.50 ... Which is what ideally I would like to be up and sell for.
Oh well... I got my streamer up and will continue to watch.

[nobb]

Did you look at how oil prices were the last times you've played with BNK? lol judging from SR's analysis he thinks oil has a chance to hit $70/bbl.

[Beerking]

What are peoples thoughts on Encana right now? It appears to be going to support again at $30? Any chance it breaking this time and heading lower? Seems like a good buy below $31 for longer hold.

[themack89]

Originally posted by Beerking
What are peoples thoughts on Encana right now? It appears to be going to support again at $30? Any chance it breaking this time and heading lower? Seems like a good buy below $31 for longer hold.

It looks like it has penetrated support but it is still good price to buy.

Because it didn't level off at 29 and has pierced into 28 territory, I would buy cautiously. Don't make your leash too short. Personally I would wait to see if it will go lower since it didn't stop at 30 / 29 level.

[SilverRex]

Ok, we had a great week last week, with every pair pretty much moving to expecation. LEts start with the dollar index, as discussed before, I believe the dollar has bottom, since we had confirmation that it took out two supply trend line which could have held price down, instead it broke out and we are near if not finish our first mini 5 waves up. and look for a counter trend correction, once we find support, we should move much more aggressively to the upside. The only deal breaker is if our last support just under 80 does not hold, then I would question the reversal, otherwise, be ready to buy on dips

http://i278.photobucket.com/albums/kk118/genmaster/dollar081610.jpg

Gold is also moving higher nicely, similar to the dollar, in fact you can say they both move together generally speaking. once gold finds A top, it will also look for a minor dip (imo) before lanuching higher, and we are more than ready to advance to new highs, for the moment, I'll look to 1190 providing the needed support, only breaching this area would it open up a potential double dip bottom. Otherwise gold bulls, its beginning to get excited again.

http://i278.photobucket.com/albums/kk118/genmaster/gold081610.jpg


oil, ever since touching our 83 target for a reversal, has moved down like magic. the target I suggested at 75 was met with no problem what so ever. clearly its the last line of defense holding oil up at the moment. The only question is, will we have a sharp counter trend rally back up towards 80 or will we take out 75 and head lower, time will only tell, but the over all trend remains bearish, look for any rise to be a good move to short oil for (oil bears), while oil is bearish, My target remains in the 55-60 area for a good bottom. but lets take it one step at a time, first take out 75 to open up 70 oil.

http://i278.photobucket.com/albums/kk118/genmaster/oil081610.jpg

[SilverRex]

ok quick look at Natural Gas, as suggested last week, expecting a mini dip towards 4.21 or slightly lower, and we got this right at open this morning. lower level looks like we should be near a completion of our 2nd 5 waves down since topping out at around 5.23

now we are not out of the woods, and NG is in a critical make or break area. In order for NG to rise from the ashes, we need the newly formed resistance of 4.29 to be broken to the upside, then the next confirmation will come when it can close above 4.65, then you will know the entire sell off since coming off 5.23 will look corrective in structure and under major advance move towrds 6+ will be underday.

but if it does not get back above 4.29 and continues to break new low, and even taking out the rising neckline, then you will know the path may have changed to the original thesis of a last 5 waves down with the current sell off in the midst of a iii of (v) pointing towards below 3.8

so wait a little longer, to be safe, NG is currently short term bearish until the technical breakouts occur which I just mentioned above.

http://i278.photobucket.com/albums/kk118/genmaster/natgas081610.jpg

[Meback]

opps

[997TT]

Man shouldve picked up bnk friday instead of the $7.02 that I'm in at. Oh well... Nice rebound today.

Hnu... Wow. Tempted but promised myself would never but that or hnd again. Lol

[Meback]

lulz, I m thinking about adding more to my shares. I m sitting at 5.93 right now. Hurts man.

[kaput]

.

[nobb]

HNU...FUUUUUUUU. I also promised myself not to get into HNU after my last burn but I was too tempted at 5.25 because I thought it was a bargain. It's just a waiting game now, let's hope NG does not go sub $4.

[SilverRex]

Originally posted by kaput
PMT continues to do a lot of nothing, any further thoughts on this one SR? The dividends are nice but if that's all I'm chasing then I'd rather put the money elsewhere. PMT is a conservative long term hold, it has sound management and is more than ready to spike, however the catalyst may be needed such as a NG breakout this fall/winter

considering how stable it is around 5.00, it continues to be a good play for those that just cant stomach the volatility that comes with ETF

[SilverRex]

Originally posted by nobb
HNU...FUUUUUUUU. I also promised myself not to get into HNU after my last burn but I was too tempted at 5.25 because I thought it was a bargain. It's just a waiting game now, let's hope NG does not go sub $4.

well even my bullish count suggested NG to dip lower last week based on counts, and even so I would wait for confirmation that NG has risen back up to key areas before adding more. Until then, NG is in no mans land at the moment.

