Official Short-term Investments Thread

[SilverRex]

Originally posted by max_boost
Interesting to see if will drop 2000pts to th 11600 low. :D

are you talking about the tsx? I have not looked at the tsx much, but just now it appears the 11600 low to the 14400 high is a perfect 5 waves up. with the current move down, I think the ideal bottom is the 38% level near 13300. this will fit in nicely that price needs to retrace the previous wave iv low which was May's low just under 13600.

so let see if it will give us a swing low between 13300-13600 follow by a confirmation back above the 50 day moving average

[ercchry]

Just got an email from questrade... They have teamed up with vetorvest, offering 10 weeks for $10

Anyone use this? Worth it?

[bspot]

I think LABU is going to test near $22 again. I'm going to load up there with a fairly tight stop.

If this breaks below, I'm completely abandoning ship and reevaluating my life... lol.


Dumped half my MEG looking for lower entry.

Probably should have dumped more and be sitting on more cash, but I half expect a couple huge days in the eventual recovery that I don't want to miss on. I'm happy to let some stuff ride down and back up patiently.

[ickyflex]

Oil Broke $46

[bspot]

^And promptly decides ain't nobody got time for dat

[SilverRex]

im really not buying this sell off to be anything more than a panic which is feeding perfectly into a typical correction.

those that are still into biotech lets look at IBB. again I think it is easier to understand this chart than xbi and I do not believe we will see new lows for xbi. not this week anyways.

IBB is more than ready to make new lows. if the stock market does rebound some time this week, I expect biotech to bounce strongly once a low is made.

At this moment I am going to say a false breakdown will occur and test that down trend line under 240. Once we see a reversal, next confirmation is to wait until the 5 day RSI comes out of oversold just like the last few times.

as scary as everything is right now, this could also be the best opportunity as a yearly low. I continue to compare this to how the miners did back in December. Gold never made new lows but miners were sold down heavily and we all know the script quite well after.

Here is the thing. if we do get our bounce and confirmation. Even if the stock market was to head lower in the next few weeks, I have a feeling biotech will simply just put in a correction without making a lower low.

Anyone else have a different view?

http://i.imgur.com/rPmGgC7.png

[bball2]

Man today was a rough day on my portfolio :banghead:

[Kloubek]

Ditto.

[bjstare]

I bought more UA today. If anyone is sitting on cash and on the fence about entering a longer term play, this week could present a decent entry opportunity.

edit: not talking about UA specifically, just generally speaking. I'm not really too shook when the whole market dives and my portfolio suffers, it just means things are on sale. It's when the market is doing well and my portfolio dives that I Want to :cry:

[bspot]

Futures are green. LABU is up after hours.

I'm getting twitchy and wondering if I should use any pop as a way out of my LABU position (almost 1/3 of my portfolio right now).

That probably means I should sit tight and hold...

I really should have just sold everything Friday and sat out a couple days. I bargain hunt way too early.

Averaged down to $25.30 on LABU. Even if it hits $30 in the next couple months, I'm laughing and happy with how this played out.

If it doesn't... *gulp*

[bball2]

Originally posted by cjblair
I bought more UA today. If anyone is sitting on cash and on the fence about entering a longer term play, this week could present a decent entry opportunity.

edit: not talking about UA specifically, just generally speaking. I'm not really too shook when the whole market dives and my portfolio suffers, it just means things are on sale. It's when the market is doing well and my portfolio dives that I Want to :cry:

You're telling me! Bought a bunch at $44 and still holding. Upped my stake with some Jan 2018 calls @ 38 which were up 25% and now back in the negative.

[theken]

Is LABU ever going to be really strong again? I tried buying a few hundred shares today, for some reason it didn't work. I did get in a bunch of Trican at 2.04 hoping that perks up a few this year.

[littledan]

i think i'm going to jump back in to baytex this week.

was just going over their financials...

they have $2.7B worth of reserves @$50/bbl in the eagle ford alone. at a market cap of $1.3B and debt of $2B it seems like a a steal @$6.60/share... if it goes much lower i think i'm going balls deep.

