Official Short-term Investments Thread

[dandia89]

todays been a great day in the market

GM finally got out of the negative for me

[SilverRex]

want to have a relaxed weakened. sold Jnug at 299.6 which I bought at yesterday at 267. will continue to hold the rest of my core miners for that magic number at 1381 next week.

[KappaSigma]

Come on baytex keep dropping. I want bids to fill.

[bjstare]

I sold LABU just before close today. I feel like it must be taking a break soon, and don't have the luxury of a mid-$20s entry like some of you guys haha.

[riander5]

Still holding labu up around 30% on it. Also holding baytex about even. JNUG gains missed make me cry every day

[bspot]

^I see we've been trading the same way. Just replace Baytex with Meg, and that's the story of my month.

[ercchry]

I put in my sell order like 5min too late on dgc... Almost had it gone right at the peak , ended up close to even by end of day. Guess I'm holding those contracts over the weekend

[SilverRex]

alright lets see what this week has in store for us.

lets start with oil.

Right now, oil has officially moved into an intermediate degree cycle low during an ICL, the final sell off usually looks scary and begins to turn the sentiment very bearish. However I see this as an extremely great opportunity to pickup this sector because I expect 60-70 oil once this correction ends.

because this is an intermediate degree cycle, the low can (has the ability) to break the previous top under 42.50, and since oil's 38% correction of the 26 to 51 run still lies just under 42. it is possible this area could be tested if oil does not reverse from here.

Yet, looking at the price action this morning, unless oil gives us some sort of capitulation event so far it is beginning to look like it wants to reverse.

first it look like we have 5 waves down and the latest action looks like a descending wedge which is usually corrective and looks like it can breakout to the upside.

with short term sentiment extremely oversold, I see a bounce this week if not today regardless of direction.

positive momentum is spotted as well. Over all oil needs to close back above 47.5 and ultimately 50.00 to garner any significant technical buying. However I i suggest to take this opportunity to set yourself up for position.

and with the stock market breaking or about to break new historical highs. This will continue to keep the energy stock from falling too hard.

http://i.imgur.com/5lBA1hS.png

[SilverRex]

before I dial down to gold on the hourly, i wanted to bring up the daily chart first.

Gold is due for a daily cycle low that suppose to last 5-7 days. I thought the strong NFP report on friday would have done the trick but gold fully recovered and nearly made a new high to begin the week overnight.

My current expectation is still I wanted to see gold make a higher high and test the 1381-1418 area for a divergence and SOS (sell on strength) then have gold drop down to retest the previous breakout line under 1340. it may even can go as low as 1310 and break the rising channel to scare every one away.

That is why I have taking all my profits off the table on Jnug. I will only get back into leverage position if gold presents a good buying opportunity by dropping 75 dollars. And I may even sell off some more of my core positions if gold does produce a swing high first this week.

http://i.imgur.com/5V9lCdB.png

[SilverRex]

Gold on the hourly, after a widening megephone pattern that was broken to the upside. I think gold is trying to back test the breakout before heading higher.

again, if gold decides to drop down into the DCL now for 5-7 days. it's a win win for me. But my expectation remains a swing high follow by a big drop

http://i.imgur.com/s7qlDcD.png

[SilverRex]

counts on silver remains the same from my last couple of posting. wave IV was a bit stretched but still broke out after producing a wave C low.

while it is entirely possible silver 's DCL has already begun and could continue to trade sideways while producing a lower low each time. if gold does produce a swing high than I also expect silver to break above 21 at least once before entering a larger correction. Red count suggest silver could end quickly here as soon as it cross above 21.14. A more bullish count suggest silver has has 1 wave up and 2 more swings higher that could test 21.5-23.0 area depending on how high gold goes.

ultimately one needs to keep silver prices 18-19 in the back of my your mind. any time price can come down to these area regardless of what counts we have, it is probably another last chance opportunity to get into silver before it runs to 25+

(similar situation when I first said silver was an extreme buy under 16.00) and I think that has now came and gone. so under 19 is the new 16 sort of speak

http://i.imgur.com/07Eisg5.png

[SilverRex]

it will be very interesting to see what happens when the stock market makes a new high. Especially the Nasdaq and if it would trigger a massive short covering event considering how many are bearish and waiting for a 08 repeat

the 15 year consolidation cup/handle on the nasdaq is no joke. we could be looking at a bubble phase 20k nasdaq in a couple of years time

DOW is 1/2 a percent away from a historical high. Will this kill all the bears once and for all?

