Official Short-term Investments Thread

[bjstare]

I've been eyeing LABU again, and POU today as well.

[bball2]

Netflix spike up after Comcast X1 announcement;

http://www.recode.net/2016/7/5/12096380/comcast-to-let-netflix-onto-its-x1-platform-which-is-a-very-big-deal

[bspot]

^Does this mean Shaw's Gateway system will have Netflix support sometime in the 2020's? :p

[bball2]

^^ Whoa there, let's not overreact now :rofl:

[Cdog]

any one know how to buy this one at open market?

https://www.nbc.ca/en/about-us/news/news-room/press-releases/2016/20160602-National-Bank-of-Canada-Announces-NVCC-Preferred-Share-Offering.html

[ickyflex]

Any update on crude SilverRex

[troyl]

Originally posted by Cdog
any one know how to buy this one at open market?

https://www.nbc.ca/en/about-us/news/news-room/press-releases/2016/20160602-National-Bank-of-Canada-Announces-NVCC-Preferred-Share-Offering.html

Ticker is NA.pr.a I beleive.

[SilverRex]

Originally posted by ickyflex
Any update on crude SilverRex

it would appear oil is still in a large triangle consolidation pattern with the low side possibly testing under 46 once more.

however a new rising channel has stopped oil from falling further right at 46.31

right now if you are thinking oil play, best to wait until price stabilizes and regains above 47 as a first sign a bottom 'may' be in.

also 46.75 is the 78% retracement of the last 46-50 runup. while most people usually only care about retracement levels between 38-61%. the 78% is also a good level (if) the recent sell off is in fact a wave 2 correction.

energy stocks are holding up well considering charts like bte and meg looks very bullish and waiting for oil to break above 50 so I will guess the bottom is near. However if the bottom for oil falls out then something else larger is at play.

[riander5]

Originally posted by ickyflex
Any update on crude SilverRex

its down

[bspot]

^:rofl:

[SilverRex]

for the sake of everyone who holds investment in the energy sector. lets hope oil does not close below 45.75, then I still expect oil to eventually break out of this consolidation pattern out of 50 and onto 53-55

sorry typo there.. should be 45.75

[ercchry]

Just dropped my dgc contracts for 50% gain... Loving this run, just wish I was paying attention back in jan/feb... Mar/April... :rofl:

http://i.imgur.com/Otu0LkZ.gif

[SilverRex]

the bullish percent index for gold has reached 100% something it has not done since the 2009-2011 run, which is just another indicator that the bull market is back.

I am expect gold to be topping out soon in the next couple of days (preferably would like to see it hit 1381

I am hoping gdx/gdxj will hit 32/51 and will begin to unwind my position in anticipation for a pull back that would last about 5-7 days. reload for the next run higher above 1400

[bspot]

^ Are you going to fully exit positions, or just partially? I'm still sitting on my silver as well.

[SilverRex]

Originally posted by bspot
^ Are you going to fully exit positions, or just partially? I'm still sitting on my silver as well.

I will for sure eject all my leveraged positions. It will depend on where gold and silver prices are if I want to take a chance to buy back lower.

But given what I have learned this year, I think I will keep at least 30% of my core miners intact to ride it out all the way until Aug/Sept

[riander5]

Didnt jump back in baytex at close. Hoping it can go sub 7 dollars

May have missed the buying opp tho, time will tell

[littledan]

Originally posted by riander5
Didnt jump back in baytex at close. Hoping it can go sub 7 dollars

May have missed the buying opp tho, time will tell

I didn't jump in either at close. The RSI shows overbought so if oil moves down at all overnight then I think BTE will go lower. But if that oil bottom is solid then i'll prob pickup some more shares. Bought some at $7.60 so going to average down if it goes any lower.

[SilverRex]

ok lets focus on gold. over night gold has produced a breakout from the multiyear down trend line over 1358. The trendline that stopped gold from exploding higher during Brexit has now been broken.

the next two resistance which is also crucial and should stop gold's advance in the short term is the 38% retracement level of the 1900 to 1046 drop is at 1381 (which I have been expecting) also a previous top at 1389. with both of these so close to where prices is, I expect gold will most likely find a daily cycle top.

Which is why I will be looking to unwind some of my leveraged gold mining position this week, or perhaps even this morning.