[SilverRex]

its 4am, couldnt sleep. got some time to put up some charting.


lets begin with oil since it appears most of us here just loves to play the energy sector, short or long term.

ever since I was suspecting the move from wave i to ii appears to be corrective, I was only expecting a lower low under 48.5,

but thanks to Brexit, the panic sell off has trigger a lower low (which imo is a buying opportunity once we seem some confirmation a reversal has taken place.

so far my ideal scenario is sort of playing out. I was expecting what would cause maximum pain for investor? that would be to produce a false breakdown under 46 only to close back above the neckline. We got exactly that. However here is the important part, unless oil can recapture above the previous wave i at 48.5 which is also the 200 EMA, it would appear the latest 5 wave structure is still missing 1 wave.

remember I said I am expecting the market to rally some time this week. Well it may have started today with premarket in the green. so perhaps the counter bounce has started. There will be investor who will see this as an opportunity to get out and sell into strength. Maybe you should too unless you see the technical reversal confirmation of oil crossing back above 48.5

http://i.imgur.com/r9SU0Hi.png

[SilverRex]

here is Meg Chart.

it has broken the multi-month rising channel and the H&S targeting under 5.00
I have always kept this in the back of my mind as a worse case scenario. If Meg is to still make a bullish case now, it must reversal course quickly and remain in a wave 1-2, 1-2 camp and bottom here without taking out the low at 5.75.

price will need to move extremely aggressively back above 6.75 otherwise based on the bearish breakdown of this chart, majority of technical investors are scared to jump in.

http://i.imgur.com/V8563q8.png

[SilverRex]

Lets look at BTE also.

it appears BTE has less volatility. I guess that is very encouraging for those that hold it long term. but as you can see, it still has it's swings and correction.

how many remember when I suspect the energy sector potentially was due for a significant pull back and one should light up or reduce their exposure?

when oil bottomed at 46 initially, I thought there was more room to run and certain stocks like Meg, has the potentially to actually begin an earlier wave 3 sequence. Well how fast things can changed. The market was just waiting for the perfect storm aka Brexit to sell off or another way to put it, triggered a profit taking event.

Here is something to keep in mind. if bte has started a wave 2 correction then there will be two buy areas that is ideal for it to bottom. One is between 6-6.25 range of the previous wave 3/4

the other would be down to the 4.5-5.5 area. I am considering the 4.5-5.5 area namely because of how long it took BTE to complete its 5 waves and so in terms of time, it may take another month to complete the bottoming process.

The red path is worse case scenario. One has to keep some cash on the sideline if this unfolds.

but all things hinges on the oil price and the stock market. if the panic moves onto a more severe sell off stage, it will drag all equities down. Bte no exception as well.

But lets be optimistic, if oil can put in the bottom here just under 46 and begin to technically reverse strongly. Then my count for BTE may change. it is entirely possible BTE has already completed it's wave 2 correction back in May. And the rise to 9 dollar was a new cycle wave 1 which means we are only witnessing a wave 2 pull back. If this is the case, then it is no doubt the current price at 6.60 is a very good entry.

http://i.imgur.com/9YtsOl6.png

[SilverRex]

ok onto miners

right now the EW count suggest we have completed wave i of III, and wave ii of III pull back under 25 and wave iii of III should have begun.

while this remains my count unless price takes out 25.6 to the downside without making a higher high, then there is a chance wave ii of III has not finished. so the alt count marked in red will be in play.

One reason is because if you compare the current bull run to the bull run in 2009, the strong wave III surge did not begin until we hit the first or 2nd week of July.

which is why, we could still have another week+ of consolidation before miners are ready to challenge new highs

Either scenario I am expecting a strong multi week run that will top some where in August

http://i.imgur.com/0UR2Fn6.png


http://i.imgur.com/HnjjFK7.png

[SilverRex]

here is something to think about.

is there any similarities between how the miners bottomed last December and what biotech is doing recently?

one can only wonder

http://i.imgur.com/6kDUBTi.png

[SilverRex]

BTE looks like it is ready to open in the green. for the sake of everyone. lets hope oil can take out 48.5 and solidify the bottom at 46 once again.

great open for Meg, if it can close above 6.75 that would keep the bullish outlook on the table

[bspot]

Of note, yesterday was the biggest volume day for LABU in its history.

[SilverRex]

Originally posted by bspot
Of note, yesterday was the biggest volume day for LABU in its history.

big money certainly knows when to load up.