[SilverRex]

look at Jnug go, it has gone up over 200% in the last 5+ weeks, although I think the pull back is very due. difficult to chase at this height

[Vanish3d]

oh wow.... I was away for 1.5 weeks. I held NUGT and USLV without looking at them for that period and I just opened up my computer and had to check the numbers a couple times to make sure I was seeing things right. That's a nice run! :hitit:

[riander5]

Originally posted by Vanish3d
oh wow.... I was away for 1.5 weeks. I held NUGT and USLV without looking at them for that period and I just opened up my computer and had to check the numbers a couple times to make sure I was seeing things right. That's a nice run! :hitit:

LOL you hold 3x leveraged etfs for weeks without checking often?

Not sure what to say about that, but it sure worked out for you

[riander5]

Unfortunately LABU has not made me 200% like all you guys in JNUG.

Sitting on 30% gains right now, RSI approaching oversold so I may take most of my position off the table in the next 2-3 days as it may lose momentum

[el_fefes]

Sold USLV at +97%... will buy on the dips

[SilverRex]

DOW is .04% away from making an all time high

I think the S&P already made theirs

Nasdaq just tested 5000, lets see if it can close above 5k this year

[Vanish3d]

Originally posted by riander5


LOL you hold 3x leveraged etfs for weeks without checking often?

Not sure what to say about that, but it sure worked out for you

I don't usually hold ETFs for longer than a few days, but this time I set my stops and left on vacation. I was expecting my stops to fill

[SilverRex]

ok with the S&P breaking out to an all time high yesterday (DOW looking like it will do that today as well)

we may officially be ready in a wave III move in the coming weeks/months. Which now means any dip is a great buying opportunity regardless of how much it drops. This sub wave III should take us up to 2400/2500.

an alt count if wave II still has one more leg down due to any unforeseen (Brexit like event) I only see price retesting 2000 or under it. Then again it just means another gift at low prices.

This may also be the moment when biotech finally breaksout from its funk/trading range and into a new trading range.

http://i.imgur.com/wH0hJet.png

[SilverRex]

as for silver. What looked like it finally broke out of it's wave IV consolidation actually has turned into a larger flag. if silver does not breakout soon then the chance that silver has already started a DCL decline with further weakness ahead will be apparent as it has been tradiing sideways over a week after hitting a nearterm high above 21.

while I am expecting a DCL drop for gold and silver. This will be the moment to load up if drops are significant. (especially if silver can get down into the low 19s and even 18s)

http://i.imgur.com/9Z8e9MQ.png

[SilverRex]

oil finally making a good move upwards. as long as 45 holds. lets see if bottom is in. Energy stocks is extremely strong at this time relative to oil prices and continues to hold or has been consolidating for 2 months. once oil breaks out above 50. most energy stocks will be moving into wave III advance which could double most position.

[KappaSigma]

Hoping baytex has a nice morning pop due to oil being up. I have 14,000 shares at 7.20 i want to sell today.

[SilverRex]

Originally posted by KappaSigma
Hoping baytex has a nice morning pop due to oil being up. I have 14,000 shares at 7.20 i want to sell today.

you will get it no doubt.

by the way how much core shares of BTE are you holding for the long haul?

[KappaSigma]

Originally posted by SilverRex


you will get it no doubt.

by the way how much core shares of BTE are you holding for the long haul?

Sold for 2200 profit.

Really, zero. I sold for my big gain at 8.71. Anything under that price i will try and day trade. Near tgat price i will rebuy my position to hold.

[SilverRex]

gold is at a very important level closing below 1342 could induce the DCL panic sell off down to the low 1300s.

however silver still hanging onto a potential breakout for a higher high. so we will see which will come first.

as for oil, oil has a swing low on the daily chart. it is very possible the intermediate cycle low may be in.

confirmation requires price to breakout from the down trend line which is some where above 48.5 yet energy stocks as we speak is already breaking out of their own consolidation.

