Official Short-term Investments Thread

[SilverRex]

Originally posted by SilverRex
this is the current expectation for myself we could get a false breakout to trap bulls only to see price pull back in a wave 2 heading into and on election day, then pop

http://i.imgur.com/H5M0Uwp.png

as I was saying yesterday. look for a false breakout near 26, then I am expecting a wave 2 pull back of 50-60% retracement back down to the 23.5-24.5 area

so far so good.

update. with the gap filled near 24.55 during this sell off, bought back a small play in ag/jung. will add further position the lower it goes from here on out

[degeneratetrader]

i have one position of jnug i'm bagholding until post election.

bought MCK last week when it dropped 25% due to missed target in ER, nice and steady climb back up this week.

[SilverRex]

some of my key holdings

Kinross posts Q3 adj. earnings $0.10 per share thats a good surprise

Great panther Q3 earnings .01 a share.

[SilverRex]

looking at gold, the big picture, it remains in a perfect rising channel. this rising trendline will be broken during the next intermediate cycle decline many months away and the upper channel will give us an idea where gold will top as it has now opened up the 1500 level.

http://i.imgur.com/mX4mW58.png

[SilverRex]

I mention the 1300-1305 resistance and do not believe price can break this area one first attempt. surely a text book reversal in this area.

when price re-closes back above 1295, then we know for certain this is a correction.

gold has backtesting the leading diagonal upper trendline breakout on Nov 1st.

it is possible if gold is bullish to turn around here. but if it does not, next key support would be the 200EMA near 1280. at this moment 1275 should provide a very solid support.

I have already bought back a few position in this sector late yesterday. Will continue to buy on dips

http://i.imgur.com/6zcOjs0.png

[SilverRex]

just wanted to add in this bearish view on gold. right now the main EW community is looking at the possibility that gold is still in a deep wave iv retracement with one more wave lower under 1240 (possibly 1210 target) as they are suspecting gold is in a final wave C ending diagonal pattern.

my own personally believe is that I think gold has bottomed on Oct 7. However, I can also be wrong. so we just have to see how price moves in the next couple of days.

in order to invalidate this alternative bearish view, gold must make a higher high above 1310? otherwise while I am leaning towards a bullish stance now, if gold closes below 1275, that will be a warning sign, and even more so under 1260, then I might light up my position

http://i.imgur.com/N0QdMgx.png

[Vanish3d]

Taking a break on gold for a bit to see where it goes.
got into UGAZ under 26. Let's see where that goes!

[bjstare]

Miners seem to be strong, despite gold opening pretty far down today.

[SilverRex]

miners is showing a bit of weakness, gold made a higher high yet miners couldnt. if gold cannot close above 1300, miners will be ready to take another strong hit to the downside

[Disoblige]

Anyone eyeing an entry into LABU soon? It's in the $25s, but with elections looming, it may be risky as a Hillary win may push it further down. By then after the dust settles, may be a decent entry point.

I can't believe LABD hit $30s again! Patience is rewarded.

[SilverRex]

Originally posted by Disoblige
Anyone eyeing an entry into LABU soon? It's in the $25s, but with elections looming, it may be risky as a Hillary win may push it further down. By then after the dust settles, may be a decent entry point.

I can't believe LABD hit $30s again! Patience is rewarded.

I have a small position solely based on the fact that it has corrected enough, but I agree, the election could put a wrench into things. I am watching it closely, if for what ever reason it drops another 5% in the sector (15% Labu) I will add another position

[94CoRd]

So what is the general thought towards the bio's?

Hillary Wins - LABU down, LABD Up
Trump Wins - LABU up, LABD Down

[SilverRex]

Originally posted by 94CoRd
So what is the general thought towards the bio's?

Hillary Wins - LABU down, LABD Up
Trump Wins - LABU up, LABD Down

Hillary Wins - gold up
Trump Wins - gold up

[bspot]

I went long LABD a couple weeks ago at $23, thinking i was probably too late to the party.

Wow.

I'm trailing a stop pretty far behind it to give it room to run, but it's pretty hard to resist the urge to take some profits here.

Who knows, if XBI really really wants to test $50, lots of room yet.

There is going to be another major, major opportunity to go long on bios soon.

[SilverRex]

taking my profit on Jnug, not liking what I am seeing, miners are weak. going to wait for a bigger pullback

[degeneratetrader]

Originally posted by Vanish3d
Taking a break on gold for a bit to see where it goes.
got into UGAZ under 26. Let's see where that goes!