I have no crystal ball, but one of these bounces will result in a run up nonstop until biotech doubles,

[bspot]

Annnnnnd we've undone the damage from yesterday. If this holds....

[littledan]

fuark. was going to jump into baytex and it gapped up on open. this volatility is such a love / hate.

[bspot]

It's ok, you can pounce on the double bottom while the rest of us are nervous wrecks if things are breaking down further again.

[bspot]

Any fear of a dead cat bounce here? Strategies for mitigating that potential? Take partial profit at bottom side of Friday's gap?

[ickyflex]

I'd say it could go up tomorrow based on inventories which will hold price or bring it higher if it's bullish

[SilverRex]

Originally posted by bspot
Any fear of a dead cat bounce here? Strategies for mitigating that potential? Take partial profit at bottom side of Friday's gap?

that is the expectation but anything can happen as market prices and charting area always after the fact.

I am slowly beginning to believe the bounce is real with no further drop simply because biotech has made a very strong swing low.

now we just need oil to close above 48-48.5 and produce a reverse H&S bottom, just like it did when it had the H&S top near 50.00 causing the technical breakdown.

[Manhattan]

Anyone attended any AGMs before? Do you need to prove you're a shareholder or just walk in? MEG having AGM at 3pm today.

[gqmw]

Originally posted by Manhattan
Anyone attended any AGMs before? Do you need to prove you're a shareholder or just walk in? MEG having AGM at 3pm today.

You can just walk in, you just can't vote. Just drop off a business card at the door.

[KappaSigma]

Well I am gambler. My view is that oil will slowly creep up along with oil stocks.

Previously sold my large baytex position at $8.70. Took profits, day traded for a bit and took some more profits.

Now back in with $150K (yikes) at $7.40 avg.

[ercchry]

Originally posted by ercchry
Just got an email from questrade... They have teamed up with vetorvest, offering 10 weeks for $10

Anyone use this? Worth it?

well, i did it... watched the tutorial videos today, seems neat. i like it so far... time will tell if i start to make better decisions though :rofl:

[bjstare]

NKE :banghead:

[bspot]

LABU with a 14% day.

XBI regained 52.00 and sits back above the uptrend line.

I probably am disproportionately nervous after such a big day for tomorrow, as holding support seems like a difficult task given the crazy week.

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_84722934e3655c10c755a96bc19a0d40.png

IBB bounced nicely off of 240 which is critical support. Still below the neckline for the H&S, so not out of the woods yet.

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_3f777f804b42da091c07febeef622f41.png

I had to fight the urges to not take profit on part of my LABU positions today and remind myself that stick handling this too much has cost me a lot of gains in the past. I'm going to attempt to stick for the long haul, and hope nothing drops below the recent support levels and shakes me out for a loss.

[SilverRex]

oil took out 48.5, it is looking good that the bottom may be in.

now we need spx to close and sustain above 2040 to confirm the equities market also.

silver is on a tear

just wanted to post gdx chart again. at this current time, gdx is setup on a potential huge breakout. so for the coming week, it 'must' breakout or else there is risk it will be pushed down to under 25 again.

over all, if miners do pull back significantly then anything between 21-25 is your last chance. otherwise technically it is more than ready to make a run at this stage.

http://i.imgur.com/nJKruYP.png

[SilverRex]

if Meg closes above 6.8 this could keep the extremely bullish 1-2 1-2 setup for a very powerful wave 3 in the coming weeks. we could see double digits in bte and Meg because oil will and should hit 55-60

[KappaSigma]

Originally posted by SilverRex
if Meg closes above 6.8 this could keep the extremely bullish 1-2 1-2 setup for a very powerful wave 3 in the coming weeks. we could see double digits in bte and Meg because oil will and should hit 55-60

So you think oil will get thst high in 2-3 weeks? Based on just technicals or actual macro changes in oil globally?

[SilverRex]

from the last gdx chart. please keep the alt path in mind in case any surprise to the downside which is indeed will be a great pickup...

however.. like I said, if miners area ready to make a run from here until August.

lets look at where we are comparing to the 2008 run.

as you can see miners ran from Jul1 to Aug 19. If history repeats itself, then this will be a fun ride.

http://i.imgur.com/YGnEWQc.png

[bspot]

Anyone else in on this LABU run? Brexit basically facilitated a new high water mark for my TFSA. :rofl:

[bjstare]

Originally posted by bspot
Anyone else in on this LABU run? Brexit basically facilitated a new high water mark for my TFSA. :rofl:

I bought the LABU dip this morning (26.63 or something).