My current guess is if price does get rejected here, then gold may enter a 5-7 day breather and back test the breakout trendline and make ready for another multiweek adavance.

miners such as gdx and gdxj are also near some important resistance. 30/32 and 51/55.

The employment data on friday will be the next big key event as it will impact the US dollar. if it is US dollar negative, it could set it back another 15-20 days which would propel gold much higher.

for this reason, I may not completely exit all my gold position in case I miss an extreme move in this sector. But since I am 100% invested in this sector, I need to reduce my exposure in order to give my self a chance to buy back.


http://i.imgur.com/zRF41cP.png

[SilverRex]

lets visit the silver count.

it has not changed since my last posting that silver was flagging for an upside breakout. while it did breakout from the flag after hours (overnight) and possibly have finished a sub wave i of v. the expectation is to see silver break above the high of 21. yet caution as it is now flirting with the 50 day moving average and previous wave i at 20.00, price needs to maintain above this, multiple close below this in various time frame will mean there is a high likelihood that the wave IV consolidation isnt done and price will target under 19.5 and perhaps even the 200 day at 19.00

but over all trend remains up. considering anything big drop from this point a good entry/pickup

http://i.imgur.com/3XDJaqD.png

[SilverRex]

as for oil

looks like it is now consolidating in an ABCDE pattern. if I had to guess I think price will hold considering there is momentum divergence and MACD divergence occurring.

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

[SilverRex]

exited all my Jnug position which I bought at 160 (sold at 273)

bought a small position in bte and meg (planning to hold these until they hit at least double digit)

[bball2]

So for anyone that browses r/wallstreetbets, there's this guy there called fscomeau, and so far for every prediction he makes pretty much the opposite happens.

His pick yesterday was to short VRX;

http://i.imgur.com/pnRyVME.jpg

So naturally I picked up a couple shares and will see what happens :rofl:

[bspot]

Originally posted by SilverRex
exited all my Jnug position which I bought at 160 (sold at 273)

bought a small position in bte and meg (planning to hold these until they hit at least double digit)

Holy, nice hold.

I dumped JNUG the morning after Brexit. Attempted to sell at 220, brokerage problems held the order up until 207. Either way that looks like a very premature dump now.

I did turn a lot of that into individual miners at least so I saw some upside.

The rest went to LABU and MEG. LABU looks to be continuing the up trend today after a pull back yesterday. I need to get my exit strategy figured out.

As for MEG, most of my position is at 6.21, and it has held up really well despite the negative price action in oil.

Anyone else seeing a pretty nice triple bottom on the oil chart?

[SilverRex]

Originally posted by bspot


Holy, nice hold.

I dumped JNUG the morning after Brexit. Attempted to sell at 220, brokerage problems held the order up until 207. Either way that looks like a very premature dump now.

I did turn a lot of that into individual miners at least so I saw some upside.

The rest went to LABU and MEG. LABU looks to be continuing the up trend today after a pull back yesterday. I need to get my exit strategy figured out.

As for MEG, most of my position is at 6.21, and it has held up really well despite the negative price action in oil.

Anyone else seeing a pretty nice triple bottom on the oil chart?

I see divergence every where to oil price -looking like a bottom here.
biotech is also performing extremely well and this is the beginning where it will continue to lead the stock market

my focus remains in gold but gold is due for a breather. if silver breaks 21 and gold above 1380 I may sell 60% of my core miners.

[bspot]

Looking at the daily chart for XBI, the one thing that concerns me is to run back to the top of the channel, the 200 day MA is now going to provide resistance on the move up. If that resistance is strong enough, that might be a spot to take a good chunk of profits and wait for a pull back.

It's been so long since the 200 DMA has been in play that there is no real indicator of what to expect at that point. If this is in fact the big move that finally breaks to the upside of the green channel then there would be significant upside left on the table by doing anything at the 200 DMA besides holding.

Thoughts? Anyone still holding?

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_edc2b5f4fb2594a4c8ad0cec363f874c.png

[bjstare]

I finally got back in POU this morning. Missed the buy opportunity on LABU today, work got in the way. edit: I'm still looking for the right time to get back into LABU, probably wait for it to take another 1 or 2 day breather sometime.

[SilverRex]

added another bte position :)

[riander5]

Shoulda got in when it was down 2%, but getting back in ol baytex. This bottom trendline just cant be broken (at least i hope not lol)

Still holding LABU as well. Hoping it has another 3-4 dollars in this run

[bspot]

Anyone holding any utilities? I'm assuming I missed the boat there, but curious what people have in their portfolios as capital safe havens.