[SilverRex]

caution

energy complex may be breaking out now. if oil follows thru with it's own upside breakout above 48.50 follow by 50.00, this sector could take off

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

[SilverRex]

another update on biotech vs miners using gdx this time.

the same bottoming pattern follow by a non-stop rally. So far so Good

and no this wasnt after the fact, the first time when I posted this was when biotech near 240 and wonder if big money is trying to push price down for an undercut low/shake out. what ever you want to call it.

http://i.imgur.com/RjdAf3Y.png

[SilverRex]

oil in a micro wave iv correction. as long as we hold above 45, I expect wave v to move higher over 46 by the end of the day

[ickyflex]

Oil running :clap:

[SilverRex]

yes if the intermediate cycle low for oil is completed then I now expect oil to at least run to 60-62 dollars in the coming 2 months. Most energy stock will probably double where they are now

[bjstare]

Originally posted by SilverRex
yes if the intermediate cycle low for oil is completed then I now expect oil to at least run to 60-62 dollars in the coming 2 months. Most energy stock will probably double where they are now

I think that's a bold prediction.

Having said that, I hope you're right. I have enough energy holdings right now, that I'd benefit greatly from that. :)

[riander5]

Id love to see oil stocks double. Cmon baytex (and cpg for my rrsp haha)

More realistically id be ecstatic with 20-30% gains.

Gold getting crushed right now.. may have to look at some miners soon

[SilverRex]

Originally posted by riander5
Id love to see oil stocks double. Cmon baytex (and cpg for my rrsp haha)

More realistically id be ecstatic with 20-30% gains.

Gold getting crushed right now.. may have to look at some miners soon

after taking some great profits from Jnug. I have moved about 17% of my portfolio into bte/meg. So we are all now in the same boat

[SilverRex]

silver is silly so bullish. while gold broke the low of the NFP day, silver is no where near it's own low.

I cant imagine where silver will be if gold decides to end it's DCL here. Worse case I see gold testing another 20 dollars lower and I think that is it.

we may have to say good bye to 18 dollar silver.

[revelations]

With Japan about to drop helicopter money, the major indices will now keep going up as this fiscal policy may/many not result in the same in North America and/or QE4.

[troyl]

Saw in the DOB that DVN could reach a deal with Wolf this week on the sale of their stake in access p/l.

[bball2]

Shorted GPRO;

July 22, 11 PUT @ 0.22
Jul 29, 12 PUT @ 0.75

Earnings announcement on the 19th

[riander5]

Originally posted by bball2
Shorted GPRO;

July 22, 11 PUT @ 0.22
Jul 29, 12 PUT @ 0.75

Earnings announcement on the 19th

Any reason you did two different puts, and those two specifically?

[SilverRex]

Picked up a position in jnug before close. Will add if gold drops another round towards low 1300. once this DCL ends gold should make new highs in the coming weeks

[riander5]

JNUG JNUG JNUG

May sell LABU as it takes a breather and get some gold going. We will see how tomorrow goes.

Noticed YRI hardly moved despite golds big move down today.

[KappaSigma]

Really ugly api report this week.

[bball2]

Originally posted by riander5


Any reason you did two different puts, and those two specifically?

Bought the July 22 puts first and somewhat doubled down with a less risky (but more expensive) one on July 29. Not a very large position so I figure the contracts are going to be either worthless or go up significantly if GPRO misses their earnings estimate.

[ickyflex]

Originally posted by KappaSigma
Really ugly api report this week.

API has lost all credibility. They have been so far off every week

[KappaSigma]

Originally posted by ickyflex


API has lost all credibility. They have been so far off every week

Yup. My hope going into this week is that API was 180 degree shocker compared to last week, market over reacts and then EIA comes out with something decent.