And same here, selling oil and buying gold before brexit did wonders for my balance. Same with doubling down on UA in the post brexit dip.

[bball2]

Originally posted by bspot
Anyone else in on this LABU run? Brexit basically facilitated a new high water mark for my TFSA. :rofl:
Bought a small position at 22.57 :clap:

Was going to double down at 21.90 but never got that low on Monday.

[SilverRex]

Originally posted by bball2

Bought a small position at 22.57 :clap:

Was going to double down at 21.90 but never got that low on Monday.

dont you also have USLV? now ride that until it peaks in August

[bball2]

Originally posted by SilverRex


dont you also have USLV? now ride that until it peaks in August
Sold it all last week at about $18, still happy with the profits. Big jump today though; up close to 10%

[bball2]

@cjblair, still holding UA; great 2 day run so far?

Almost back to even after buying in at $44 when combined with my call options bought at $35.

[el_fefes]

Still holding USLV. I bought at 13.90. Will keep it for a while longer.

[SilverRex]

interesting day everything is up, US dollar, metals, stocks...

looks like money are flowing back into the market

[bjstare]

Originally posted by bball2
@cjblair, still holding UA; great 2 day run so far?

Almost back to even after buying in at $44 when combined with my call options bought at $35.

I sold out this morning! It could continue to run, but I chose to direct that cash elsewhere. I bought in similar time as you I think, and got out with a small loss on that trade. Overall I'm not happy, but much happier than I was a few days ago haha.

[bspot]

Peeled off a little LABU as I think there is a decent chance it has to pull back a bit to take a run at breaking ~$27.60.

Would not have even considered it except I was sitting at about 30% LABU in my portfolio and sitting on 0 cash, which is pushing my risk tolerance.

Back to about 20%, but will happily pile back in on a pullback.

[ercchry]

Just sold at $27.75.... Will wait for a sold pull back before getting back into it, bought at $26, so not super great

[bball2]

What kind of splits do you guys usually like to maintain? I used to be about 80% stocks / 20% cash, but now with my margin account I'm more like 70% stocks / 30% options / 0% cash and utilize the 30-40% margin available to buy on dips.

[bball2]

Originally posted by ercchry
Just sold at $27.75.... Will wait for a sold pull back before getting back into it, bought at $26, so not super great

Got pretty lucky on the timing of this one, sold at $27.80 after buying at $22.57 earlier this week. Will keep an eye out for another buying opportunity.

[ercchry]

Originally posted by bball2
What kind of splits do you guys usually like to maintain? I used to be about 80% stocks / 20% cash, but now with my margin account I'm more like 70% stocks / 30% options / 0% cash and utilize the 30-40% margin available to buy on dips.

I'm not too worried about it, I just focus on having enough cash to buy something on sale, and to average into positions that I hold for longer term... Usually have a few options in liquid, volatile companies for short term trading

[bspot]

Why do I have a feeling this is going to run like crazy now that I offloaded a bit? 27.60 seems gone... just the gap to go.

Oh well, I'll still be happy enough with what I've got.

bball2, I'm at 12% cash right now. I'm trying to get closer to 15-25 on an ongoing basis, but I have too many things I'm letting run right now, buying the Brexit dips ate every penny I had.

I will peel off energy once oil pushes up to $55 then probably be pretty cash heavy and have to come up with the next game plan.

[ercchry]

Originally posted by bspot
Why do I have a feeling this is going to run like crazy now that I offloaded a bit? 27.60 seems gone... just the gap to go.



I'm starting to get that feeling too :rofl:

I just don't trust it though, too much uncertainty with the coming election and Clinton's hate for the profits in the industry

[bjstare]

LABU @ 28.20 now, when will it stop!

[SilverRex]

Originally posted by cjblair
LABU @ 28.20 now, when will it stop!

it may not stop if this is 'THE' bounce everyone has been waiting for. biotech has been quite lagging despite the entire stock market nearly made a new historical high. However once the market does make new highs, i think biotech will rebound very hard (like the mining sector once gold bottomed)

thankfully I am 100% loaded up on the mining sectors so I have no choice but to just ignore other plays.

also I have never believe one bit the impact of Brexit other than just fear and emotion. once that was over, market will forget about it and make a full recovery.