[SilverRex]

Natgas ready to move

after a double bottom dip, lets hope this is it
so far so good

[KappaSigma]

Originally posted by SilverRex
PMT is a conservative long term hold, it has sound management and is more than ready to spike, however the catalyst may be needed such as a NG breakout this fall/winter

considering how stable it is around 5.00, it continues to be a good play for those that just cant stomach the volatility that comes with ETF

I agree with SR about PMT. Even when NG takes a beating, it has held within the same consolidation range of about $5-5.10. Its up nicely today and a good chance that is ready to breakout very soon. When NG has tanked, there really was no selloff for PMT as actual volume was lower than average volume. People are holding this one tight.

[SilverRex]

it appears Natgas is ready to move, after producing a double bottom intraday, it is now testing the 1st resistance at 4.29 or 7.23 UNG, clearing this or closing above this end of day will definately make things interesting. clearing 4.65 however may be the nail in the coffin for suggesting the latest sell off since topping out at 5.23 to be corrective. NG is ready to make some noise in the coming weeks.

update: 4.29 cleared, next up 4.65 then I will get really excited

[SilverRex]

pretty good day for Natgas,

UNG looks like it has just completed a first mini 5 waves up, current in correction mode. as long as we dont see new lows, it is ready to make a huge statement in the coming weeks.

http://i278.photobucket.com/albums/kk118/genmaster/ung081710.jpg

[kaput]

.

[997TT]

Pretty much break even on BNK now and up just under a $1 on CNQ.

Cmon another 5% btchs ...

[997TT]

Run BNK run....

[KappaSigma]

I am really liking the way PMT has traded. Roughly down 1% even though NG has taken a beating lately. It continues to trade tightly with lower volume than average volume.

Any sort of NG recovery and I believe (like SR) that it will break out nicely.

On a side note I also like CMT and how they have restructured in the last year. If management continues to operate within their cash flow this one could be one heck of a gain in a few years when NG climbs higher.

I wish I had about $50K lying around to throw into both of them and sit on it.

[SilverRex]

ok an update on the dollar, with the 1st 5 waves completed after bottoming afew weeks ago under 80, the correction to this up leg may be over with price giving us a 38% fibo support just under 82. the bullish move is that we are more than ready to make a wave .iii advance taking us well above 85+

so long 81.9 holds, either wise a drawn out correction would indicate my alt count having a lower support in the mid 81s, but giving the dollar recently broke above a supply trend line I feel it is ready to make a move,

http://i278.photobucket.com/albums/kk118/genmaster/dollar081910.jpg

[nobb]

Damn it...just when you think NG is going to make a move and shows upside it crashes back down again.

[broken_legs]

yesterday into some Sept TXT 18 calls @ 1.04.

[mr2mike]

Do I catch the falling knife with HNU hoping for a quick 5% return or wait till it stabalizes?

What's everyone else thinking? Is there a bottom, I think is what's going through most people's mind.

[SilverRex]

well from my previous few post on natgas I see the dip to 4.1x ish, and finally we got that today, originally thought the bottom was in but apparently not.

planting your foot here is a risk play but with a pretty good reward to risk ratio. safe side requiring price to get back about the mid 4s and see how it react with the supply trendline so far holding price down at 5.23 and 5.01

http://i278.photobucket.com/albums/kk118/genmaster/natgas081910.jpg

[SilverRex]

quick update on the dollar index, this week has been very good. the pull back towards 82 was both expected and realized, and now we need to see 83 hold as support, as long as this holds count suggest next target to be at least 85+

only taking out 83 would imply a further low under 82 is suggested.

http://i278.photobucket.com/albums/kk118/genmaster/dollar082010.jpg

[SilverRex]

looks like USD/CAD is ready to make a major move .iii or (iii) (so long 1.01 holds, this view will continue to be on the table)

http://i278.photobucket.com/albums/kk118/genmaster/usdcad082010.jpg

[kaput]

.

[guessboi]

go HND! :D

[djayz]

Originally posted by kaput
HNU pushing a new 52 week low. Decisions decisions....

:guns: Killed my TFSA account :(

[themack89]

lawldogs...