[SilverRex]

using erx 3x chart to see where energy stocks are headed.

for a while I have been expecting a 5 wave top follow by a wave 2 correction which is a reason I wanted to warn scaling back in this sector. but so far oil has not collapsed and energy stocks has been holding up extremely well. No one says wave 2 correction has to be severe some times it can be very mild (like the mining sector)

the current count in black points to a possible 1-2, I-II setup ready for an upside breakout. that is why I picked up a few position in BTE and MEG this morning.

the only thing of concern with this count is time has not corrected nearly enough relative to price and so it is still possible it can produce a 3-3-3 or 3-3-5 waves back down under 26 as an alternate path. This is worse case scenario imo.

I do have an orange count which fits nicely with both time and price which also lines up with a near term upside breakout.

so 2 of 3 counts points to an immediate breakout.

we shall see how it unfolds.

http://i.imgur.com/H7ueo1u.png

[bjstare]

Originally posted by bspot
Anyone holding any utilities? I'm assuming I missed the boat there, but curious what people have in their portfolios as capital safe havens.

Not exactly sure what you mean by a captial safe haven, but I've had ENF for some time now (I know, not a utility). It's probably my longest term hold and I've been happy to park a bit of money there. :dunno:

[littledan]

I pretty much count telus, bce, and rogers as utilities. Fairly stable and return a nice dividend ~4-5%

[bspot]

Originally posted by cjblair


Not exactly sure what you mean by a captial safe haven, but I've had ENF for some time now (I know, not a utility). It's probably my longest term hold and I've been happy to park a bit of money there. :dunno:

During market uncertainty capital "flight to safety" generally flows to bonds, precious metals, utilities, healthcare and financials, no?


I pretty much count telus, bce, and rogers as utilities. Fairly stable and return a nice dividend ~4-5%

Telus has been on my watch list for a while. I should have pulled the trigger ages ago.

[troyl]

Nabbed some TLT Puts. 135 Strike Dec 16 expiry. Hope this bond rally can fade.

[SilverRex]

dont get caught up in the daily wiggles.

focus on the bigger picture

a swing high to break above 48.66 is the next confirmation the low is in
. Might even double down on oil if it can produce a weekly close above 50

http://i.imgur.com/Y65ziQN.png

[bball2]

Originally posted by bball2
So for anyone that browses r/wallstreetbets, there's this guy there called fscomeau, and so far for every prediction he makes pretty much the opposite happens.

His pick yesterday was to short VRX;

So naturally I picked up a couple shares and will see what happens :rofl:

Closed off my VRX position after 13% rise since yesterday :clap:

[bjstare]

Trading halt on POU. Reason: Pending news.....

:(

Source http://www.stockhouse.com/news/press-releases/2016/07/06/iiroc-trade-halt-paramount-resources-ltd

[SilverRex]

i posted this before. and couldnt help but think if biotech is trying to do the same thing as what the miners did.

lets see where we are... well.. so far so good

http://i.imgur.com/gaMhc9T.png

[SilverRex]

Originally posted by cjblair
Trading halt on POU. Reason: Pending news.....

:(

Source http://www.stockhouse.com/news/press-releases/2016/07/06/iiroc-trade-halt-paramount-resources-ltd

why the sad face. it could be positive

[bjstare]

Originally posted by SilverRex


why the sad face. it could be positive

Yeah, looks like it is. Disregard sad face. haha

http://paramountres.mwnewsroom.com/manual-releases?nodeid=3136435

[el_fefes]

^ :rofl:

Got into BTE and HOU today as well...

USLV up 90% for me... might get out soon to lock in some profits...

Does anyone have thought on solar plays? The segment has been getting hammered this year... look at TAN the industry ETF... may be due for a rebound like biotech?

[SilverRex]

miners closed near it's high of the day. looks like it is ready to make one more move higher highs then I think it is very ready to trigger a profit taking event

[bspot]

LABU is just stupid bullish right now. Another crazy strong day, and still some room to run. XBI has a gap to fill up to ~57, on that LABU chart the gap is filled at ~34.

I was debating adding even more MEG, and looking at what oil has been doing since close it looks like I may have missed the boat for now.