[SilverRex]

also for oil. not saying this happens 100% of the time, but more often than not when price produces a false breakdown (oil under 46 that H&S neckline) and recovers fully only to breakout to the top side (downtrend line above 49.8) it is an extremely powerful indicator that the latter is the real trend.

[buh_buh]

Anyone looking to hold LABU overnight to avoid what happened to LABD yesterday morning?
Debating for the next 7 minutes whether it's worth the risk to hold or sell before the market closes.

[ercchry]

Now I feel better about when I dumped LABU :rofl:

[bspot]

^I just grabbed more :p

Still have my bigger position I'm holding for the long haul,

But bought the dip (a bit too late) at 27.2 with a stop near today's low just that position. Missed out on the 26's because it bounced immediately as XBI tested the 100 DMA.

[bball2]

Originally posted by bspot
^I just grabbed more :p

Still have my bigger position I'm holding for the long haul,

But bought the dip (a bit too late) at 27.2 with a stop near today's low just that position. Missed out on the 26's because it bounced immediately as XBI tested the 100 DMA.
Great buy, already passed yesterday's high :thumbsup:

[SilverRex]

http://i.imgur.com/hoRKufy.png

any pull back in metals should be bought imo

http://i.imgur.com/HZ3m22B.png

[bjstare]

LABU just continues to march up. I don't like holding overnight, and missed buying the big dip this morning cause of my real job. Having said that, still happy with it today!

[SilverRex]

so a new leg has started? if so then we are looking at spx in the 2500

http://i.imgur.com/odLvD8b.png

[SilverRex]

lets look at oil. after oil confirming the reversal by taking out 48.5 and even slightly broken the down trend line although price needs to close above it to become valid.

we are merely in a wave 2 correction with the possibility that it may have ended today. any further pull back is a buy imo and I do not believe oil should break under 47.50.

the next move above 50.00 should be a wave 3 of 5 which is powerful enough and possibly can lift energy stocks much higher. Hopefully this is where Meg and Bte will see double digits.

http://i.imgur.com/is4XB8d.png

[SilverRex]

just wanting to repost this again. I cant help but think biotech 'is' indeed following what the mining sector did this year. amid later, better late than never.

http://i.imgur.com/6kDUBTi.png

[asp integra]

Hmm, when do you see this wave happening? Debating if I should throw some more into meg and buy some bte.

[riander5]

Thats a very interesting correlation

[SilverRex]

hope everyone was loaded up on silver play when I first posted a chart that suggest the price at the time between 15.8-16 was an extremely good buying area.

even if you had jumped in yesterday it would still been a good entry.

when silver decides to runup, all the resistance, support appears to mean nothing. considering it has broken the last major resistance at 18.5 (which should now act as support) it is clear sky all the way until the 21-22 area.

it is now up to gold to see if it can breakout on it's own, it is still trying to garner momentum and does appear to have broken out of the flag pattern. a close above 1336 for the week will be extremely powerful for the following week.

[SilverRex]

count wise it looks like silver has completed 2 micro waves and appears ready to make another small 5 waves up higher towards 19.8-20 (so long we hold above 18.50, I continue to expect the next 5 waves upwards to targeted area)

http://i.imgur.com/hWCWEpV.png

[bspot]

Dear god. LABU and silver are screaming. Gold looks ready to follow. Oil can have it's turn next week.

What a start to the weekend. Canada Day :love:

[SilverRex]

Originally posted by bspot
Dear god. LABU and silver are screaming. Gold looks ready to follow. Oil can have it's turn next week.

What a start to the weekend. Canada Day :love:

think of spx/dow to biotech is to gold to gdx/miners

when spx/dow is ready to make new historical highs (which I know it will) then biotech will aggressively outperform and catch up

[SilverRex]

posted this yesterday on oil, that it should find a bottom at one of the fib retracement level. so far it has reached down to the 50% retracement of the recent up move. wait for confirmation to break the short term trendline follow by the more significant one denoted at #2 green.

once oil moves pass 49.5, I will expect Meg and Bte to hit double digits in the coming months maybe even weeks depending on how strong the rally becomes.

http://i.imgur.com/Kw5PCOW.png

[bball2]

Man LABU / USLV / NUGT, got out just a bit too early, but congrats to anyone still holding :thumbsup:

[bjstare]

Wow what a day. Disappointed I sold my LABU yesterday.