Hoping early morning entry point tomorrow

[bjstare]

API has routinely proven that it's a joke. I'm also hoping for market slipping as a result of API, then jumping if (when?) EIA reports positively tmw.

edit: this is somewhat relevant, and makes sense to me.

http://www.marketwatch.com/story/how-a-pair-of-key-oil-inventory-reports-can-be-so-wildly-different-2016-05-11

[bspot]

Originally posted by bspot

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.


It was up too much premarket for my liking so I didn't get in.

Up 27% AH right now :cry:

Will give XBI/LABU a pop.

[SilverRex]

ok I think the coming days/weeks will be very exciting.

lets look at oil first.

after oil putting in what I think is a wave E (IV) bottom. it has since moved up impulsively with 5 waves. A very strong sign that the bottom may be in. However ultimately the big confirmation will come when oil can break the down trendline starting above 47 follow by 48.75.

so long the recent low holds. oil should now be correcting in a wave 2 pattern. Depending on the oil report today, oil could begin it's sub wave 3 surge pushing into the 47-48 range.

however if oil is negative (unless it is outright disastrous, I think any pull back should be viewed as your last buying opportunity before the big run

http://i.imgur.com/MU0yYkH.png

I also wanted to show you the current EW count on oil price since the 26 bottom. We now have a clear 4 wave structure, with the 5th wave starting. the first wave 1 of 5 should either get near or break out of the consolidation, a wave 2 of 5 that should backtest the breakout. then wave 3 of 5 will be the one you want to be in as oil price begins it's ascent into the 60s over the coming weeks.

also notice the energy stock chart below using XLE. it has broken the consolidation while oil still remains. which tells me it is an early indicator that oil will breakout sooner rather than later.

http://i.imgur.com/R8zWwV7.png

[SilverRex]

as for silver. I said it is silly strong right now.

despite gold down 20 dollar yesterday, silver barely dropped. if that is not a sign of things to come I do not know what is.

silver is in the stages of catching up strongly to gold, so it will continue to out perform gold during this cycle if not for years to come.

it is sitting at the upper channel of this flag consolidation for over a week. just itching for gold to finish it's drop then pop. first target will be between 21.5-22 then 23 and 25.

http://i.imgur.com/D4RlsDW.png

[SilverRex]

as for gold. since gold moved down below wave A (last week's low) under 1340. it has fulfilled the minimum correction wave C requirements. however there is still a potential for still a 5th wave down lower.

so while it is good to have a few position on hand for take advantage of the coming rise. if gold drops another 10-20 dollars, one should see this another last chance buying before another rally/surge ahead.

depending on if gold can get back above the 200 EMA now and begin it's advance or not, silver will either breakout or drop back down.

http://i.imgur.com/Ub1dJTK.png

[SilverRex]

talk about a 180 degree full reverse on Jnug

[bspot]

XBI needs to break the 200 day MA of 58.40, where it was rejected already this morning. It was rejected by the 200 DMA yesterday as well.

I'm out for a couple days, so I've placed a stop at 33.80 on the rest of my LABU in case rejection leads to a sell off.

Really hoping it's not triggered, but with a good chunk of my position running up from the low 20s, I won't complain about profit.

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_4aad9eb112de0916b8b1ad2bc0b8a7c5.png

[SilverRex]

oil dropping so far which is actually a good sign, because if the oil report in 30m is positive, it will be a strong rally couple with an oversold and end of a correction.

[bspot]

Really hoping XBI support of 58 continues to hold and this thing is sandwiched until it breaks to the up side.

Maybe this is the pullback before the bigger move up through the 200DMA and out of the price channel that has held up over the last few months.

If so, I fully expect my stop to be taken out before it goes to the moon :rofl:

[SilverRex]

oil draw 2.5m while it isnt increased like the API report suggest. oil still sold off on the news.

so will see if technical buying occurs confirming that the bottom is in.

bought a small stake in hou.to during today's pull back

[ickyflex]

Oil lost all it's gains from yesterday

Prior -2223K
Gasoline +1213K vs -1000K expected
Distillate +4058K vs 0K expected
Refinery utilization -0.2% vs +0.4% exp
Production up 0.7% w/w
Production up 57K bpd
Production down 11.3% y/y

Production up is never fun

[SilverRex]

Originally posted by ickyflex
Oil lost all it's gains from yesterday

Prior -2223K
Gasoline +1213K vs -1000K expected
Distillate +4058K vs 0K expected
Refinery utilization -0.2% vs +0.4% exp
Production up 0.7% w/w
Production up 57K bpd
Production down 11.3% y/y

Production up is never fun

magic number is 42 oil (38% retracement)
if oil hits that level I may play heavily into hou instead.