[KappaSigma]

Quite a large API draw report this week. Hopefully oil bounces up overnight and bte gaps up tomorrow morning to sell my 14,000 shares!

[Meback]

Originally posted by cjblair
I finally got back in POU this morning. Missed the buy opportunity on LABU today, work got in the way. edit: I'm still looking for the right time to get back into LABU, probably wait for it to take another 1 or 2 day breather sometime.

http://www.cbc.ca/news/canada/calgary/seven-generations-paramount-deal-1.3667975

you fuking savage.

[bspot]

So, if the S&P 500 fails to make a higher high here, and given the performance of late coming largely from utilities and financials, is there a chance we are in a very late bull market and in the approaching months it will be time to sell off?

Last time this happened, energy tanked with the markets. I'm curious how it would play out if the markets came down sooner than later as energy is just coming out of it's lows, and doesn't fundamentally have much to give up for more than the very short term.

Biotech got the crap kicked out of it early. I also wonder what a broader pull back looks like for that sector.

I'd assume gold would pull back decently for the short term as well, but be one of the recovery leaders like has happened in the past.

Anyone sense this is approaching in the near term (within the calendar year) and making plans accordingly?

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_ee2110dd03c3aa09e70ae861a90ffadf.png

[Marsh]

Originally posted by bspot
So, if the S&P 500 fails to make a higher high here, and given the performance of late coming largely from utilities and financials, is there a chance we are in a very late bull market and in the approaching months it will be time to sell off?

Last time this happened, energy tanked with the markets. I'm curious how it would play out if the markets came down sooner than later as energy is just coming out of it's lows, and doesn't fundamentally have much to give up for more than the very short term.

Biotech got the crap kicked out of it early. I also wonder what a broader pull back looks like for that sector.

I'd assume gold would pull back decently for the short term as well, but be one of the recovery leaders like has happened in the past.

Anyone sense this is approaching in the near term (within the calendar year) and making plans accordingly?

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_ee2110dd03c3aa09e70ae861a90ffadf.png

I'm expecting a pull back in August, similar to what we saw last year. I'm only holding a few positions that I picked up a few months ago (MEG, ECA, ENF, RRX) but I'm planning to sell by month end and hope for a pullback like you've suggested. Personally I just don't see crude advancing much more than $52 tops for near term. To me, it seems much more likely to to dip back to low 40's high 30's, at which point I'd try to re-enter. But who knows with crude anyways...

[revelations]

Originally posted by bspot
So, if the S&P 500 fails to make a higher high here, and given the performance of late coming largely from utilities and financials, is there a chance we are in a very late bull market and in the approaching months it will be time to sell off?

Last time this happened, energy tanked with the markets. I'm curious how it would play out if the markets came down sooner than later as energy is just coming out of it's lows, and doesn't fundamentally have much to give up for more than the very short term.

Biotech got the crap kicked out of it early. I also wonder what a broader pull back looks like for that sector.

I'd assume gold would pull back decently for the short term as well, but be one of the recovery leaders like has happened in the past.

Anyone sense this is approaching in the near term (within the calendar year) and making plans accordingly?

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_ee2110dd03c3aa09e70ae861a90ffadf.png

In my opinion, there is too much at stake for the controlling powers to let the markets tank like in '08 - at least at this point. I anticipate the markets around the world to be propped up, at least until after the US election.

Doesent mean we wont get another small drop here and there though.

[SilverRex]

ok folks. I hope everyone is lock and loaded on the energy sector. or if you are holding them for a while, exciting times are ahead.

after oil's 5 pt or ABCDE wave IV consolidation, we have our first 5 wave leg up

the moment will come when first oil breaks above 48.66 to create a daily swing low. Daily chart readers will begin to buy every dip. Then a final nail in the coffin if we can get a weekly close above 50.00 then long term investors will jump in for the 50-60 run

I believe when oil finally breaks free away from 50 to the upside, most energy stocks will breakout into a wave 3 run which will be powerful.

at this point there could be some volatility because of the employment numbers on friday. but personally I think any dip for oil at this point is a buy

P.S actually the swing low is in, 48.66 was for yesterday. today all we need was to have price break above 47.94 which was confirmed this early morning. that should garner momentum

http://i.imgur.com/iXTGo0N.png

[SilverRex]

not much to report on gold/silver other than the short term expectation is that they are due for a 5-7 day correction. gold has a big resistance between 1381-1389 which makes the ideal profit taking zone. and silver at 21.1-21.5

Ideally would like to see gold make one more push towards that zone, then fall for 5-7 days. But if metals are more bullish than I thought, it could also churn sideways for 5-7 days then another breakout. So even if the employment report tomorrow suddenly pushes gold 30+ dollar it may be a good profit taking event

[riander5]

Originally posted by cjblair


Yeah, looks like it is. Disregard sad face. haha

http://paramountres.mwnewsroom.com/manual-releases?nodeid=3136435

A nice easy 20% you animal!