UGAZ has been consistently declining. i'm too scared to get back in

[SilverRex]

Originally posted by degeneratetrader


UGAZ has been consistently declining. i'm too scared to get back in

i think he likes trading short term swings.

over all I am waiting for natgas to come down to 2.3-2.5, the 2.7 is giving a bit of a bounce lately, but the bounce looks pretty weak

[Disoblige]

Kinda bummed I got out of DWTI at $74.50 as fundamentally I did believe strongly OPEC is BS. But it's hard when profit is on the table, so yeah. Could have been up huge if I stuck to my guns. Ah well...

[degeneratetrader]

are you guys trading on TFSA accounts? i can't imagine the profits being worth while if you're getting eaten by FX each time?

[ickyflex]

Getting shit kicked from Alaris... pos

[Vanish3d]

Originally posted by SilverRex


i think he likes trading short term swings.

over all I am waiting for natgas to come down to 2.3-2.5, the 2.7 is giving a bit of a bounce lately, but the bounce looks pretty weak

Yup, most of these impulse moves are daily trades only.
in at 26, got out at 26.7. Now I'm watching everything to pick a direction

but man oh man am i ever kicking myself for selling DGAZ at 4.4... could've doubled in a week or so

[degeneratetrader]

Originally posted by Vanish3d


Yup, most of these impulse moves are daily trades only.
in at 26, got out at 26.7. Now I'm watching everything to pick a direction

but man oh man am i ever kicking myself for selling DGAZ at 4.4... could've doubled in a week or so

must be some high volume then if you're making worthwhile profit off $0.07/share lol

[troyl]

Originally posted by degeneratetrader
are you guys trading on TFSA accounts? i can't imagine the profits being worth while if you're getting eaten by FX each time?

FYI: You are able to have a US$ side to TFSA accounts. I assume most of these gun slingers use Cash accounts/RRSP for big trades.

[bspot]

Originally posted by degeneratetrader
are you guys trading on TFSA accounts? i can't imagine the profits being worth while if you're getting eaten by FX each time?

I just started actively trading this year, and set a mental note to look into a USD TFSA if I kept up with it.

I forgot.

Ran the numbers, 18% of my returns were eaten by FX.

I hate myself.

Up 20% since the start, could have been 30 some. That hurts. Wasted bull market lol.

[Disoblige]

I only use my TFSA account for US stock trades (so far), so I don't get nailed by FX. Actually, it worked out since USD is worth more than when I did my initial transfers, so it looks good CAD wise :D

[degeneratetrader]

Originally posted by bspot


I just started actively trading this year, and set a mental note to look into a USD TFSA if I kept up with it.

I forgot.

Ran the numbers, 18% of my returns were eaten by FX.

I hate myself.

Up 20% since the start, could have been 30 some. That hurts. Wasted bull market lol.

yeah i didn't even know you could have a USD for TFSA. I just set one up. FX has been making me bite the pillow dry.

[ercchry]

My tfsa with questrade just leaves funds in whichever currency you sold in, if you run out of funds on either side then it automatically converts it

[bspot]

Originally posted by ercchry
My tfsa with questrade just leaves funds in whichever currency you sold in, if you run out of funds on either side then it automatically converts it

That alone makes me want to switch.

[bspot]

Every time I get itchy to get out of LABD and take the money and run, there is another breakdown in XBI. Just a blood bath. Feels good to be on the right side of a bloodbath for once.

Holding CEMP pretty big. Tomorrow could be the next bloodbath I'm on the wrong side of as it goes to AdCom :rofl:

[sabad66]

Originally posted by bspot


That alone makes me want to switch.
pretty sure BMO investorline does this as well

[94CoRd]

Originally posted by sabad66

pretty sure BMO investorline does this as well

Can confirm it does.