[SilverRex]

let see if this is the mother of all shake out.

KappaSigma must be enjoying these swings immensely

[riander5]

Fucking oil reports. Actually also f'ing labu. Cashed it in for 25% gains

[SilverRex]

gold will make a move one way or the other today.

close above 1348 = path to 1381
close below 1334 = path to 1308

[riander5]

Originally posted by SilverRex
gold will make a move one way or the other today.

close above 1348 = path to 1381
close below 1334 = path to 1308

Im quoting you one that one

[ickyflex]

Energy stocks coming back a bit

[joegrang]

Originally posted by riander5


Im quoting you one that one

What if it's between 1338 and 1348?

[cloud7]

Originally posted by joegrang


What if it's between 1338 and 1348?

Then it could go either way. And yes, you can quote me on that one.

[SilverRex]

gdxj about to make another 52 week high and gold hasnt really broken out yet.

anyone taking a chance on oil possibly bottoming here. under 45

[cloud7]

Originally posted by SilverRex
anyone taking a chance on oil possibly bottoming here. under 45

A little bit. Before today, oil was about 30% of my portfolio. Now it's at about 45%.

[SilverRex]

Originally posted by cloud7


A little bit. Before today, oil was about 30% of my portfolio. Now it's at about 45%.

im only at 20% and I do not believe I will add any more. biggest reason is that the energy sector even though I am in the hyperinflationary camp which supports higher stock market and oil prices. It is not shielded from any black swan event which could at any moment crash the entire complex.

My faith is completely in gold/silver. Because it can switch between safe haven, inflation, negative interest rate. While it is subject to it's own volatility, as long as the world does not back their currency to gold, it will continue to appreciate for the rest of anyone's life.

[SilverRex]

if xbi is putting in a typical wave 2 correction here. I could see it drop to 54-55 area as that appears to look like the previous wave 3/4 range

[Cooked Rice]

Anyone holding oil shorts overnight? :dunno:

[riander5]

nay^

[SilverRex]

so looks like gold didnt make a move and most likely was waiting for UK's rate decision. Since the news, gold as I mention could not close above 1348 (came to 1347) which was a backtest of the previous trendline break.

so the suspicion of a 5th wave down is now fully in play.

While the current H&S top as well as fib retracement both targets gold at 1308 which would mark the ideal bottom. Gold is looking like it is in a descending wedge. So we will see how the action plays out of the rest of the week.

Again gold has been officially in a correction since last week and is looking for a daily cycle low. Once the bottom occurs, we should see a steady rise and resumption of the main trend for a couple of weeks.

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

[SilverRex]

one thing to note. US dollar breaking down yet gold is down. The theory behind this is that commercials COT are at record shorts and needed to push gold down as low as possible so that they could cover. once they do, gold will snap back strongly.

silver remains resilient despite gold making a lower low, silver remains above 20, if only silver makes a panic selloff to 19 or even below I think I will load up on USLV

[SilverRex]

oil looking good to start the morning, however similar to gold. it too is missing a 5th wave down as it looks like it is in a wave 4 counter trend rally.

if oil breaks below 45, I think it can still make one more lower low before bottom ends.

in other-words I think close above 46, low is in. close below 45, lower low ahead

[SilverRex]

My current count on gold. once gold finds a bottom between here and 1308. I expect a higher high above 1375 to finish off wave (III). of course a even more bullish scenario can occur, but this is more realistic.

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

[ickyflex]

Devon Sold their 50% share of Alliance Pipeline for $1.4B.

That gives MEG a number at least for theirs

[SilverRex]

sold Meg at open today ( may buyback depending on where oil goes) until oil breaksout, the possibility of a lower low or even towards 42 is still on the table.

using the funds I picked up a position in ABX.to as it has been quite oversold of late while over all miners are still holding up well during gold's Daily cycle decline.