[bjstare]

Originally posted by Meback


http://www.cbc.ca/news/canada/calgary/seven-generations-paramount-deal-1.3667975

you fuking savage.



Originally posted by riander5


A nice easy 20% you animal!

Everyone gets lucky now and then.

I figured there had to be a reason that POU was outpacing the shit out of BTE for the last couple weeks, guess this was it.

[KappaSigma]

Sold all my batex for 3% gain. Decent week so far made almost 9% or 9k in profit.

I always worry that EIA report materially differs from API during the week.

[SilverRex]

Originally posted by KappaSigma
Sold all my batex for 3% gain. Decent week so far made almost 9% or 9k in profit.

I always worry that EIA report materially differs from API during the week.

grads with your trading style and especially with oil consolidating side ways which is the perfect day trading environment. but technically bte is on the cusp of a major breakout.

if the oil report is negative, I will congratulate you for yet another opportunity to buy the dips. however if it is positive. we may see 50 dollar breakout this week.

[SilverRex]

spx/dow all breaking out of it's downtrend line today. this could be biotech's wave 3 move that will punch right thru resistance

[KappaSigma]

Originally posted by SilverRex


grads with your trading style and especially with oil consolidating side ways which is the perfect day trading environment. but technically bte is on the cusp of a major breakout.

if the oil report is negative, I will congratulate you for yet another opportunity to buy the dips. however if it is positive. we may see 50 dollar breakout this week.

Long term im pro oil. My strategy is that when i had my large gain earlier i sold at 8.71. So any trades i make under that is gravy. When it gets close to that i will hold my position again versus day trading (i think).

So far since my big gain, in day trading on 18 trading days ive made just over 13k. These markets are craxy volatile right now.

[SilverRex]

12 more mins until report, while technically oil chart is bullish and waiting for a catalyst to hit it's micro wave 3 up.

silver and gold 5 day rsi is way over sold. cant see it dropping into it's DCL now without having to punch upwards for a divergence. Silver just punched under 19.51 which could be wave C low. Very possible bottom today.

opened a small Jnug position to see if I can catch an upmove from here. worse case I will just ride thru the DCL. all bad trades will be corrected once main trend resumes

P.S looks like report is out at 9am not the usual 8:30

[SilverRex]

if I read it correctly, a draw of 2m. which isnt as big as what the API report shows but still a draw. A gain would have crushed oil.

I think once the profit taking is done. oil should recover imo

[bjstare]

Back in LABU @32.12

Still hanging on to POU, I think it will jump when oil turns up again. At that point, I'll sell and put money back into gold (assuming it's corrected/gone sideways in the meantime).

[KappaSigma]

Originally posted by SilverRex
if I read it correctly, a draw of 2m. which isnt as big as what the API report shows but still a draw. A gain would have crushed oil.

I think once the profit taking is done. oil should recover imo

The api report was so huge accross the board i didnt think eia would come close to it. I wish i had set some buy limit orders. Damn. Oh well. Next week i woulsnt be surprised to see opposite. Storage draws but api lower and then eia surprising and coming out higher draw numbers then api.

[SilverRex]

so far text book abc bottom on silver. a reversal hammer holding above 19.51.

I suspect tomorrow's employment report will potentially spike gold to a higher high. will take profit then wait for a 5-7 day drop into a daily cycle low to reload

[KappaSigma]

Started to layer on a baytex position again.

3500 shares in low 7.20 range.

[SilverRex]

such over reaction in oil. but thats how opportunities are created.

[KappaSigma]

Originally posted by SilverRex
such over reaction in oil. but thats how opportunities are created.

Yup.

Ive such buy orders at lower prices due to quick over reactions like this. Hopefully get filled.

[ickyflex]

Crude just getting crushed...

[SilverRex]

Originally posted by ickyflex
Crude just getting crushed...

no kidding, im wondering if oil just wants to test under 46 one last time.

