Official Short-term Investments Thread

[SilverRex]

gold now going for 2nd attempt trying to breakout from the wedge pattern

i want to head into the weekend with a positive feeling ;)

[littledan]

picked up some more BTE at 7.18. We'll see how oil tracks over the next while. If it drops I will be loading more into my position.

Also gonna pick up more SL.CN

[SilverRex]

how many remember when I posted a chart comparing the performance of miners to the 2008 bull market run

it was one of the reason I loaded up 100% in the miners. and so far, it is fulfilling the move pretty much bang on.

I cant say it will continue to follow it so closely. but the similarities again blows me away.

i cant possibly fathom how it can move to closely to it. and if it continues to follow it for the next 3-4 weeks. we are talking about another 25% up move in gdxj. that translate over 500 in Jnug. is it even possible?

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

[riander5]

Symetric Triangle going a few months back? Maybe but looks moreso like there is just a big support line built over a few months and now some near term resistance lines

https://s31.postimg.org/6ue2ievx7/Capture.jpg

[ercchry]

Well... Hopefully this is the bottom for gold, just bought my last little bit... Sitting at 1/3rd of my portfolio now

[KappaSigma]

Rolling the dice on baytex to be up for monday. 13,000 shares at 7.18.

[Neil4Speed]

Originally posted by KappaSigma
Rolling the dice on baytex to be up for monday. 13,000 shares at 7.18.

Big money! Good luck!!

[bball2]

Nice little bump in gold after closing, was fortunate to have my NUGT order filled @ 154 :thumbsup:

[KappaSigma]

Crazy stuff happening in turkey. Wonder how this will impact markets.

[Cdog]

Oil and gold are UP!

[Manhattan]

Unrest in the middle east...of all places. :rolleyes:

[bjstare]

Damn, I started moving into our new house today and missed my chance to buy gold :(

Hopefully it hasn't jumped too much by monday and I can still reasonably get in.

[littledan]

coup popping off in turkey. oil's gonna go up! time to make some $$ kappa!

[Marsh]

Originally posted by littledan
coup popping off in turkey. oil's gonna go up! time to make some $$ kappa!

How's that? Turkey produces about 60k bpd...thats nothing.

[bspot]

Anyone have any Biotech thoughts?

Not sure if my red downtrend line is valid, but if so, we've broken it, and tested it as support.

I got out of LABU partially at 34 on the way up and 33.8 on the way down and am currently completely out.

This feels like a good spot for lower re-entry, but I'm also really torn if this move actually has legs.

Anyone buying/holding? Or wait it out to confirm the move?

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_fc330c18c4ce19403bb0d8fcd9bc043d.png

[SilverRex]

ok folks. this is a critical week for gold/silver. it has the potential to turn up big if it can find a bottom to begin the week.

the initial thrust late last friday at the close was clearly a false breakout. and so it would appear gold is in some sort of abcde consolidation. Typically most analysis will call this a bear continuation lower. And so 'if' that is the case, I suggest to leave some dry powder ready just in case gold dives towards 1308 which was still my original target all along. However abcde can also be a termination pattern to the recent slide in gold.

personally I am already fully invested in this sector. But any decent drop from here I will dial up my leveraged to take advantage of the next rally.

Confirmation that the upside move has begun would need price to exceed 1339 follow by 1348.

the safer play would really be to wait for confirmation before adding to your position.

silver, while it has grinded lower and finally began to show some weakness as gold is now performing better. If silver drops towards 19 or anything below this imo would be an extremely great last chance buying as well.

http://i.imgur.com/rvvn4oy.png

[KappaSigma]

First loss traded in 30 days. 2k loss. No idea where oil heads. Market sentiment short term seems very bearish.

[SilverRex]

Originally posted by KappaSigma
First loss traded in 30 days. 2k loss. No idea where oil heads. Market sentiment short term seems very bearish.

right now the bulls and bears are fighting it out. realistically, the intermediate cycle is trying to pull oil down to 42 area. The deflationary camp is calling for under 26 oil after oil backtest the trendline breakdown when it hit 50

I personally still believe in the re-inflationary camp. but not going to over exposure myself in this sector in case I am wrong.