[degeneratetrader]

i've been making life difficult and using TOS to trade US securities and regular TD to trade Canadian

[SilverRex]

gold did dropped over night. however it has since reversed back and now the hourly chart shows a classic reverse head and shoulder pattern. if it can break and close above the neckline, it will target the 1320s which happens to be the previous multi month neckline that was broken (and resulted in the gold crash down to 1240)

today's employment report should cause some fireworks. so get ready to either take profit if gold shoots upward to the 1310-1320 or failure to breakout and or false breakout follow by reclosing under 1295 would warn that gold is ready to retest lower initially down to the 1275 area.

http://i.imgur.com/iTut1lQ.png

[SilverRex]

payroll below estimate and rate remains at 4.9%

after an initial false breakout retest 1305, it dropped straight to 1295. now it is attempting to try another breakout. so now we sit and see which way it will want to break first would be a pretty good indication of direction for the rest of the day

[bjstare]

Originally posted by degeneratetrader
i've been making life difficult and using TOS to trade US securities and regular TD to trade Canadian

TD can split into USD and CAD trading accounts.

My TFSA with them is two accounts, one in USD and one in CAD. I can exchange at my leisure, and don't get dinged FX fees with every trade. All it took was a 5 min phone call to ask them to split it.

edit: fiddlesticks, I was hoping to see LABU drop a couple bucks more before it popped. Looks like I might be missing a bit of a move now.

[SilverRex]

biotech is making a comeback due to the extreme oversold yesterday, could be a powerful reversal if it can take out yesterday's high

[Disoblige]

Will oil go under $40 before OPEC meeting? Saudi Arabia threatened to increase output and they're supposed to be the main contributors to the supposed "cut".

Congrats to anyone who played DWTI from 50s, 60s, and even 70s. :thumbsup:
With how things are going, I definitely see it going into 90s, but will it break $100 again?

Very interesting times with this and elections around the corner.

[SilverRex]

despite gold with a slight upward bias and still trading at the top of the range, i do not like the action in the miners and feels like any big drop in gold will magnify the sell off. so I am doing nothing today.

[Mostwanted]

Originally posted by cjblair


TD can split into USD and CAD trading accounts.

My TFSA with them is two accounts, one in USD and one in CAD. I can exchange at my leisure, and don't get dinged FX fees with every trade. All it took was a 5 min phone call to ask them to split it.

edit: fiddlesticks, I was hoping to see LABU drop a couple bucks more before it popped. Looks like I might be missing a bit of a move now.

I thought TOS, I want to get into trading, just dont know which platform to use, i currently have all my money on a TD TFSA < 20,000$. for the guys that us TD or TOS how hard is it to initially set up?

[SilverRex]

despite oil's continue weakness, energy shares are relatively strong. I have one small position in both Meg and Bte. will continue to hold. if they both drop another 10-15% will double up my position.

in the medium term, from a technical EW stand point plenty of stocks are setting up for a wave 3 breakout move to the upside, the election will either ignite this rally or force a panic low before reversing fully to the upside.

if this is true, I do not think oil will stay weak as it will get dragged back up with the stock market.

[bjstare]

Originally posted by Mostwanted


I thought TOS, I want to get into trading, just dont know which platform to use, i currently have all my money on a TD TFSA &lt; 20,000$. for the guys that us TD or TOS how hard is it to initially set up?

It will probably take you 5-10 mins total to phone TD and tell them you want to use your TFSA as a direct investing account. I would advise that during this call, you get them to split it into USD and CAD trading accounts. You should be good to go then!

[Vanish3d]

Originally posted by SilverRex
despite gold with a slight upward bias and still trading at the top of the range, i do not like the action in the miners and feels like any big drop in gold will magnify the sell off. so I am doing nothing today.

music to my ears with JDST at 24

Looking for the gap to fill around GDXJ at 40.7

[bspot]

Bio looks to be back-testing a long term trend line. A break back above, and I'll consider LABU time. For now, still holding LABD, getting closer to my stop however.

Excuse the messy chart. Needs a cleanup.

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_84eecf8598de30cd72368435a21c15c7.png

[bspot]

I think I'm going to hate being long CEMP Monday. This hearing has been a roller coaster ride.

7-6 vote in favor of approval. Holy hell, at least disaster is averted. That was close.