[KappaSigma]

Another 3500 bpught at 7.20.

I do think naytex q2 earnings due surprise positive at end of month. Just not sure if market will care.

[bball2]

Shorted DWTI @ 83.60

[SilverRex]

as expected, the bottom under 19.51 for a wave C finish is so far panning out.

over all I continue and still remain the same count that silver needs to break above 21.14 one last time before a prolong correction

anything under 19.51 is a great buy and in a week or two anything in the 18s will be an extreme buy

http://i.imgur.com/BF1f6lW.png

[bspot]

Weak day for LABU. Really hoping for a good job report tomorrow and SPY over 210 to push it further, otherwise a new downtrend line may be validated:

(Top red line)

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_f735a2928417b9a2175bb85e69ddc7d6.png

If tomorrow goes poorly I may scale back LABU a bit, or hedge this area with LABD.


Added more MEG at 6.38 for a long hold and some UWTI at 27.19 with a tight stop for a shorter term flip.

[bjstare]

Originally posted by bspot
Weak day for LABU. Really hoping for a good job report tomorrow and SPY over 210 to push it further, otherwise a new downtrend line may be validated:

(Top red line)

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_f735a2928417b9a2175bb85e69ddc7d6.png

If tomorrow goes poorly I may scale back LABU a bit, or hedge this area with LABD.


Added more MEG at 6.38 for a long hold and some UWTI at 27.19 with a tight stop for a shorter term flip.

Yeah, if things don't turn around soon I'll probably be unloading my LABU.

[bspot]

Stopped out of UWTI. Holy hell. That was entirely premature buying on my part.

EDIT: Going on a bottom fishing expedition.

Surely $45 will hold? :rofl:

[SilverRex]

if oil does not recover quickly next stop will be the 200daily EMA at 44.

the only positive sign is that energy stocks are still holding up very well. Either the drop in oil is over done which will snap back or energy stocks will crash.

looking at the 2x etf hou.to

why does a leverage ETF have a better chart?

I think the sell of should be done

http://i.imgur.com/Hh1YXtv.png

[KappaSigma]

Hoping this is just an over reaction. Up to 10,500 bayrex shares avg 7.19.

Did put in a limit sell at 7.40 incase it snaps back while im away.

[bspot]

^How do you sit down with balls that big?

[ercchry]

Should of bought more dgc during the morning dip :cry:

[KappaSigma]

Originally posted by bspot
^How do you sit down with balls that big?

For me i have zero debt. No kortgage. No car pmt etc. Plus up about 30k. So thats what i can risk. So at 10.5k shares i can ride it down around 40% if i wanted and still be debt free.

Plus im not risking profit. Everytime i make money, i strip it away and but itdown on my investment loc.

[SilverRex]

Originally posted by KappaSigma
Hoping this is just an over reaction. Up to 10,500 bayrex shares avg 7.19.

Did put in a limit sell at 7.40 incase it snaps back while im away.

its an over reaction. considering oil made a lower low, energy stocks are no where near it's last major low.

you picked the right time and year to invest my friend

[KappaSigma]

Originally posted by SilverRex


its an over reaction. considering oil made a lower low, energy stocks are no where near it's last major low.

you picked the right time and year to invest my friend

My goal is to try andavg 500 per day. So far im about 700 per day. I know itwont last but this is one of those once in a decafe type investment years imo.

[SilverRex]

again i was surprised by the sell off in oil. and looking at USO chart. it simply still in an ABCDE diagonal 5 pt consolidation. we have triple support. I think it is an over reaction and the fact that energy stocks remains well above it's previous low, it wont be long until we see some strong reversal.

sadly most of my funds are tied up in the mining complex otherwise I would love to double down here

http://i.imgur.com/TILz6eA.png

[bspot]

LABU down $1.38 after-hours so far.

JUNO had a clinical trial put on hold after 2 patients died. Down 30% after hours.

If it's still down in the morning, I'm going bargain hunting. They have 8 other drugs in trials I believe.

Of note, JUNO is 1.76% XBI, which is what LABU tracks. Hopefully this creates a buying opportunity for some and the train gets back on the tracks.

[bjstare]

Originally posted by bspot
LABU down $1.38 after-hours so far.

JUNO had a clinical trial put on hold after 2 patients died. Down 30% after hours.