[Vanish3d]

Assuming we are going to have a nice rally for silver and gold, what is the best vehicle to maximize gains?

[SilverRex]

here is something to think about. How many remember back in March when gold was making lower lows in a declining channel, yet miners was uanble to break the 19s basically traded sideways until gold bottom then broke out to new highs.

Do we have a repeated scenario occurring where gdx(miners) unable to break below 29? once gold bottoms, miners will explode higher...

one can dream...

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

[riander5]

Originally posted by Vanish3d
Assuming we are going to have a nice rally for silver and gold, what is the best vehicle to maximize gains?

Well if you assuming that there is a rally then look no further than JNUG and USLV

[bball2]

Originally posted by Vanish3d
Assuming we are going to have a nice rally for silver and gold, what is the best vehicle to maximize gains?
Call options or triple leveraged index funds; ie) NUGT, JNUG, USLV

[ercchry]

Call options on miners for sure, brexit basically doubled up my investment using dgc

[littledan]

Originally posted by Marsh


How's that? Turkey produces about 60k bpd...thats nothing.

I was theorizing that if the coup did go through then the instability would cause a jump in prices... plus the removal of the black market ISIS oil that flows through Turkey

[KappaSigma]

What a crazy markey day!

[oster]

Esp for baytex. Did you hold onto it?

[KappaSigma]

Originally posted by oster
Esp for baytex. Did you hold onto it?

Nope, sold and lost.

Gasoline glut during a seasonal demand time got me worried. Secretly im hoping for a small crash again so i can buy in huge.

[theken]

I'm holding meg still. Wondering if that's going anywhere soon?

[bball2]

FFFFFFFFFFFFFFFFFFFFUUUUUUUUUUUUUUUUUUUUU

Still holding NFLX :banghead:

[dandia89]

Originally posted by bball2
FFFFFFFFFFFFFFFFFFFFUUUUUUUUUUUUUUUUUUUUU

Still holding NFLX :banghead:

i'm pretty shocked in Q2 miss. thought nflx was a good long term hold

[bball2]

Down 15% already, they missed their quarterly new subscriber numbers by over 30% :eek:

[riander5]

NFLX down time to load up on calls now!!

[bjstare]

I came in here to ask if anyone had NFLX still, guess so.

Curious, what makes you guys think it's a good long term hold? Their prices are going up, and decent competition is cropping up left and right. Their exclusive content is OK, but not mind blowing. I just don't see it :dunno:

Having said that, some call options would probably be a good play. I'd be surprised if they stay at this price for too long without a bit of recovery.

[bball2]

Originally posted by riander5
NFLX down time to load up on calls now!!

When are you planning on buying? Last few NFLX has dipped down like this, there was a quick correction in the morning followed by a longer depression and new lows.

Might set some buy options depending on the price tomorrow morning, or wait another week or so for a better buying opportunity.

Either way a 30% miss on subscriber growth is pretty worrisome since the majority of Netflix's valuations are based on expected continual growth, ie) P/E ratio at 300+

[riander5]

Originally posted by bball2


When are you planning on buying? Last few NFLX has dipped down like this, there was a quick correction in the morning followed by a longer depression and new lows.

Might set some buy options depending on the price tomorrow morning, or wait another week or so for a better buying opportunity.

Either way a 30% miss on subscriber growth is pretty worrisome since the majority of Netflix's valuations are based on expected continual growth, ie) P/E ratio at 300+

I dunno man. Every time NFLX has touched 90 in the past year iv said to myself.. i should def buy call options. Never have and every time it pops back to 100 in a few weeks

I havent touched any options since I got roasted with Nike earlier this year and im still afraid to play with fire haha. This report does put a bit of cloudiness in netflix's long term plans id say. That new show stranger things or whatever is awesome though!