HNU new low, NG not even bottom of multi month channel... fail

[djayz]

HNU going to take another shit kicking on Monday. NG down 4 cents again, closing in on the $4 flat mark.

[SilverRex]

ok new week, lets see what the charts bring,

looking at the dollar index, it looks like its is moving up nicely, however as I said late last week, the 83 must turn into support, now that price is falling slightly below this, I am concern our correctional wave ii may not be finished.

bullish case would require dollar index to immediately rise, if price does not and begins to turn down and even take out 82.70, then it is likely we have a flat correction on our hands before a stronger rise appear

http://i278.photobucket.com/albums/kk118/genmaster/dollar082310.jpg

For gold, based on wave counts, we should be well in our way onto new highs 1300+? any pull back I see should be limited, obviously things can change, but for now my bet is continue rise until we achieve new highs, so buying on dips.

but becareful, as once we complete our wave .v of (v) this is merely a completion of a major wave III, and we would be met with a significant retracement. My hunge tells me we would seek a top somewhere around 1300 or even a bit higher, then retrace 38% back to 900-1000 area. Just like 2008 where we retraced 38% from 1033-681, in fact, for the entire run since 2001, gold has put in a 38% every time it made new highs, so I will use that as a good correctional number if gold suddenly does fall flat to its face and sell off mounts.

http://i278.photobucket.com/albums/kk118/genmaster/GOLD082310.jpg

Oil has been the one sector thats moving quite well to my charts since forecasting a top at 83 a few weeks ago. we a intraday 5 waves down nearly completed. I am expecting a counter trend rally before the next sell off to begin, look for oil to rise 1-2 weeks before it enters another sell off

http://i278.photobucket.com/albums/kk118/genmaster/oil082310.jpg

finally Dow is moving similar to oil as well, it too I believe should rise a bit, likely into early september than fall pretty hard imo so dont get caught with your pants down.

http://i278.photobucket.com/albums/kk118/genmaster/dow082310.jpg

[Meback]

SR can you please recap natural gas.

[nobb]

Sure hope NG finds a bottom soon. Wonder how many people got caught with their pants down on this one...

[Meback]

I got caught pants down with cock in hand,

[SilverRex]

Originally posted by Meback
SR can you please recap natural gas.

not much has changed from my last few post on Natgas,

looking at UNG, the bullish move would require price to get back or close above 7.25 as an early indicator, then the big breakout will be required break the year long supply trend line circled black just under 8.00

that is why I said, short term NG is bearish, my bias remains up for the long term, current level is a very good risk/reward play only if you have the nerve to jump in, but most will be waiting for price to inch back above 7.25 before attracting most technical investor.

If this sell off is still a correction, then I am quite surprised at how drawn out it is, none the less, we are about to close out august. If last year's sharp run is any indication of future performence, then at any moment we will see quite an exciting move soon.

http://i278.photobucket.com/albums/kk118/genmaster/ung082310.jpg

[djayz]

Stopped out of HNU @ 4.65. Probably buy back in when we break and hold $5.00

Anybody holding HNU still or was everyone saved from the free fall?

[nobb]

Bought HNU at 5.25 and Im still holding on. Alot of people definitely got screwed on this one.

[997TT]

I'll admit the risk/reward of hnu looks appealing ...

[nobb]

So since so many of us are probably holding onto HNU and it's dropping like a rock, is there a general rule of thumb on how long you guys feel comfortable with holding onto 2x leveraged EFTs? I still dont quite understand the concept of the "contango" effect.

[themack89]

Originally posted by djayz
Stopped out of HNU @ 4.65. Probably buy back in when we break and hold $5.00

Anybody holding HNU still or was everyone saved from the free fall?

That's what we like to see...

Buy 5, sell 4.50
Buy 5, sell 4.50

rinse repeat

[Red@8]

By some miracle I haven't been part of the HNU blood bath this time around. I must admit though I am getting tempted to buy some soon.

[djfob]

I'm still holding at 5.30, gonna be averaging down when I see ng hit 3.70-3.80

[997TT]

In Tck.b at $32.94 right befroe close

hopefully the bleeding doesn't go on too much longer.

[djayz]

Originally posted by themack89


That's what we like to see...

Buy 5, sell 4.50
Buy 5, sell 4.50

rinse repeat

Haha except this time around it was buy 6.50, sell 4.65. Just wiped out my entire year of gains in my TFSA with that one. Will re-enter for revenge when we break and hold $5.00 like I said above.