[degeneratetrader]

Originally posted by Mostwanted


I thought TOS, I want to get into trading, just dont know which platform to use, i currently have all my money on a TD TFSA &lt; 20,000$. for the guys that us TD or TOS how hard is it to initially set up?

doesn't take long. depends what you're wanting to trade, anything other than stocks you'd probably have to go into a branch to talk to someone. when i set mine up i had to go into the actual branch and all it took was a quick 10 min interview about my general knowledge on the market. after that it takes a few business days to get you going.

i really like questtrade for the user friendly OS. plus last time i checked they offered super low trading fees as well.

now i just use TOS just because of how powerful the platform is. i'm sure you could use questtrade to that degree too but i haven't engaged in it much after using TOS.

goodluck! :thumbsup:

[SilverRex]

despite election polls, news constantly affecting gold price of late. it still works right into the technical picture.

after gold hitting 1300-1305, it was expected this is a very difficult resistance to overcome, so even in a bullish scenario, price had to correct. and so far so good. with gold breaking or closing below 1295, it has opened the possibility of testing 1275. the two key support today is 1282 and 1275. I will be looking for a chance to re-open 1 Jnug position

I had also added a 2nd position in biotech in the low 25s last week. looks like a good decision after seeing it being so extremely oversold.

will look for an exit today before the election. Probably not going to risk any non-metal position just in case Trump wins and causes a panic stock market sell off.

the EW community is still calling a chance to see lower lows (gdx under 22.5) while personally I do not think gold will make a new low, but I will still trade in anticipation and preparing for further lows just in case the market decides to surprise everyone due to the uncertainty of the election period.

I think regardless of who wins the election, gold will still go up, just one will move more aggressively then the other. while Clinton may force a panic sell off in gold before resuming higher as an example. whereas Trump will cause a flash crash in the US dollar similar in pattern to the Brexit but not in scale.

I think if the race is this close, it could be a 2000 repeat and there will be a lot of controversy and so I think there is a high probability no matter which direction the market moves, it could completely swing back the other way. Volatility will be the winner, so take your profit if you see it.

[SilverRex]

Originally posted by Vanish3d


music to my ears with JDST at 24

Looking for the gap to fill around GDXJ at 40.7

looks like your getting your target this morning

[SilverRex]

sold my 28s labu position to break even and keeping my 25s position to see if this bounce has more legs.

also picked back up a small jnug position

[SilverRex]

biotech looks like it only has 2 waves off the low, will see if it can make a 3rd wave and get ibb close to 270 before I sell my labu position

[Vanish3d]

Originally posted by SilverRex


looks like your getting your target this morning

yup, got out way higher than my target :). Out at 28.2

just got out of LABU too. I'm not gonna be greedy

[Disoblige]

Keeping cash on sidelines for a bullish miner entry soon into JNUG. Will be looking at one position in the mid-10s, and will keep adding if it dips lower as it heads into tomorrow and Wednesday.

[bspot]

FML, was playing a scalp on something, put in a tight stop.

Didn't notice my stop order was rejected "Contact Route for further explanation"

Price proceeded to move down 10% :banghead: :banghead: :banghead:

[Vanish3d]

I've cashed out every position I have in my day trading account.
Feels good being out with full ammo.

I think I'm going to focus on JNUG and UGAZ and LABU for the next couple of weeks, after we get this election drama out of the way and the market picks a direction

[bjstare]

I'm looking at a small LABU position today.

Anyone looking at UGAZ?? Down 17% on the day right now.

[SilverRex]

Originally posted by cjblair
I'm looking at a small LABU position today.

Anyone looking at UGAZ?? Down 17% on the day right now.

could bounce based upon the oversold condition, but personally I am waiting for the low 2.5s and 2.3s before committing again.

[degeneratetrader]

Originally posted by Vanish3d
I've cashed out every position I have in my day trading account.
Feels good being out with full ammo.

I think I'm going to focus on JNUG and UGAZ and LABU for the next couple of weeks, after we get this election drama out of the way and the market picks a direction

i might piggy back with you after i close some of my call positions

[SilverRex]

biotech looks like wave 4 is done going after wave 5 that should break yesterday's high

[bjstare]

^That would be nice.

I put in an order right after my post, lucked out and got in before the pop.

[Vanish3d]

Originally posted by SilverRex
biotech looks like wave 4 is done going after wave 5 that should break yesterday's high

I got in LABU this morning at 29.5. working well so far. I'm looking to get out soon though.

Thank god I did not open the large position in UGAZ yesterday. Sitting on the edge now itching to get in

[Vanish3d]

SilverRex,
where do you see today's top in LABU?

[SilverRex]

Originally posted by Vanish3d
SilverRex,
where do you see today's top in LABU?