[SilverRex]

gold is still coiling up. while my expectation is to see gold pop soon. as you can see there is a larger degree down channel (in red)

the big confirmation that gold has resume upwards is to see price break above 1348-1350

until then, the best strategy is to sit tight. if gold drops towards the lower part of the channel under 1320 I would start to add position or even dial up some leveraged play.

http://i.imgur.com/EJx6w10.png

[bball2]

Originally posted by riander5


I dunno man. Every time NFLX has touched 90 in the past year iv said to myself.. i should def buy call options. Never have and every time it pops back to 100 in a few weeks

I havent touched any options since I got roasted with Nike earlier this year and im still afraid to play with fire haha. This report does put a bit of cloudiness in netflix's long term plans id say. That new show stranger things or whatever is awesome though!

Added NFLX Mar 17, 17 to my watch list, bid/ask is currently 7.35 x 7.6 and down just over 50% since yesterday. I'll try to get a few calls if it falls under 7.

[KappaSigma]

Yoho going private deal. All cash deal. This is my lower risk strategy on all cash deals. I buy to hold for 1-2 months to close and make usually 1-3% in this case bought at 0.465 or 2.1% to hold till close.

Only risk it doesnt close. But mgt and board are in favour.

[riander5]

Pretty sure that Yoho deal will close

[SilverRex]

sold bte.to and bought Jnug at 273 instead. getting the feeling oil was to go low before it goes high. may get back into energy if I see a good better entry. for now I think a move in gold play is the better strategy

[KappaSigma]

Originally posted by riander5
Pretty sure that Yoho deal will close

I agree.

[bjstare]

Gold and miners seem to be diverging. Didn't silverrex once propose that miners tend to lead gold price?

[bball2]

Originally posted by bball2
Shorted GPRO;

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

Earnings announcement on the 19th

Up 80% on the July 29 puts and 25% on the July 22 puts. Debating whether to cash out now or wait closer to the earnings date (Jul 27).

[SilverRex]

Originally posted by cjblair
Gold and miners seem to be diverging. Didn't silverrex once propose that miners tend to lead gold price?

yes it is possible. gold is about to make a move one way or the other. while miners in general are a bit weaker than usual today, my big three abx, yamana and kinross are all doing extremely well relative to the rest of the sector.

if Jnug sells off 10-15% lower I will move in 30% of my core holdings into it.

otherwise, just sit tight and watch the show

[Kloubek]

Originally posted by bball2


Up 80% on the July 29 puts and 25% on the July 22 puts. Debating whether to cash out now or wait closer to the earnings date (Jul 27).

I just did. Not that I gained on it... in fact, I lost big on GoPro. About 10% of my portfolio in total. :(

[bball2]

Originally posted by Kloubek


I just did. Not that I gained on it... in fact, I lost big on GoPro. About 10% of my portfolio in total. :(

Haha no kidding, I first got into GoPro at around $75 and held it till it hit $20. Fortunately since then all my GoPro plays have been shorts and have come out to about even :P

[swak]

Looks like a potentially good investment, maybe to buy in the next couple months though :dunno:

Massive potential still, imho.

EDIT: Re: .gpro

[ickyflex]

API showing a draw, oil still down lol

[riander5]

Originally posted by bball2


Up 80% on the July 29 puts and 25% on the July 22 puts. Debating whether to cash out now or wait closer to the earnings date (Jul 27).

Nice work, same as netflix i always think, better short gopro at 12-13 bucks

never do

i suck

[SilverRex]

looks like gold could not even make it to the upper down trendline and finally caved into the bear flag pattern towards a lower low.

so the divergence in miners's under performance yesterday relative to gold price was indeed a good signal.

anyhow I just see better opportunity in the sector.

right now gold can go both ways. My eyes is set if gold drops towards 1308 is my magic number
Jnug is also in the 248 premarket. if it can get into the low 200s I will definitely increase my position in this fund.

silver bargain hunting begins with price under 19.21

http://i.imgur.com/pEKFXH7.png

[SilverRex]

silver has a chance to go under 19.21 because that is just how it loves to create a bottom by dropping lower than a previous low to take out people's stops.

if silver hits the 200 EMA under 19. I may want to get into USLV as at the end of the day, silver has more upside potential than gold.