[Meback]

Holy fuk. i m gonna go hang myself now, but to bad I can't afford a fuking rope!

[SilverRex]

Originally posted by Meback
Holy fuk. i m gonna go hang myself now, but to bad I can't afford a fuking rope!

as I've said from all my recent post, NG is in a bearish mode and worse case we could see it dive under 3.8 to complete a new low, my bullish view will only begin if it can re-claim the 4.30 land which it never was able to do,

current levels are for risk takers, we lost majority of the technical crowd until price rallies off a bottom.

oil on the other hand while over all trend is still bearish, I was suprised at how weak it is falling below 74, but now that its near 70 again, we should see a rally any time now

[SilverRex]

anyhow a quick update on oil though, I was surprised at the further sell off, was thinking the support near 75 would hold, but who to complain, the over all trend remains down for oil, I dont think the bottom is in. but I do expect a counter trend rally to start very soon. we are near if not at a bottom, cant rule out for one more dive towards 70, looking for oil to climb back towards 74-76 area. (slight positive divergence spotted)

and I do not see oil taking out 80 anytime soon either, otherwise it would immediately turn oil bullish

http://i278.photobucket.com/albums/kk118/genmaster/oil082510.jpg

[themack89]

If oil dips 70 I'm buying.

[KappaSigma]

I agree that NG is short term bearish. However due to my age, I dont think Ill see a NG low like this for quite sometime. A great chance for me to accumulate longterm positions.

[sgouki]

Man this is some bullshit. 3 straight weeks of dumping and it tanks even more. Think it's gonna atleast go back to 6 bucks for HNU or are we gonna have to wait till next year till it goes back up?

[djayz]

PMT still a good pick-up SR?

[SilverRex]

Originally posted by djayz
PMT still a good pick-up SR?

anything under 5 is a bargin imo

[SilverRex]

ok here is an update for the dollar index, as you can see below, it is near an important make or break support, imo as long as 82.70 holds, I will see the next move is up to a higher high beyond 83.50

however if 82.70 fails to hold, then I would expect a flat correction take to place that could shoot dollar right back down to 81.9 or slightly lower.

given the market may be ready for a little rally before the next fall, we could see the dollar tank, that may just be the case in order for oil/dow to take on a brief rally. the coming weeks will be quite interesting none the less

http://i278.photobucket.com/albums/kk118/genmaster/dollar082610.jpg

[SilverRex]

The inventory report this morning has pushed Natgas to new lows, as I have warned weeks ago the possibility of diving under 3.8 is in its full swing.

however opportunity could be on the horizon if you have the patients to wait for some important confirmation.

As you can see below, the new count which really is the original count months ago points to new lows under 3.8, For now the worse case scenario expect the lowest should be around 3.3x, with a interm sell off ending and oversold conditions should prop price back up. Again, if the wave counts are correct we ought to see a consolidation but no higher than 4.3 take place before one final dive towards 3.3-3.5 to complete the current bearish trend

The clue that bottom may be in requires price again (repeating myself I know) is to see price reclaim above 4.3, only then would a bullish momentum mount and then we can entertain the breakout move with current neckline in the 4.65+ range

Natgas is volatile no kidding, but we are only days away from entering the seasonal strong month of Sept, so watch NG closely, because when it does turn it should be a power ful one.

Now if price does continue on south say to 3.5, then that would put a new resistance overhead in place at 3.8, then similar to watching 4.3, the earilest sign requires price to re-claim above 3.8, to suggest a short term bottom is in place. Or wait for two consecutive higher lows to form before taking a intraday short term swing position.

http://i278.photobucket.com/albums/kk118/genmaster/natgas082610.jpg

[SilverRex]

UNG has a bit of a gap lefted just under 6.8, I wont be surprised one bit that this will get filled eventually.

HND is very close to 9.00, I believe a turn around is close, the question isnt if NG will bottom or not, rather is when.

when NG moves its typically sharp and last for 5 months. Could very well be between sept-jan so keep your eyes open and powder ready

[Sailz]

Anyone following MTX? Im up over 43% in 2 weeks on a tip from a friend...supposed to be fantastic results coming from the next samples. Company is owned and backed by Canadian Diamond Magnate Charles Fipke, so you know if the results are there its a green light to fund a mine.

[SilverRex]

hnu looking attractive now, regardless of trend, I think its very much due for a rally, there is gap to be filled for a easy 10-15% imo

looking at hnd, the exact opposit of course, again gap towards 8 will need to be filled, the trend line break out will need to be tested then we go from there

http://i278.photobucket.com/albums/kk118/genmaster/hnd082710.jpg

[997TT]

SR stop with the HNU stuff ... Lol
Under $4 .... Man I'm so tempted
But that a$$ raping earlier this year is still fresh in my mind.