I have one stake in Jnug and not feeling good to dial up the leverage again unless gold drops another 20 dollars.

I feel there is a slight chance gold can potentially bottom here. so I will increase my core miners non-leverage. and if gold does drop another 20 dollars, I will sell some of my core miners and increase my position exposure in Jnug.

also one thing that is amazing, is despite gold being down 20 dollars at one point today. Yamana gold hardly dropped.

I feel we have at the very least one more surge in this sector to a higher high before this cycle finishes

[SilverRex]

i wanted to bring your attention to the GLD gold fund. while the gold chart appears a bottom 'may' be in place.

looking at GLD chart reveals how exactly close it got to the previous wave .i, gold really needed to bottom now without breaching the previous wave .i structure. if gold in fact bottomed today. I expect a higher high ahead with GLD possibly hitting 133-140 area in the coming weeks.

an even more power ful setup of a 1-2, 1-2 (green) could play out if gold decides to suddenly move up like silver did as gold has been very weak during this cycle. But lets not get too ahead of our self. as long as the trend remains up, i am quite happy with the progression

http://i.imgur.com/HM2E6ST.png

[KappaSigma]

Sold baytex this morning and then rebought for a small flip. Nice little 1300 gain. Decent week so far 3500 gain.

Have buy orders for baytex in low 7.20s.

[riander5]

Originally posted by cloud7


Then it could go either way. And yes, you can quote me on that one.

So are you saying.. the stock could either go up or down as well

Quoted

[littledan]

http://www.stockhouse.com/companies/quote/c.sl/supreme-pharmaceuticals-inc

I have a position in this medical marijuana start up. They are re purposing tomato greenhouses to grow the weed. Looking good so far I can see this stock taking off once their licence moves from conditional to fully approved...

[ercchry]

Has anyone noticed how well NAL has been holding up (and even advancing) lately? Pretty good sign imo of a bottom in place for oil when service companies are not tanking anymore

[ickyflex]

Anyone contemplating Nintendo?

Pokemon Go could be a serious cash cow for the company. If the hype holds up and maintains it could be pretty big in my opinion.

Already more daily users than Twitter/SnapChat.

Had a higher average daily time spent, beating Facebook by almost 50%.

New and inflated for sure but something to follow.

Has about a $31B US market cap and is currently generating about $1MM/day from PokemonGo without even being fully released. Say it grows to $2.0MM/day on average after launch. 700MM/Year US of revenue is pretty nuts

[SilverRex]

Originally posted by ickyflex
Anyone contemplating Nintendo?

Pokemon Go could be a serious cash cow for the company. If the hype holds up and maintains it could be pretty big in my opinion.

Already more daily users than Twitter/SnapChat.

Had a higher average daily time spent, beating Facebook by almost 50%.

New and inflated for sure but something to follow.

Has about a $31B US market cap and is currently generating about $1MM/day from PokemonGo without even being fully released. Say it grows to $2.0MM/day on average after launch. 700MM/Year US of revenue is pretty nuts

there is a point, but my own fear is the risk involving play in the real world causing safety issue. While the underlying financial benefit is immense, I can see there will be bad presses down the road like cities or country banning the game

[ercchry]

Hasn't Nintendo already shot up pretty good? I feel like that future success is probably already built into the price

[ickyflex]

Originally posted by SilverRex


there is a point, but my own fear is the risk involving play in the real world causing safety issue. While the underlying financial benefit is immense, I can see there will be bad presses down the road like cities or country banning the game

Absolutely true!

I was just thinking it's making so much money without actually trying.

My long term point of view would be being able to pay say ($500/Month) for your Restaurant to be a pokestop or something. ($1000/Month) to have your location spawn a rare Pokemon or ($200/Event) or something. I just see endless revenue potential in game and out of the game in terms data gathering. Think of all the geotagging they are collecting and analytics they can run.

I so see the big risk the problems that come with the game for sure. There is benefits too as my coworker has said even he has noticed how much his kids have been out exploring and walking. Most they have ever in their lives hah. Always benefits/problems though

[dandia89]

if anything, shorting nintendo looks better.