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

[SilverRex]

added more jnug. waiting for even lower prices if possible

[Vanish3d]

so much for the JNUG/USLV rally.
I don't have more $ to add so I'm stuck at high entry points.

[SilverRex]

what a great shake out. converted my abx holding into jnug at 220 and 222. i think i am done for now. not touching it any more unless it drops below 200

[SilverRex]

5 day RSI is oversold. even if it heads lower I think it downside is limited at the moment.
lets see if miners can put in a swing low in the next day or two. then it will be fun again

http://i.imgur.com/g3CLZIo.png

[SilverRex]

also I have been watching euro/usd. it looks as though euro is about to snap back up. so a weaker USD should at least help support gold prices..

[ercchry]

Finally sold tbe yesterday, put what I had left of it into nflx calls.... So, goooo Netflix! Climb! Recover that damn tbe loss :rofl:

[SilverRex]

looks like miners bounced off the rising channel as well as backtested the previous trendline breakout. the double support certainly created alot of buying.

will now see if this is a fake rally or could potentially turn into something

http://i.imgur.com/tWIv4M2.png

[SilverRex]

while it will be nice and a very bullish sign to see if miners can stage a further rally with gdx back above 29 today. that will be very frustrating for shorts as well as those who panic and sold.

however until gold bottoms and fully reverses, there is still downside risk with gdx's next important support at 27.7 which I hear many investors are targeting and waiting for entry.

with the FOMC next week. gold may not have a direction or may not bottom until then. so keep your powers dry.

:zzz:

[SilverRex]

is it time to get excited with oil? last time it was a false breakout. let see if this one is the real one.

the biggest confirmation is when oil breaks and sustain above 48.25. However the breakout today could potential put away the low at 44.5

http://i.imgur.com/RFndK2G.png

[riander5]

Originally posted by bball2


Haha no kidding, I first got into GoPro at around $75 and held it till it hit $20. Fortunately since then all my GoPro plays have been shorts and have come out to about even :P

We should have played the ups and downs.

QUestion is now do we get some calls for the next week or two before earnings which im guessing may get it out of this channel?


https://s32.postimg.org/tatztksqt/Capture.jpg

[bball2]

Originally posted by riander5


We should have played the ups and downs.

QUestion is now do we get some calls for the next week or two before earnings which im guessing may get it out of this channel?


https://s32.postimg.org/tatztksqt/Capture.jpg

Yeah definitely should've played it differently, but didn't really do any active management back in the day, just buy and hold :P

I'm not very optimistic about Gopro at all going into the earnings report. I think they're going to tank much further and need something new, or some big positive news before the momentum starts going the other way. And right now their growth is stalling, they haven't come out with anything new or innovate in a long time, they haven't been able to realize increased profit despite increased revenue, and Chinese manufactures are coming out with products at 1/2 the price with similar or even better performance (ie) the Xiaomi Yi 2).

[SilverRex]

so far miners have made 5 waves to a lower low yet gold remains above mornings low.

we will now see if miners can bottom first before gold does to give us a divergence.

if gold has bottomed this morning, then we may have a potential wave 2 correction ending right now and it should make a wave 3 move before the end of the day and as long as it can do this and stay above 1321, then it is likely gold has bottomed.

however until it does that, it is likely in a final micro 5 waves down lower. Unless it wants to punch above 1321 for a higher degree wave iv counter trend rally then begin the 5 wave down possible ending over night or by tomorrow.

http://i.imgur.com/4S3MdCz.png

[SilverRex]

so anyone scared with today's selloff in gold? wave 'c' are almost always the most scary. that is how the average investor gets shaken out.

technically from a EW point of view. as long as gdx does not break below 27.71, this is still viewed as a correction. otherwise a bearish count will come into play.

so far expecting a lower low in gold over night and rallying into the open.