Maybe ill pick up a small position in HNU. Fawk me

[997TT]

In HNU @ $3.97.
Cmon u pos. Don't make me regret this. Lol

[Red@8]

I'm super tempted too. Not to mention if 997TT is in I almost think I gotta jump in HNU as well just for old times sake.

[Red@8]

I'm in at $3.95, tight stop though.

[SilverRex]

Originally posted by Red@8
I'm in at $3.95, tight stop though.

read somewhere the turn date for NG is today

so let see if this is it

[997TT]

Haha.
Cheers buddy. Hopefully this time it works out.

[mr2mike]

In at $3.94.... we are either idiots or heroes come monday, lol.

[kaput]

.

[SilverRex]

ok time to set the low of the day as stops and hopefully ride hnu up for 1-2 week

[mr2mike]

I was going back to last year, same time frame, HNU went from a $20 stock down to $8 in the later part of August, then took off beginning of September hitting $14 in 2 weeks.

Maybe I'm just trying to justify why I bought in but maybe history will repeat.

[SilverRex]

Originally posted by mr2mike
I was going back to last year, same time frame, HNU went from a $20 stock down to $8 in the later part of August, then took off beginning of September hitting $14 in 2 weeks.

Maybe I'm just trying to justify why I bought in but maybe history will repeat.

thats what I am looking for a 5 month rally begining in september

[gyu]

Picked up a small position at 3.87 cause of the beyond hype, and it is pretty close to the 52 week low. Hoping for the best :nut:

[kaput]

.

[SilverRex]

Last week I had suggested the importance of the dollar holding above 82.8, even though price is currently still hovering around this area, I feel it is more than enough for a clear breach that now calls for a further correction. A revised count suggest we should see price migrate back into the prior wave iv of under 82 for the coming days/week This would signal a final high in both oil/dow before the next sell off to begin

http://i278.photobucket.com/albums/kk118/genmaster/dollar083010.jpg

As for gold, I am going to throw up a higher chart just to recap we are in the midst of a final wave .v of (.v) of III that should top out some where towards 1377. The thing you must know is we are closer to A top than we are at a bottom which means once a top is reached, I expect gold to at least put in a 38% retracement before a final parabolic rise to begin.

Why 38%? if you look back to 2001, every time gold achieves new highs, it has always produced a sharp 38% retracement. so far gold has put in 4 38% retracements, and a 5th one may just be coming up shortly

http://i278.photobucket.com/albums/kk118/genmaster/gold083010.jpg

heres a gold chart which I had a while back regarding the 38% pattern.

http://i278.photobucket.com/albums/kk118/genmaster/gold25-1.jpg

[SilverRex]

And last week I expected oil to bottom and begin a counter trend rally, and so far oil has moved up nicely, this week I expect a minor correction (as long as 71.75-72 area holds, oil should produce another 5 waves up towards 78-80 but no higher than 80 imo then the general market will most likely resume shorting oil back down to new lows

http://i278.photobucket.com/albums/kk118/genmaster/oil083010.jpg

[997TT]

Let's go Nat gas!!!

[Red@8]

Lovin' HNU so far today.

[troyl]

Damn RBC!! They are having issues with their online banking, I can't login!!

[sgouki]

Wonder if it can head back up to the 6 dollar mark. Seems so far away now.

[SilverRex]

Originally posted by sgouki
Wonder if it can head back up to the 6 dollar mark. Seems so far away now.

there is a gap that needs to be filled UNG near 6.8

I expect hnu to at least put in another 10% so long last week's low holds.

it could present some good range trading if it does try to bottom out 10-20%

if it does push higher, it will be interesting to see if Natgas can reclimb above 4.29, because if it does, then the bulls will begin to re-enter the market

otherwise the current view is we may have A bottom last week with a 10-20% consolidation, then one more dive to complete the low this year.

[Beerking]

So, is there where the DOW breaks 10,000 and DOWN we go? or will it again hold and bounce around some more? Im thinking that this is it, no more lucky breaks or 'promising' chopper Ben speaches.:facepalm:

[gyu]

The position I sold to get the funding to buy into HNU on Friday broke even today and then some while the other position I contemplated on selling to get funding into HNU but ended up keeping fell some more :banghead: :facepalm:

[tryingtobebest1]

Its going down again! OMG