If it's still down in the morning, I'm going bargain hunting. They have 8 other drugs in trials I believe.

Of note, JUNO is 1.76% XBI, which is what LABU tracks. Hopefully this creates a buying opportunity for some and the train gets back on the tracks.

I saw that, and I was thinking the same. I'm hoping it hurts XBI a bit and I have a good opportunity to buy and hold.

[SilverRex]

30 minutes until the job report.

if it spikes gold I will be looking to take profit when gold reaches 1380-1418 range

however if it pushes gold down instead, then I will look to add back my mining position (maybe even USLV) with silver under 19 and gold under 1345

[bspot]

Massive jobs report. LABU back to a price that is rational given the bio news last night. What an after hours roller coaster.

[KappaSigma]

Originally posted by SilverRex
30 minutes until the job report.

if it spikes gold I will be looking to take profit when gold reaches 1380-1418 range

however if it pushes gold down instead, then I will look to add back my mining position (maybe even USLV) with silver under 19 and gold under 1345

Sounds like job report was huge and destroyed their estimate.

[SilverRex]

looks like a very strong payroll. that will hurt gold in the short term. will start to add back some position in the mining complex once I see some good bargin. if this is the trigger that forces gold to move into a 5-7 correction then be warned that it could potentially head lower in a couple of days.

but for now I am going to scale back in. besides gold could still reverse fully here before open. so we will see how the day goes

well the US dollar strength appears to be fully reversing course.

if somehow gold/silver still manages to reverse and make higher instead silver over 21 and gold over 1380 then I am going to take profit instead and wait for the real 5-7 correction

[SilverRex]

thanks to the strong employment report, spx/dow/tsx all breaking out for real.

this is the 1st week of a new intermediate cycle and I do not expect it to top until sept/oct.

[KappaSigma]

I dumped all my baytex at 7.34 for 1,400 profit or 1.9%

Set limit buys lower again.

[SilverRex]

right now I have two paths for miners. Either the micro wave iv is nearly done and we get one more push towards another 52 week high then a 5-7 day correction or the 5-7 day correction is happening now in the alt red path.

either way as long as we remain above 27, miners will continue to have momentum to the upside for the rest of the month

http://i.imgur.com/Xe4ps74.png

[bball2]

Damn oil just getting obliterated

[SilverRex]

the short term sentiment is extremely oversold. regardless of direction I think oil is due for a bounce anyways

[KappaSigma]

I caught the dip again on baytex and just sold again for 455 profit. Good day so far.

[SilverRex]

the spx is probably less than 1% away from producing a historical new high. Dow is about 1.4% away - Anyone convinced we are still in a bear market?

[bspot]

^I feel sheepish about my SPX chart from a couple days ago after today. (EDIT: I was until I looked on the monthly. Still some work to go to make all time highs. Hope it's coming this summer.)

Happy though, as I'm cash poor right now and have a lot of things I'm letting run.

After 3 runs up this channel with Biotech, the lesson to not screw with your position in the middle of the channel has finally set in, and despite the scares I'm still holding everything. Next week will be time to start dialing it back as the top of the channel approaches and we see if XBI can finally break out of the channel.

I realllly want oil to sort it's shit out soon so I can free up some of that capital. Still up on my position, but barely and haven't come close to meeting my goals with it.

[KappaSigma]

Unless oil pulls up to close to 50 soon, cant see oil stocls keeping value and will trend a bit lower.

[SilverRex]

Originally posted by KappaSigma
Unless oil pulls up to close to 50 soon, cant see oil stocls keeping value and will trend a bit lower.

oil is weak and a bit down but oil stocks up, stocks are following the general market higher. The only way I think energy stocks would make another significant sell off is if oil capitulate down to 42-44 (if it hadnt already done so)

[SilverRex]

new 52 week high for Yamana and Silver Wheaton

[revelations]

Originally posted by SilverRex
the spx is probably less than 1% away from producing a historical new high. Dow is about 1.4% away - Anyone convinced we are still in a bear market?

No, we have been in a range market the past 1 year.

Having said that, the 10y UST are are 1.35% and has been falling - this is putting huge down force on the markets, with each passing week.

[bspot]

peeled off 25% of my LABU. Later next week I'll start using trailing stops on another 50% and let the last 25% run to see if it breaks through.

[buh_buh]

LABU is on a tear right now.
Tempted to sell, but hard to when it just keeps going up.