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

[bball2]

@SilverRex, me holding NUGT right now :rofl:

http://i.imgur.com/c4jt321.png

But yeah, still optimistic about a reversal so I've been adding to my position today.

[SilverRex]

added one more tranche at 201 Jnug :nut:

[Vanish3d]

Originally posted by SilverRex
[B]so anyone scared with today's selloff in gold? wave 'c' are almost always the most scary. that is how the average investor gets shaken out.



yes I'm shitting my pants right with a sizable position JNUG at 280 ish
This better snap back or I am not going to be a happy camper.

[bspot]

Was driving all day with a screaming baby in the car. Managed to pop a very small trade off on my phone during a Tim Horton's stop to get a little bit of JNUG at 230, but I really hope the rally waits for me.

Tomorrow I'm planning on turning 100% of my miners into JNUG.

Was pleasantly surprised to see LABU up today. I bought again at 33.40 to see if we had just finished a wave 2 correction and it wasn't looking good. I thought I'd be stopped out by the time I got home.

[bspot]

side question: How much of your portfolio are you guys comfortable holding in leveraged ETFs? I'm wondering if I've gotten a bit crazy with it. Lots tied up in UWTI and LABU right now, and a bunch of JNUG to come.

[riander5]

Yea you are crazy ^ I have never held more than 25% in a leveraged etf

that being said the rest was in baytex.. not much better lol

[bspot]

I'm 38% leveraged before I load up JNUG tomorrow lol

UWTI was supposed to be a short hold. Oil has been so flat since mid June. UWTI will be gone when oil hits 50.

LABU... I don't even know what my plan is. Probably just trail a stop up.

JNUG I'll just copy SilverRex :rofl:

[bball2]

I'm at about 15% leveraged ETF's and 15% call / put options which I kind of combines leverage + time decay. Not too set in stone regarding allocation into leveraged ETF's but I try not to hold them more than a week.

Current portfolio breakdown is probably:

40% Canadian oil, 30% gold, 20% tech, 10% biotech / misc

Have sold off some tech / biotech this past week to go into gold.

[SilverRex]

Got my coffee, lets get down to work.

Yesterday was quite the day. just when everyone wishing to buy miners at a lower price, now that it feels like it is crashing, I bet most wish it was going up instead. If we have learned anything from how biotech moved this year. Buy at the very low and sell at the high seems to work like a charm.

Looking at gdx chart this morning. I have a couple of positives that goes well if you are long.

We got a very strong volume close which could be an early indication of a final exhaustion exchange between weak hands and strong buyers. RSI 5 day has finally hit oversold. Something that does not happen often in this 7 month rally and when it does it often tells us the correction is about to end.

So purely based on this, I have to admit, I am very much expecting a good bounce today if not tomorrow. Market sentiment in this sector is very bearish at the moment which is also good for a reversal.

however, for anyone who is over leveraged or exposed in this sector (which includes myself) it is extremely difficult to time the perfect bottom. So best approach has always been to scale in or average down over a period of time. (like how Warren Buffet does it by buying shares each month for a year instead of all in one single transaction)

From an EW (Elliot wave) point of view, most analyst is looking at the same count in this chart, and while gdx has not break below 27.71 to remain bullish. GDXJ has already over lapped its sub wave .i invalidating the count. So the next best count is a even more bullish 1-2, 1-2 count(the green) this still requires gdx to remain above 27 imo)

So the next few days and how the miners follow thru (if there is indeed a good bounce today) will be extremely important to the count and over all bullish structure.

As much as I wanted gdx to fully reverse course today and just stomp higher from here for the next 3 weeks (because past history says so from here until August) Which was another reason I did not have any problem holding a 100% invested portfolio for a bit longer.

I have to still expect the market can produce further decline. Market isnt going to just snap back completely just because I wanted it too. As someone once said, the market can stay irrational longer than one can stay solvent. The key is to be able to anticipate surprises.

So because GDXJ has broken it's wave .i support. It may potentially warn that GDX too may break below 27.71, next big support is 27. With a rising channel and 50 DMA just under it, it wont be a surprise if price wants to first rally then drop towards a lower low and create some sort of divergence. Back in late May GDXJ did this, even though GDX did not.