[theken]

Will labu drop again? I have a few shares. Wouldn't mind dropping them and rebuying

[revelations]

Originally posted by bball2
Man LABU / USLV / NUGT, got out just a bit too early, but congrats to anyone still holding :thumbsup:

Yea I sold out yesterday after 15% gains. NUGT was approaching previous highs and there was uncertainty (from Technicals) as to which way it would proceed (falling volume).

More to come though; I will be buying the next dip NUGT or USLV for sure.

[theken]

Other than labu any other interesting bio tech companies to look in to? I have a couple small ones but they don't seem to be performing as I had hoped

[revelations]

REGN, BIIB, IBB

[riander5]

Still holding labu, but buyin was 26 not 22 :(

[bball2]

Originally posted by theken
Other than labu any other interesting bio tech companies to look in to? I have a couple small ones but they don't seem to be performing as I had hoped

I've been loading up on GILD past few months, still down a bit but I think it has pretty significant upside when you look at their fundamentals.

[SilverRex]

http://www.silverdoctors.com/gold/gold-news/sweden-gold-and-silver-dealer-shut-down-banking-system/#more-69561

[bball2]

Originally posted by SilverRex
http://www.silverdoctors.com/gold/gold-news/sweden-gold-and-silver-dealer-shut-down-banking-system/#more-69561

What's your read on this? Harder to purchase physical gold / silver assets leading to increased price? Will this be localized towards Sweden / Europe or have global ramifications as well?

[SilverRex]

Originally posted by bball2


What's your read on this? Harder to purchase physical gold / silver assets leading to increased price? Will this be localized towards Sweden / Europe or have global ramifications as well?

I just thought it is very interesting that these things are starting to happening in other countries. It could be a sign for what is to come in a few years when the masses all flood into gold and silver but cannot due to laws and regulation.

until such a time until gold breaks above 1900 and silver over 50, I think we can still expect normal market conditions.

[SilverRex]

what a wild friday on silver prices. In short, it is way more bullish than I thought. After it broke the 18.50 resistance, it was clear sky until 21-22 and it already tested 21 last night.

At this rate, I may have to up my target to 25 and 35 instead of 22 and 25 when this run is over by Aug/Sept

count remains the same. a clear 5 waves up to 21. Expecting a wave IV consolidation then one more pop higher than 21.

resistance for silver lies at 22 and 23 follow by 25. If you are still holding silver and want to take profit, those would be some areas to consider.

I am keeping an alt path just in case I have my counts wrong and silver has already completed a wave III top (which is the most powerful wave during this summer run up) a steep retrace back to the previous wave iii/iv range down to 19 is completely possible.

http://i.imgur.com/tn3CCxv.png

[SilverRex]

nothing to report on oil, just look at the last chart I posted last week. oil waiting for a final breakout confirmation. it is possible it can consolidate a bit longer or not...

here

I will repost my bullish take on Meg. as you can see we appear to be in a wave 1-2, i-ii setup which is very powerful if breakout is to the upside.

so long Meg does not close below 6.00 I am expecting a similar magnify move just like box 1.

P.S how many remember when ABX.to for many months could not break over 11.00 once it did, look where it is now.

for Meg it has been trying to break and sustain above 7.00 for 7-8 times. the next time we cross over and sustain above this, it will target 10-12 dollars

http://i.imgur.com/gZXpFPn.png

[KappaSigma]

Was hoping for a larger baytex open to dump shares.

[KappaSigma]

im impatient this morning. Sold 8,000 baytex shares for about 4% gain. Still holding 13,500 baytex shares.