[bball2]

Originally posted by dandia89
if anything, shorting nintendo looks better.

I dunno, I think this could be a big hit:

http://www.theverge.com/2016/7/14/12187296/nintendo-nes-classic-edition-announced-price-games

[GT.....O?]

Not sure if anyone still follows them, but BBI jumped 30% this morning. No news that i can find as of yet.

Anybody know anything?

[KappaSigma]

Originally posted by GT.....O?
Not sure if anyone still follows them, but BBI jumped 30% this morning. No news that i can find as of yet.

Anybody know anything?

Heard potential farm in.

[SilverRex]

here is an interesting comparison between gold and the US dollar.

If the US dollar has topped just like what gold did back in 2011. Then the next 3 years will be strong gold versus weak US dollar.

pattern is so similar its eerie

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

[riander5]

Originally posted by GT.....O?
Not sure if anyone still follows them, but BBI jumped 30% this morning. No news that i can find as of yet.

Anybody know anything?

Not sure how much id bet on those retards. Have you seen their 2016 AGM presentation? Looks like it was put together by a 6 year old

[dandia89]

Originally posted by bball2


I dunno, I think this could be a big hit:

http://www.theverge.com/2016/7/14/12187296/nintendo-nes-classic-edition-announced-price-games

Pokemon GO is a success, and i feel like it's going to turn into another clash of clans.

Depending how much stake Nintendo has in Pokemon go, would determine how well the stock value will do, IMO. Not sure this nintendo NES edition will mean much in comparison. Only reason I see shorting it for short-term, I think the market will need to correct itself.

[KappaSigma]

Hoping for a down day tomorrow to reload baytex for next week.

[SilverRex]

well will today be the day that gold breaksout of it's descending wedge? confirmation if gold can close above 1348 would be the final nail of the coffin to put away the recent low and to resume upwards for a few weeks.

and yes the rise this morning could still have the potential to be yet another sub wave counter trend move pointing to yet another set of small waves down.

I imagine down side is limited and upside potential is great

http://i.imgur.com/gv7uqM2.png

[SilverRex]

finally for oil. like yeterday. if oil can close above 46 namely 46.06 and better yet above the 200 EMA at 46.18 then the green path will be the most likely count.

failure to do so keeps oil in a down trend broadening wedge that projects one more wave to a lower low.

http://i.imgur.com/vGmx6JN.png

[SilverRex]

so far gold cant breakout of the wedge. if it makes a lower low especially the 1308-1310 level that will be an extremely great area for a bounce. I may unload some core miners and dial up my leverage again at that level

gold down over 10 dollars and my 3 core miners have recovered back to break even and slightly up... at this rate even if gold tanks another 10 dollars. it will be hard to get in at a good price. people are just buying all dips

[SilverRex]

oil looking good to close above the 200 EMA to begin a serious of drawing in technical buying

talk about drama, still havent closed above the 200 EMA officially.

[SilverRex]

here is good article if you are bullish on oil.

http://www.peakprosperity.com/podcast/99333/art-berman-coming-moonshot-oil-prices

[SilverRex]

it would be a wet dream if oil does produce that lower low path (I actually want it to test 42 oil)
and for gold to move up now and push the mining complex to another new 52 week high. then take my profit and move into hou and double up on bte/meg

that would be the perfect rotation for me

[SilverRex]

ok updated the oil chart as it is getting very interesting. The art to trying to decipher the direction can be fun (for me anyways)

so far oil failed to close above the 200 EMA which is was needed in order to continue the green count. it is still very possible and price needs to reverse like...now

a standard view is the missing wave v (in black) that I am concern and may see price dive another lower low.

however the ultimate surprise will be a panic sell off or capitulation forcing oil to hit as low as 42. actually I want to see oil hit 42 because that would induce massive negative sentiment which will be exactly what the market needs to turn oil completely around.

if .... you see oil under 42.87 I suggest this will be a great entry.

now it is up to the market to reveal it's hand.

http://i.imgur.com/l45igJf.png