I am selling my labu position bought 25.5 sold 31.7, happy with the profit.

looking at the waves, it has completed 5 waves up, cant rule out there could still be one more smaller wave to a higher high but I am not taking any chances. unless one believes Hillary will win and there will no surprises at all for the election results, then it could extend and keep marching higher.

personally I do not think it is that simple and any news of a Trump lead thru out the day would turn things around 180 degree. I want to buy back and see ibb fill the gap back in the low 250s or high 240s.

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

[Vanish3d]

my stop got filled at 31.5. I'm quite happy with that.
Just tried my luck with UGAZ at 22.3.

[degeneratetrader]

ugaz seems pretty stagnant today

[degeneratetrader]

bought JDST at 28.17 and holding overnight to sell in the morning...time to gamble

[Vanish3d]

Originally posted by degeneratetrader
bought JDST at 28.17 and holding overnight to sell in the morning...time to gamble

What scenario would result in a gap up?
Hillary win is already priced in. If she wins it probably wont move too much lower.

if you want to gamble buy JNUG and hope Trump pulls a rabbit out of the hat and wins, then gold will gap up

[degeneratetrader]

Originally posted by Vanish3d


What scenario would result in a gap up?
Hillary win is already priced in. If she wins it probably wont move too much lower.

if you want to gamble buy JNUG and hope Trump pulls a rabbit out of the hat and wins, then gold will gap up

banking on Hillary win, even if it's priced in there's always a chance it gets overbought on news - i could be completely out to lunch on this logic.

[Mostwanted]

Originally posted by cjblair


It will probably take you 5-10 mins total to phone TD and tell them you want to use your TFSA as a direct investing account. I would advise that during this call, you get them to split it into USD and CAD trading accounts. You should be good to go then!

Thanks for the repy! re-read what i said, i meant to say i thought TOS wasnt available for Canadians yet. Now that you mentioned that i should split it to 2 different accounts (USD & CND) i thought TOS also converts it automatically depending on what trades you do? Ill be contacting my TD rep too see what other info and see other video resources online to teach me how to use TOS.

If only there was a mentorship program it would be soo much easier to start LOL

[degeneratetrader]

Originally posted by Mostwanted


Thanks for the repy! re-read what i said, i meant to say i thought TOS wasnt available for Canadians yet. Now that you mentioned that i should split it to 2 different accounts (USD &amp; CND) i thought TOS also converts it automatically depending on what trades you do? Ill be contacting my TD rep too see what other info and see other video resources online to teach me how to use TOS.

If only there was a mentorship program it would be soo much easier to start LOL

TOS is only for american securities

[bjstare]

Originally posted by Mostwanted


Thanks for the repy! re-read what i said, i meant to say i thought TOS wasnt available for Canadians yet. Now that you mentioned that i should split it to 2 different accounts (USD &amp; CND) i thought TOS also converts it automatically depending on what trades you do? Ill be contacting my TD rep too see what other info and see other video resources online to teach me how to use TOS.

If only there was a mentorship program it would be soo much easier to start LOL

The whole point of splitting it into two different accounts (CAD and USD) is to avoid the auto conversion on each trade, so you don't get hosed on FX fees every trade... you only get hosed when you transfer between accounts.

[riander5]

did anyone dab(ble) ((hehehe)) in any weed stocks? I bought in hoping all the recreational votes go through and hype gives them a bump.

Go weed go

[Mostwanted]

Originally posted by cjblair


The whole point of splitting it into two different accounts (CAD and USD) is to avoid the auto conversion on each trade, so you don't get hosed on FX fees every trade... you only get hosed when you transfer between accounts.

Oh ok starting to make a bit more sense now, im assuming your doing the same? for your CAD account do you have a software you use? Just confused of the whole process of opening up accounts.

Lets say i have 16gs in my TFSA right now, and i wanted to trade Canadian and US stocks. I meet up with my TD rep and ask them to split it into 2 accounts maybe 6000 US and the rest Canadian accounts, then do i use a certain TD software to trade US and CND?

Thanks for the replies guys

[sabad66]

Originally posted by Mostwanted


Oh ok starting to make a bit more sense now, im assuming your doing the same? for your CAD account do you have a software you use? Just confused of the whole process of opening up accounts.

Lets say i have 16gs in my TFSA right now, and i wanted to trade Canadian and US stocks. I meet up with my TD rep and ask them to split it into 2 accounts maybe 6000 US and the rest Canadian accounts, then do i use a certain TD software to trade US and CND?