[riander5]

Im not so sure MEG or BTE is gonna gain here. Buying seems to have run out of juice for oil for now. Ill wait to see how this plays out, unfortunate i didnt spot it earlier.... could have made some juicy gains off these swings

https://s32.postimg.org/3yjag0m51/Capture.jpg

[SilverRex]

Originally posted by riander5
Im not so sure MEG or BTE is gonna gain here. Buying seems to have run out of juice for oil for now. Ill wait to see how this plays out, unfortunate i didnt spot it earlier.... could have made some juicy gains off these swings

https://s32.postimg.org/3yjag0m51/Capture.jpg

market is quiet due to US july 4th holiday.

oil has two ways to go. Either it breaks out now in a wave 1-2, i-ii (which to me is the same setup as Meg and even Bte)

or it consolidates further towards a wave 'E' Scenario down to the 46-47 area which will be a great last chance buying.

either way, once oil breaks out to the upside, I see a huge burst in energy stocks moving to new highs

[riander5]

Originally posted by SilverRex


market is quiet due to US july 4th holiday.

oil has two ways to go. Either it breaks out now in a wave 1-2, i-ii (which to me is the same setup as Meg and even Bte)

or it consolidates further towards a wave 'E' Scenario down to the 46-47 area which will be a great last chance buying.

either way, once oil breaks out to the upside, I see a huge burst in energy stocks moving to new highs

Well i cant argue with your point that oil has two ways to go. In fact every stock and future does indeed have two ways to go :rofl:

Im still bullish on oil, but im curious to see how this descending triangle plays out. Although im also very bullish on oil, i wonder if this triangle will play out properly and we finally see a 40-43 oil price like people have been predicting since it topped out at 51 and was due for a correction.

[asp integra]

tck.a up to 19.55, debating selling as its hit a new high for the year (bought at 17.00 but part of me wonders if it has more to go)

[riander5]

Originally posted by asp integra
tck.a up to 19.55, debating selling as its hit a new high for the year (bought at 17.00 but part of me wonders if it has more to go)

You keep posting updates on this stock and i keep dying a bit inside. It has no ceiling!!!

Congrats to you though amazing gains on it

[KappaSigma]

[QUOTE]Originally posted by KappaSigma
im impatient this morning. Sold 8,000 baytex shares for about 4% gain. Still holding 13,500 baytex shares. [/QUOTE

Due to market being quiet. I sold rest of holdings for 4% gain. Always nice to lock in profit. Have a large buy order placed a few pennies down.

[riander5]

PS has anyone noticed NG's slow climb from 1.60 - 3 dollars

I have not been paying attention at all although i was vaguely aware of a price recovery.

UGAZ went from 20 - 50

Wouldnt be feasible to catch all that price gain, but really shaking my head that i made 0 money off of it. NG was pegged for a HUGE recovery back in may just by looking at weekly / daily RSI

fml i give up

[KappaSigma]

Originally posted by riander5
PS has anyone noticed NG's slow climb from 1.60 - 3 dollars

I have not been paying attention at all although i was vaguely aware of a price recovery.

UGAZ went from 20 - 50

Wouldnt be feasible to catch all that price gain, but really shaking my head that i made 0 money off of it. NG was pegged for a HUGE recovery back in may just by looking at weekly / daily RSI

fml i give up

Not sure if people realize as media/news always quote nymex. This is not the price most AB gas companies get. Look at aeco which is much less, about 2.30 gj canadian right now. Its recovered a ton but much less then the past and its US counterpart.

[SilverRex]

ok now that the US market is back let see how silver does.

count remains the same, was expecting a wave IV consolidation and so far so good. I am still expecting this to be a micro wave IV consolidation (once completed) we should breakout with another set of 5 waves higher than 21

the only alt path at this time is if we have already moved into a larger degree wave IV which will possibly target the 19 or slightly lower with the rising 200 EMA. Either scenario still points to the next big move up

18.3 needs to hold for this count to remain valid imo

http://i.imgur.com/UiBYfpx.png

[KappaSigma]

Starting to layer on a baytex position again. Hoping it gets to 10% down at some point.

[riander5]

Originally posted by KappaSigma


Not sure if people realize as media/news always quote nymex. This is not the price most AB gas companies get. Look at aeco which is much less, about 2.30 gj canadian right now. Its recovered a ton but much less then the past and its US counterpart.

Im well aware. If this were the employment thread id be saying - at least producers arent losing money flowing through my companies assets now, and hopefully they want to build some more plants :D

I talk about nymex on here because its what we can trade via etfs

[bball2]

Bought into MEG @ 6.43

[bspot]

I'm in too deep to add more, but could be a good spot to get in LABU as well.