Try not to get overly committed. If I see a strong bounce this week I will sell the few position I picked up yesterday in anticipation that further drop is possible.

Gold over night did make a lower low as expected but did not quite test the 1308 level which was the original target. Some EW analyst also calling for 1290-1300 as well. So keeping this in mind, I have to find ways to not get spooked if price falls again.

gold has a lot of work to do if it wants to technically look bullish again in the short term. it will need to first break and sustain above 1331 follow by 1338. GDX it needs to re-capture above 29. So until these happen. Stay flexible and assume downside pressure remains.

lastly, if gdx drops and breaks below 25, then something is very wrong that could warn a bearish count towards 22 and lower. As much as I personally do not see this happening, one has to keep this at the back of his mind.

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

[Vanish3d]

^ looks like the bounce is happening, at least for now.
I'm still a long ways away from break even, let alone profits

[SilverRex]

^

if I were you I would find a way trade a small position for the swings. in case price moves sideways or produces a lower low.

[SilverRex]

so far the bounce has been quite mild for gold. It would be nice to at least see gold break above 1322 to get some momentum going.

[troyl]

Break up or break down.....

https://s32.postimg.org/9yg55pvt1/Meg.jpg (https://postimg.org/image/uvcdadttt/)image post (https://postimage.org/)

[SilverRex]

^ yup my bet is an upside breakout.

[SilverRex]

quick update on gold.

a bounce was much expected after being so heavily oversold. would like to see price at least reach for the down trend line and see if it produces a false breakout. If gold has bottomed, it needs to break the trendline and continue to trade above or sideways away from it.

As I was saying earlier, there is still risk with another wave down lower to create a divergence. so try not to get too excited just yet.

if gold moves 10-15 dollar higher, miners could backtest previous broken support which will turn into resistance with gdxj at around 47.5 and gdx slightly above 29. Those area could be a good swing trade exit in case market decides to move lower

http://i.imgur.com/vXS85NK.png

[SilverRex]

now this is the type of bounce I was expecting.

it will get extremely interesting of how gold ends the week.

if uptrend resume (higher high to come) we need gold to break above 1338 and close the week above it as well.

otherwise, as much as I am very bullish on gold. keep in mind failure to break above 1338 = chance for a double bottom or lower low

I will take some profit just in case.

[SilverRex]

right now it looks like gold is in a sub wave 3 off the bottom at 1310. wave 1 was 1323.

as long gold does not close below 1323 and silver under 19.50 I will continue to remain bullish

[bball2]

Good start for crude oil this morning, and now right back to below $45 :thumbsdow

[riander5]

Bad day for Netflix too

[bball2]

@riander5, did you go buy into GPRO at all? Up 5% today and my options are pretty much back to even. Still pessimistic about the earnings report but good play if you went LONG on them yesterday.

[SilverRex]

scaling down my Jnug 50% (just in case it drops for another low)

so far gold looking good. first big test is trying to breakout from the down trendline without being pushed back down.

biggest confirmation is to take out 1338 to seal the low at 1310

but i am still going to reduce my leveraged exposure and have cash on the sideline just in case it does the unthinkable... a full reverse back down or even a lower low.

I have to learn not be too greedy.
;)


http://i.imgur.com/e5bcjc2.png

[riander5]

Originally posted by bball2
@riander5, did you go buy into GPRO at all? Up 5% today and my options are pretty much back to even. Still pessimistic about the earnings report but good play if you went LONG on them yesterday.

No as usual i dont listen to my own good advice and do other things which lose me money aka nflx calls haha

[SilverRex]

so gold was unable to remain above the down trendline and was not able to take out 1338 which I think is needed to seal the bottom at 1310.

unless it can aggressively move up this morning. the risk remains with one more lower low.

it is hard to tell where she may land considering there is plenty of support in various areas starting

38% fib level at 1308
previous wave low at 1305
50 DMA at 1301
50% fib level at 1287

With the FOMC next week. it is also possible gold could range bound until announcement.

if indeed a lower low drop, watch for the 5 day RSI on the daily chart to get even more oversold into the 20 or below.

silver chart looks a bit better at the moment still holding above 19.50, but gold is flirting with 1323 in the last couple of hours which is not encouraging.

http://i.imgur.com/nVW6bTE.png

[SilverRex]

lets look at oil this morning. it Definitely feels like oil is in it's final leg down. the bearish wedge finally produced a lower low breakdown. while it isnt powerful...yet. one could argue a mild ending following by an upside surge or we may only be in a final sub 1 of 5 that would point to a quick drop to 42 oil to end the correction.

a little bit more patience and we will soon know.

breakout confirmation requires (has always been) oil's inability to sustain above 46.10, and to seal the bottom by taking out 48 at this juncture.

http://i.imgur.com/Hl82CJQ.png

[SilverRex]

I wanted to bring your attention to kinross. its one of my 30% holdings.

as you can see, a beautiful cup and handle pattern has been forming. a breakout could mean a 30% rally from the peak. Its only one stock, I cant say this is a sign that miners do have a higher high coming. Patterns are only 60% accurate. But I will take that chance over a bearish pattern any day.

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

[Vanish3d]

call me crazy but I sold all my JNUG shares at a loss and dropped them into JDST with stops at today's high. No point in chasing, might as well go with the trend of the daily market

[SilverRex]

Originally posted by Vanish3d
call me crazy but I sold all my JNUG shares at a loss and dropped them into JDST with stops at today's high. No point in chasing, might as well go with the trend of the daily market

grads on picking the right side of the trade. experience tells me sitting tight often yields more profit than trying to swing trade. Not saying it doesnt work, but gold is in a bull market so you have to be careful. since your running full exposure on 3x leveraged play, thats a completely different beast :nut:

[SilverRex]

caution if your shorting miners.without stops

gdx looks like a reverse H&S setup. if gold suddenly reverses fully it could set off a wave 3 advance in the miners. miners were under performing yesterday and could explain the delayed action, but it is looking like it is trying to do the same thing gold/silver did yesterday

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

[Vanish3d]

Originally posted by SilverRex


grads on picking the right side of the trade. experience tells me sitting tight often yields more profit than trying to swing trade. Not saying it doesnt work, but gold is in a bull market so you have to be careful. since your running full exposure on 3x leveraged play, thats a completely different beast :nut:

I'm keeping tight stops and will get out by end of day regardless of outcome. As soon I'm up 5% I'll just do trailing stops up and cash out.

[bspot]

Dumped all my UWTI for a loss this week, but starting to scale in here. Am I nuts?

[SilverRex]

Originally posted by bspot
Dumped all my UWTI for a loss this week, but starting to scale in here. Am I nuts?

i want to see 42 oil. and re-buy a few energy shares for medium term hold.

[bspot]

Originally posted by SilverRex


i want to see 42 oil. and re-buy a few energy shares for medium term hold.

For kicks, I'm going to call the bottom for the next couple months at 42.95.

Unless things get seriously real, then $38.40, but I just don't see that happening.


I'll try remember to come back and quote how wrong I was in a few weeks.

[KappaSigma]

Rolled the dice again. Put in what i thought was a stink hid at 6.81 baytex and was just filled.

[SilverRex]

so far gold is trying to reclose back above the trendline.

if gold can somehow find a way to break the top side of the channel (green circle) this would be an immense bullish signal. a false breakdown follow by breaking the trendline of the opposite side.

until then, gold remains bearish imo

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

[KappaSigma]

Originally posted by KappaSigma
Rolled the dice again. Put in what i thought was a stink hid at 6.81 baytex and was just filled.

Dumped all by shares. 490 gain.

[Cooked Rice]

Originally posted by bspot
Dumped all my UWTI for a loss this week, but starting to scale in here. Am I nuts?

Holding onto mine over the weekend. Hoping to at least break even Monday, if not, I may dump them at a loss too.