Thanks for the replies guys
If it's anything like BMO Investorline, your TFSA should have two "accounts" already built in - 1 for USD and one for CAD

When you transfer money in it should go into your CAD account and then you can exchange back to the USD account by yourself using their online web interface. No need to meet up with a TD rep.

[bjstare]

It's all on TD's website. When you open a direct investing TFSA, you log onto TD webbroker (it's like easyweb, but for trading) and you can do everything from there. You can transfer funds into your TFSA from easyweb, and between TFSAs on webbroker. All trades go through webbroker.

It's super simple, just get them to get you started in direct investing, you will figure it out in no time. It's not like it costs you anything to open them.

[SilverRex]

gold up 45 dollars so far, DOW future down 700 pts...

lucky i sold biotech knowing there is more downside then up if Trump pulls out a rabiit.

[bball2]

Gold up huge right now! Might be an even bigger rise if Trump wins :eek:

[bjstare]

I'm glad I only took a small labu position. I'll probably unload that for JNUG tmw.

Very happy about my holding a bunch of YRI though.

[littledan]

fuck missed the boat again. brexit was 50/50... buy options and make a killing. this election was 50/50... argh could have bought options and made a killing!

[bjstare]

Hm. Both gold and biotech up right now.

Rock on.

[Vanish3d]

I listened to my own advise and opened a position in Jung at close yesterday. That's looking very pretty this morning.

However I also opened a small position (half size of Jung) with labd. Looks like labd will eat away some of my Jnug winnings !

[SilverRex]

Originally posted by Vanish3d
I listened to my own advise and opened a position in Jung at close yesterday. That's looking very pretty this morning.

However I also opened a small position (half size of Jung) with labd. Looks like labd will eat away some of my Jnug winnings !

im surprised how strong the market recovered overnight. also Trump was good for biotech

maybe the market isnt going to give a great opportunity as most thought, but who knows, this could still change when market resumes.

all I know is that majority of stocks are having technical setups with wave 3 next so any dip is a great buying opportunity.

maybe this is when biotech finally mirrors the miners back in January when it just will not correct and continues to march higher every day for months....

[SilverRex]

well if the stock market begins to make strongly upwards due to the fact that election is over and more of a relief rally more than a wild president, then it will drag oil back up as well. I am now seeing strong positive divergence for oil on the hourly, as long as it does not make new lows, I think energy should regain upward bias perhaps after an initial drop to open the market this morning.

[Vanish3d]

If i remember Brexit correctly, gold opened way higher then began dropping immediately. So I think best play is to unload miners at open, then wait for a ~10 drop in JNUG then buy back in.
For LABD I'll just wait for a ~10 drop then unload it and switch to LABU.

Let's see if this strategy plays out.

[SilverRex]

Originally posted by SilverRex
this is the current expectation for myself we could get a false breakout to trap bulls only to see price pull back in a wave 2 heading into and on election day, then pop

http://i.imgur.com/H5M0Uwp.png

looking back at the setup, so does technical analysis really work? the news has certainly played right into this outlook beautifully. it is hard to argue everything was already all factored into price and miners looks ready for a sub wave 3 breakout this morning

also biotech while I had underestimated the pop this morning, the 5 wave bottom based on the charting also foretold it had to reverse. (biotech corrected 61% when it landed below 250)

sadly, technical analysis only works 60% of the time, but when it does it sure is a great feeling.

[bjstare]

Well I'm out of LABU. Great return overnight haha.

Will buy back on a dip.

[SilverRex]

natgas is very close to my magic number 2.5, if it can dip slightly under I will pick up a small play for short term

[bjstare]

Decided to buy JNUG on a dip instead, since LABU wasn't giving much up. Got in at 11.82. Lucky break.

edit: out at 12.41. Why isn't it this easy all the time :rolleyes:

[Vanish3d]

Originally posted by SilverRex
natgas is very close to my magic number 2.5, if it can dip slightly under I will pick up a small play for short term

I got stopped out yesterday and just got in. I'm hoping it's close enough to the 2.5 and will go up from here.

[Vanish3d]

UGAZ from 19.9 to 23.9 and just got out.

If only I can get it this right every time lol

[bjstare]

^I was thinking about UGAZ in the 19s as well but didn't pull the trigger. I've been scalping miners instead. Great job though!

[bspot]

Was anyone holding big on LABU?

I was holding LABD yesterday as a hedge against my giant CEMP position.

Didn't like the fade, so sold it for a small profit and proceeded to watch it go red and felt good.

After Trump and seeing futures last night I was worried I'd regret selling it, but holy hell.

Having sold it feels like I gained 30%

I can't imagine holding LABU today, must be quite the feeling.

CEMP was up almost 20% and my only other holdings were miners, so election roulette was won I guess.

[bjstare]

Originally posted by bspot
Was anyone holding big on LABU?

I was holding LABD yesterday as a hedge against my giant CEMP position.

Didn't like the fade, so sold it for a small profit and proceeded to watch it go red and felt good.

After Trump and seeing futures last night I was worried I'd regret selling it, but holy hell.

Having sold it feels like I gained 30%

I can't imagine holding LABU today, must be quite the feeling.

CEMP was up almost 20% and my only other holdings were miners, so election roulette was won I guess.

I sold my small LABU position shortly after open. Great 25% overnight. haha

[degeneratetrader]

Originally posted by Vanish3d
I listened to my own advise and opened a position in Jung at close yesterday. That's looking very pretty this morning.

However I also opened a small position (half size of Jung) with labd. Looks like labd will eat away some of my Jnug winnings !

such a coin flip. nice call. RIP jdst lol

[Vanish3d]

I sold my JNUG this morning at 12.5 and just jumped back in at 11.27.
I'm hoping for a repeat !

[SilverRex]

well gold has given back all the gains from the election result. This is not what I expect if the move was real. for miners if it breaks a lower low under 23.8 then technically something isnt right and could immediately open back up a test for 22.5 or better yet a new multi month low.

certainly the EW camp that has been calling for 19-20 gdx may still smile at the recent action.

gold/miner must begin to move back up now or risk the mention scenario.

while I am only holding a very small stake in Jnug, I may have to light up a few positions if the sector heads any lower.

[SilverRex]

I think many investor now actually believe Trump will help the economy (just the catalyst needed to push equities into a powerful rally in the coming weeks/months)

this change of heart from just a day ago where everyone thought the market will crash 10% has quickly been erased, hence gold no longer becomes a fear/risk trade and is sold off substantially.

with momentum on the stock market side, I am going to light up my gold portfolio (as well as Jnug) and will wait a few days to reassess the picture. Right now gold/miners are very confused, no clear counts and this is throwing everyone including myself off the rails.

if 1240 does not hold, next up will be 1200 or slightly below this, I will be waiting for opportunity rather than just based on hope.

[bspot]

^Earnings season is coming up for miners too, should be a ton of strong earnings reports. I could see miners diverging from gold a bit.

[SilverRex]

gold found some support over night around 1270 and over night marched into the low 1290s which shows Asia is very much buying on these dips. personally I think the key levels to watch will be 1275 and even more importantly 1268. I think if price were to close below these two numbers to end the week will be technically very bearish. (it is already quite bearish with the completely engulfing reversal candle yesterday)

I will give this the line in the sand, if miners dive some more this morning, I may jump back into a few position (with mental stops on the above level)

Cooper is finally breaking out, another stock I am paying attention now is FCX, it appears it has started the wave 3 currently in a sub 3 of 1 of major 3. if it pulls back I may jump in here as well.

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

[SilverRex]

havent posted on silver for awhile. one thing I am hesitant to write of gold just yet is that fact that silver continues to out perform gold of late. the GSR ratio is under 69 which means liquidity is alive and well. the pop in gold was mostly due to futures, if you look at the GLD fund, it did not have the same breakout as gold, in otherwords, there is a slight chance, the bearish reversal in gold and false breakout may not have substance.

if my assumption is correct, then looking at silver price to draw further ideas from, it appears it has hit 5 waves up (leg 1) and current correcting, a chance for one last drive under 18 before the real breakout.

http://i.imgur.com/WsBjz0B.png

[BavarianBeast]

Originally posted by BavarianBeast
Well, I've bet the farm on Ariad today.

I just could hold off from selling my complete stake in Suncor and putting it in Ariad. Fingers crossed :nut:

Boom! Timed that bottom quite well. Pretty stoked on the gains so far. Already contemplating supercars. :nut:
PS - Bird construction just got hammered on earnings. Easy to make some money on this one imo.

[bjstare]

I successfully picked the bottom with LABD today. Then, like an idiot, sold way early.

Then bought high and got stopped out. Went from being up 10% in a few minutes, to even in a few more minutes. :banghead: