Official Short-term Investments Thread

[bjstare]

looks like biotech may finally be breaking down, I'll probably look to get in tomorrow once LABD settles a bit (hopefully).

[bspot]

Originally posted by cjblair
looks like biotech may finally be breaking down, I'll probably look to get in tomorrow once LABD settles a bit (hopefully).

I got in today at $13.83. Seems low risk right now. XBI chart is riddled with gaps and lack of consolidation/pullback.

[SilverRex]

gold looking bearish this morning. unless it can recapture and stay above 1225 and especially 1228. this may be the final wave V down we are waiting for. gdx to 19.00-20.00

might as well get it over with. I have my limit order set

update: so far gold appears to want to breakout instead. false break down? again 1228 is the magic number for today

[SilverRex]

as you can see, gold is very indecisive of late. a breakout signal follow by a break down signal and repeating.

what this tells me is that buyers are starting to see value and beginning to cancel the selling pressure. so if there is another 20-30 dollar drop that would be a screaming buy imo. This is how under cut bottoms are formed and suddenly reverses fully...example look at CLF.

http://i.imgur.com/8eTHLby.png

[bjstare]

Weird day today. I've been in and out of a couple positions on the long and short side of things, everything just wants to stay flat today. I'm sure things will eventually break one way or another, but it's a little unsettling haha.

[SilverRex]

drys was up massively but now down 70%. anyone has any insight to what is going on? I wonder if there is any potential for a beer money trade here

[secol]

Originally posted by SilverRex
drys was up massively but now down 70%. anyone has any insight to what is going on? I wonder if there is any potential for a beer money trade here

https://www.benzinga.com/news/16/11/8712449/the-t-12-nasdaq-halt-when-stocks-get-called-to-the-principals-office

http://cnafinance.com/dryships-drys-stock-will-resume-trading-today/12194

sounds odd. but trade was halted, resumed. confidence shattered?

[SilverRex]

Originally posted by secol


https://www.benzinga.com/news/16/11/8712449/the-t-12-nasdaq-halt-when-stocks-get-called-to-the-principals-office

http://cnafinance.com/dryships-drys-stock-will-resume-trading-today/12194

sounds odd. but trade was halted, resumed. confidence shattered?

already up 25% since I posted it. was really pondering when price was under 22 for a brief moment.

for gold, appears it is still struggling to maintain any moment and continuously rejected by 1228 area, which this morning now starting to look corrective with more downside potential

[SilverRex]

gold is coiling, will just have to wait and see if the launch is to back test the break down at 1240 or to make new lows towards 1200

[SilverRex]

one thing I am noticing, despite gold looks weak and nearly retested the low at 1211 (now 1216) miners are holding up relatively well and no where near the low from monday. I take that as the bottom is closer than one thinks.

[SilverRex]

just thought I point this out. using GLD fund to represent gold price. normally on any given day gold price and miners both move together. back in August when gold price continues to make a lower high, miners on the other hand was making higher highs. this was a divergence, and since we all saw what happened. it was a trend change. after 3+ months of correction where gold price and miners practically moved in sync. we have (imo) another divergence. gold price technically tested the low (may have even broken by a penny) yet miners are well off it's low.

another divergence? time will tell when we look back to this day if this was 'the' signal

http://i.imgur.com/V3y0dZw.png

[Vanish3d]

Rode JDST from 35 to 40.40 and now I'm out.

Might consider picking up JNUG at close if gold keeps going down

[bspot]

Anyone trade UWTI/DWTI?

Delisted in December.

I've been trying to trade more CDN stuff, as I don't love the idea of holding a bunch of USD at all time highs.

The 2x leverage on HGU/HGD and HOU/HOD is so relaxing compared to 3x :rofl:

[SilverRex]

spotting positive divergence for gdx/gdxj in the closing minutes

[Disoblige]

Originally posted by bspot
Anyone trade UWTI/DWTI?

Delisted in December.

I've been trying to trade more CDN stuff, as I don't love the idea of holding a bunch of USD at all time highs.

The 2x leverage on HGU/HGD and HOU/HOD is so relaxing compared to 3x :rofl:
Yeah, been doing a couple DWTI trades over the past couple weeks. Just sold my last DWTI position few moments ago and likely won't be buying anymore due to the news.

Eyes on gold entry if we test 1211 again and possibly entry into IIPR on Tuesday (first ever MJ REIT on NYSE).

[bspot]

Holding LABD, HOU, HGU. All 3 green to start the day, all 3 red to close. Bah.

[SilverRex]

so gold headed lower over night and did not quite test 1200, (1202.7) is a case of close enough?

this morning it has regain most of the sell off and is currently sitting right at a down trendline from the 1337 top (since Trumps election night)

MACD is showing positive divergence which is a good first sign. if gold can breakout from this trendline, then it will create very good momentum to perhaps test the 1231-1232 area which had held price down. Only question is, has the bottom been struct? or are we still looking at a wave 3 of V down to the 1160-1180 area which is the next major support.

personally I want to see gold price backtest the 1240-1250 area.

http://i.imgur.com/8ochelb.png

[SilverRex]

right now gold looks like it has 5 waves up off the low. and so far price has been rejected by the down trendline.

if the bottom has been struct, gold price should be retracing 3 waves, wave 2 pattern that should not break below 1207. as long as 1207 holds, I am going to anticipated further upside.

http://i.imgur.com/xsb0ywM.png

[SilverRex]

dang drys went from 10-20 dollar. halted now. would have been a great beer money trade

[el_fefes]

^ I was just gonna ask... up 84% today. :nut:

[SilverRex]

gold down nearly 6 bucks but miners are even or slightly positive. thats what I like to see

[Vanish3d]

Originally posted by SilverRex
gold down nearly 6 bucks but miners are even or slightly positive. thats what I like to see

Ok, lets see it pop. I just bet the farm on it but my finger is not leaving the mouse nor my eyes the screen

EDIT: got stopped out and jumped back to JDST.

[bjstare]

Am I missing something? I'm seeing miners down and gold down. :dunno:

[Disoblige]

Originally posted by Vanish3d


Ok, lets see it pop. I just bet the farm on it but my finger is not leaving the mouse nor my eyes the screen

EDIT: got stopped out and jumped back to JDST.
How do you "bet the farm", yet still get into JDST and not worry about T+3? :P

[bjstare]

Originally posted by Disoblige

How do you "bet the farm", yet still get into JDST and not worry about T+3? :P

edit: nm. I see what you were saying. haha

[Disoblige]

Correct me if I'm missing something, but if he had all his funds invested and sold, purchased again, he would not be able to sell those funds until the 3rd trading day. So with JDST in mind, I would be extremely worried if I was stuck with JDST for 3 trading days.

Edit: It's best to check with your bank. RBC doesn't seem to worry about this and you can trade as much as you want as long as you have the available funds.

[SilverRex]

gold testing the all important 1207. if it closes below this, thats bearish imo

I added another position in fr.to and jnug. will hold them as long as gold remains above 1207

[bjstare]

Originally posted by Disoblige
Correct me if I'm missing something, but if he had all his funds invested and sold, purchased again, he would not be able to sell those funds until the 3rd trading day. So with JDST in mind, I would be extremely worried if I was stuck with JDST for 3 trading days.

Edit: Haha :thumbsup:

Just to be clear though, he doesn't have to wait for the funds to settle before making another trade with those "same" funds. He just has to make them in the right order, so each trade is covered by the time it settles... if that makes sense.

[SilverRex]

this is nuts, watching the 5m chart and every time gold dips below 1207 it manages to close back up for like 30minutes. if it closes below on the 5m I will be scaling down a few positions but so far is still holding up,

[Vanish3d]

Originally posted by cjblair


Just to be clear though, he doesn't have to wait for the funds to settle before making another trade with those "same" funds. He just has to make them in the right order, so each trade is covered by the time it settles... if that makes sense.

I have no idea what you guys are talking about.
I bought a bunch of JNUG then sold it shortly after for a small loss
then I bought a bunch of JDST and now holding till I either make 5% or lose some. either way, I'm gonna be out today

[bjstare]

Originally posted by SilverRex
this is nuts, watching the 5m chart and every time gold dips below 1207 it manages to close back up for like 30minutes. if it closes below on the 5m I will be scaling down a few positions but so far is still holding up,

Do you have access to realtime gold prices somewhere? Or are you just estimating gold price based on GDX chart (or some other fund)? I've only ever found gold prices with 15m delay.

[Vanish3d]

Originally posted by cjblair


Do you have access to realtime gold prices somewhere? Or are you just estimating gold price based on GDX chart (or some other fund)? I've only ever found gold prices with 15m delay.

my bank is live on GDX/GDXJ and so is investing.com and iinvesting.com is live gold

[bjstare]

Originally posted by Vanish3d


my bank is live on GDX/GDXJ and so is investing.com and iinvesting.com is live gold

Yeah so is mine. But I was referring to the actual commodity price, not the fund price.

[Disoblige]

Originally posted by cjblair


Just to be clear though, he doesn't have to wait for the funds to settle before making another trade with those "same" funds. He just has to make them in the right order, so each trade is covered by the time it settles... if that makes sense.
No absolutely, I understand that. But if he went all in as that's what betting the farm means, then that would be pretty risky because although you can purchase the funds, all his funds will need to settle in 3 trading days before he can actually sell. Meaning, he wouldn't be able to sell JDST until Wednesday.

But if he didn't bet all his funds and had settled funds, yes he can sell anytime with those settled funds. But then it makes no sense why he had to say he bet the farm :P

Edit: It's best to check with your bank. RBC doesn't seem to worry about this and you can trade as much as you want as long as you have the available funds.


Originally posted by cjblair


Yeah so is mine. But I was referring to the actual commodity price, not the fund price.
I use Investing.com
XAU/USD and Gold as my tickers.

[Vanish3d]

Originally posted by Disoblige

No absolutely, I understand that. But if he went all in as that's what betting the farm means, then that would be pretty risky because although you can purchase the funds, all his funds will need to settle in 3 trading days before he can actually sell. Meaning, he wouldn't be able to sell JDST until Wednesday.

'

my funds are available immediately. I only have to wait for settlement if I want to CASH OUT. I can trade all my funds on the spot

but I just got stopped out of JDST for a small profit.

[Disoblige]

Originally posted by Vanish3d
'

my funds are available immediately. I only have to wait for settlement if I want to CASH OUT. I can trade all my funds on the spot

but I just got stopped out of JDST for a small profit.
That's what I said in my post lol.. So you used unsettled funds to get stopped out and sold? Meaning you conducted a violation. Unless you didn't bet the farm and had settled funds already to purchase JDST.

[bjstare]

Originally posted by Disoblige

No absolutely, I understand that. But if he went all in as that's what betting the farm means, then that would be pretty risky because although you can purchase the funds, all his funds will need to settle in 3 trading days before he can actually sell. Meaning, he wouldn't be able to sell JDST until Wednesday.

But if he didn't bet all his funds and had settled funds, yes he can sell anytime with those settled funds.


I use Investing.com
XAU/USD and Gold, both live.

I think you might be confused. He can certainly sell JDST before then, as long as he didn't purchase more than he invested in JNUG (i.e. more than the farm). I'm positive you can buy and sell with unsettled funds, I do it regularly. For the sake of simplicity, he can buy and sell the farm 10x in a single day on 5 different stocks if he wants. It only gets hairy if he tries to make a buy that exceeds the value of the farm (i.e. money that isn't or won't be in the account and settled by T+3)

edit: that took me too long, you guys already had the convo haha.

He didn't conduct a violation unless he sold or bought more than he's capable of covering by the settlement date.

[SilverRex]

bullish count (if) gdx did bottom few days ago

http://i.imgur.com/vOaml1m.png

[Disoblige]

Originally posted by cjblair


I think you might be confused.
If I wasn't before, I certainly am now, haha.

[Vanish3d]

no idea what the confusion is about.
Anyways!

looks like miners might be gaining momentun. Flipped back to JNUG

I've been trading both JNUG and JDST like 5 times a day each lol

In at 6.75 and shooting for 7

[Disoblige]

Originally posted by Vanish3d
no idea what the confusion is about.
I just looked it up. The term I was talking about is freeriding. You sold something you bought with unsettled funds.


For example, suppose you have $20,000 in your cash account. You buy $15,000 of ABC stock on Monday. On Tuesday, you sell the ABC stock for $16,000 and buy shares of stock XYZ worth $14,000. That’s fine because you’ll be receiving on trade date plus three, or Friday, the $16,000 from the Tuesday sale of ABC stock. The proceeds are enough to pay on Friday for the Tuesday purchase of XYZ. However, you're free-riding if you sell the XYZ shares on Wednesday because you haven’t paid for them yet. Had you waited three days to sell the shares -- that is, on Friday, when the settled ABC proceeds post to your account -- you’d have avoided the violation.

Edit: It's best to check with your bank. RBC doesn't seem to worry about this and you can trade as much as you want as long as you have the available funds.

[bjstare]

Originally posted by Disoblige

If I wasn't before, I certainly am now, haha.

Me too. I did a little more research, and I have found evidence to support what you proposed (you can't sell holdings purchased with unsettled funds until those funds are settled), and what I proposed (you can buy and sell as many times and frequently as you want, as long as the transactions don't put you in a negative cash or equity position by T+3 for each respective trade).

I have a meeting with an adviser in a couple hours, I will bring it up and report back. :rofl:

edit: again took too long and you had posted already. So I guess vanished is freeriding left and right then? haha

[Disoblige]

Originally posted by cjblair

edit: again took too long and you had posted already. So I guess vanished is freeriding left and right then? haha
Yeah, I was trying to understand the situation and hopefully prevent his account from being locked out. I know a couple people who've done this and the bank put restrictions on their account so they cannot trade unless they have settled funds. Hopefully the example makes sense, I don't want to derail the thread any further (although it's not really derailing, as T+3 is a big thing to be aware of when doing day trades).

I'm still waiting for gold to test 1200, cash in hand.


Edit: It's best to check with your bank. RBC doesn't seem to worry about this and you can trade as much as you want as long as you have the available funds.

[Vanish3d]

hmm... I've been doing it for over 2 years so I don't think what I'm doing is in violation.
I pretty much day trade my whole portfolio daily (in my day trading account). I don't think I EVER waited to settle

[Disoblige]

Originally posted by Vanish3d
hmm... I've been doing it for over 2 years so I don't think what I'm doing is in violation.
I pretty much day trade my whole portfolio daily (in my day trading account). I don't think I EVER waited to settle
Wow! Seriously? What bank is this? If I could do this, I would be MAD rich right now. T+3 was always a buzzkill as it killed so many opportunities.

And yeah, if you're using a margin account, that's different. You're essentially borrowing money, in which case over the last 2 years you would have had quite a bit of margin interest charges whether you knew about it or not.


Edit: It's best to check with your bank. RBC doesn't seem to worry about this and you can trade as much as you want as long as you have the available funds.

[bjstare]

Originally posted by Vanish3d
hmm... I've been doing it for over 2 years so I don't think what I'm doing is in violation.
I pretty much day trade my whole portfolio daily (in my day trading account). I don't think I EVER waited to settle

Is it a margin account? If so, then what we're saying doesn't apply.. I'm pretty sure freeriding is only applicable to cash accounts. (as always, open to correction if I'm wrong).

Also, I don't think this is a derail, this is actually directly applicable to the topic of the thread :rofl:

edit: I never wait for T+3 either, but this is making me second guess bringing it up with my adviser today.

[Vanish3d]

no margin account. Straight Cash in a RBC Direct Investing account.

[ercchry]

If you guys primarily speculate... why not trade options? Better returns without having to "bet the farm" so more settled funds in account to make more smaller trades with for same returns.... and they settle in ONE day instead of three

[Disoblige]

Originally posted by Vanish3d
no margin account. Straight Cash in a RBC Direct Investing account.
Consider yourself really lucky then, lol. I'm surprised RBC hasn't flagged or suspended your account.


Edit: It's best to check with your bank. RBC doesn't seem to worry about this and you can trade as much as you want as long as you have the available funds.

[SilverRex]

its closing below 1207 again. not taking any chance, unloading all the position I added this morning and will wait this out to reassess. perhaps wait for a breakout before taking another stab..

ill be damned, 1207 became support again. and also now breaking a very nearby down trendline.

[troyl]

Originally posted by Disoblige

Consider yourself really lucky then, lol. I'm surprised RBC hasn't flagged or suspended your account.

His buy won't settle for T+3 days either.

[bspot]

Massive, massive bids on LABD today. Might be a runner soon.

[SilverRex]

miners would show alot of strength if it can close green today

[SilverRex]

gdx has some momentum going to start the week. has the bottom been struct? if so the green count will be my bet. if it channels in a 3-5 pts consolidation, then we may still have a lower low dead ahead.

doubled up my Jnug in the 33s last friday. will unload when it reaches pt C and will wait for confirmation to see which way/count it is headed.

http://i.imgur.com/lF1iidf.png

[SilverRex]

as for oil, last week after seeing 5 waves down, I suspected a bottom was in and sure enough oil is now lifted and currently back testing testing the critical previous trendline breakdown.

this is a key moment because if oil can reclose above this and remain above it, it would trigger a breakout wave 3 move on all energy shares.

if oil closes back below 46.50 then potentially we could still be looking at another 5 waves down to under 40.00

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

[SilverRex]

taking my profit on Jnug as gdxj appears to have completed 5 waves off the low since friday. will see if it comes back down to fill the gap under 35 and begin buying back once again.

if miners move higher from here, thats positive as well. gold needs to break above 1217.80 to produce a swing low this week which will bring in further technical buyers

[Disoblige]

Originally posted by troyl


His buy won't settle for T+3 days either.
Doesn't matter. You're buying new shares with proceeds from one stock sale that hasn't settled yet, so selling that new stock before it's settled is not allow as per Regulation T.

https://www.capitaloneinvesting.com/main/Help/Topic.aspx?CategoryCode=&FaqCode=FTERMS010


Edit: It's best to check with your bank. RBC doesn't seem to worry about this and you can trade as much as you want as long as you have the available funds.

[bspot]

Thoughts on bio?

I'm sitting on a slightly positive LABD position, but it is starting to look like this may just be more XBI consolidation rather then prepping to roll over.

I also thought this on October 5th however and made a terrible sell...

SPY is just so damn strong these days.

[Disoblige]

I'm excited to see how IIPR is going to open tomorrow.
First MJ REIT on NYSE.
May start a position in it after watching some pre-market action.

Do your research on it, could be big.

Edit: IIPR is delayed until next week instead. Although, I'm not interested in it anymore unless something changes. Not a lot of excitement into it, shares were still being offered at $20, and I'm a bit worried on the US side of things. If I invest, it'll be on the CAD side, and EMC may be interesting when that IPO debuts on Monday, Nov 28th

[bjstare]

Originally posted by bspot
Thoughts on bio?

I'm sitting on a slightly positive LABD position, but it is starting to look like this may just be more XBI consolidation rather then prepping to roll over.

I also thought this on October 5th however and made a terrible sell...

SPY is just so damn strong these days.

I've been afraid this was the case. I want a reason to get into LABD and hold for a week or two, but I haven't been able to convince myself. No matter how I look at it, XBI isn't turning around yet.

[SilverRex]

gold and miners dont look too good today. while I exited at the top of wave C and the leg down to wave D appears to be in progress. the fact that it is closing below the small triangle consolidation pattern is another bearish indicator. sold my fr.to play as well. waiting for wave D to buy back

unless of course a sudden reverse with an upside breakout then that will certain change things in short order.

http://i.imgur.com/2BKEP58.pngp

for oil, still hovering above the neckline, technically I think oil remains bullish as long as it remains above 46.50, I guess it will come down to Opec, if there is a cut, oil to 60+, if not, back under 40 as my precious chart alt count suggest

[Vanish3d]

in JDST at 36.2 this morning. For once I'd like to be on the right side of a 30% day.... let's see it happen ! Would love to see gold below 1200 today and minders making lower low

[riander5]

Lol why do you maniacs who day trade these ETFs over night not just trade the commodity directly?

[SilverRex]

Originally posted by Vanish3d
in JDST at 36.2 this morning. For once I'd like to be on the right side of a 30% day.... let's see it happen ! Would love to see gold below 1200 today and minders making lower low

i applaud you for playing both sides of the market. the fact that miners has been out performing gold of late, it can turn around. so make sure you have stops, because if it turns around the recloses above 35, that would be very bullish

[bjstare]

Originally posted by cjblair


I've been afraid this was the case. I want a reason to get into LABD and hold for a week or two, but I haven't been able to convince myself. No matter how I look at it, XBI isn't turning around yet.

Looks like it finally might be breaking down, I'll probably look to get in on a pullback if today it finishes green.


Originally posted by riander5
Lol why do you maniacs who day trade these ETFs over night not just trade the commodity directly?

The ETFs move more (%) than the commodity itself. If a person is swing trading or day trading, they can get more exposure in a 3x etf than they would with the same amount of capital in the base commodity.

side note: what exactly do you mean by trade the commodity? My response is based on the assumption that you're suggesting trading GLD.

[secol]

pretty big pullback on the green marijuana stocks. i got in on aphria in the 4.5s


edit: acb in particular touched 2.1s earlier which would be the pre-jump support area. i would've bought more but i already have two different traunches of acb and want to spread my exposure out

[Vanish3d]

Originally posted by SilverRex


i applaud you for playing both sides of the market. the fact that miners has been out performing gold of late, it can turn around. so make sure you have stops, because if it turns around the recloses above 35, that would be very bullish

Got stopped out at 37, oh well.

Now I don't really know which side I want to be on. It's so undecisive

[SilverRex]

Originally posted by Vanish3d


Got stopped out at 37, oh well.

Now I don't really know which side I want to be on. It's so undecisive

shorting from these level will continue to get more difficult because its getting cheap and there are constantly investor buying at these level as a value play or who thinks the correction is completed.

I re-entered Jnug at 6.85 and fr.to at 11.62

[taemo]

Originally posted by secol
pretty big pullback on the green marijuana stocks. i got in on aphria in the 4.5s


edit: acb in particular touched 2.1s earlier which would be the pre-jump support area. i would've bought more but i already have two different traunches of acb and want to spread my exposure out

I'm still at a gain with my MJ stocks and this pullback TBH was not a big surprise after that crazy run from last week
Day traders profited and lots of young ones lost money.
I' keeping my MJ stocks long term but may sell some next run.

[b_t]

I got into weed stocks late and would have still made 10% if I had set stops so everything sold automatically... missed all those windows by being in meetings. Also, the scotia itrade app sucks. I ended up down 25% today :rofl:

going to get back into it though once the report is out and things have calmed down. maybe January

[Feruk]

Sold all my pot last week after I saw madness taking shape. I know hindsight is 100%, but after last Wednesday's pure insanity, a drastic pullback was almost certain. Looking to re-enter, but not yet. I'd like to own pot stocks, but right now they are nothing more than day trading.

[secol]

but pretty damn good swing trading stocks. too bad i got cold feet and cancelled my order on OGI that would've filled at 2.45 easy 14%+ gain right there

[asp integra]

TCK keeps going strong for me. Should have bought more when it was in the teens a few months back

[Disoblige]

I'm making sure I have settled funds for EMC (upcoming MJ IPO on TSX-V Monday, Nov 28th).

Do your research, looks like they are anticipating the starting price to be ~$1.00-$1.25.

Looking forward to see how it reacts in the first 5 minutes of opening next week.

Edit: I e-mailed the investor relations guy at Emblem and they're trying for end of the month. So it looks like Wednesday, November 30th is the date to look out for next week.

[secol]

thanks for the heads up.....i might try to swing that one on day 1

[roopi]

Originally posted by asp integra
TCK keeps going strong for me. Should have bought more when it was in the teens a few months back

:thumbsup:

This has been a great one for me. I bought it all the way down to $5 (I started much higher though). It's getting near a 100% return for me now.

Unfortunately I did sell some shares on the way up but still have a significant amount to me.

[Disoblige]

Gold having a nice little grind during power hour.

[riander5]

Originally posted by cjblair


Looks like it finally might be breaking down, I'll probably look to get in on a pullback if today it finishes green.



The ETFs move more (%) than the commodity itself. If a person is swing trading or day trading, they can get more exposure in a 3x etf than they would with the same amount of capital in the base commodity.

side note: what exactly do you mean by trade the commodity? My response is based on the assumption that you're suggesting trading GLD.

Trading futures

You could just leverage your trades to get the same amount of risk you are getting with these ETFs.

Except you dont have a 16 hour period where you sit on your thumb and hope things go in your direction amongst ever changing conditions

[bjstare]

Originally posted by riander5


Trading futures

You could just leverage your trades to get the same amount of risk you are getting with these ETFs.

Except you dont have a 16 hour period where you sit on your thumb and hope things go in your direction amongst ever changing conditions

Ah right. I have limited knowledge on trading futures, but isn't there more risk involved? i.e. buying contracts on margin?

[SilverRex]

here it is gold under 1200, final capitulation? it will be very interesting to see how miners perform shortly after opening considering miner has been out performing relative to gold. if we see strong performance or rebound from miners, then this could be it.

[Vanish3d]

Originally posted by SilverRex
here it is gold under 1200, final capitulation? it will be very interesting to see how miners perform shortly after opening considering miner has been out performing relative to gold. if we see strong performance or rebound from miners, then this could be it.

damn it, I had the right idea with JDST but got out too early. It's ok as I learned to never hold a significant position of leverage overnight.

[SilverRex]

taking my best shot guesses at the recent drop and count. If gold truely is in a new bull cycle and not a bear market rally, would really love to see a strong recovery today or tomorrow.

while miners started to get bullish towards end of the day. their performance with today's 17 dollar gold drop will be telling.

unless you are a day trader, waiting for gold to re-claim above 1233 would be the safer plan.

http://i.imgur.com/Y3VKQbH.png

[SilverRex]

also here is an interesting development.

the current difference between the Comex gold price and the Shanghai exchange is nearly 30 dollars. if this continues it would allow investor to stand for delivery in comex and sell into the SGE.

I wonder what would it take to break the comex

http://didthesystemcollapse.com/

[Vanish3d]

call me crazy but I got into JDST at 39.5
Let's hope for lower lows today

[SilverRex]

spotting positive divergence on the 5m for miners, count wise, sell off could be done here if gold gets back above 1190. key now is to see how well miners recover.

[SilverRex]

added a 2nd position in Jnug and finally started a position in USLV

[SilverRex]

I believe wave 3 of 5 of C of (II) is done today. expecting a counter trend bounce that should not break above 1202 for gold and silver 16.50. If price goes beyond these two level, then the bottom has been struct imo.

[SilverRex]

here is something to ponder.

when gold first dived to 1211 on Nov 14th along side gdx_which made new low at the time at 20.13, that was pretty typical.

since then, gold had made two new lows at 1202 and 1181 (today). Yet gdx_remains 2 cent above the low on Nov 14th.

does that not tell you the underlying strength? sure when gold made a lower low at 1202 and gdx_did not follow, could be a 1 off thing. but to do this twice?

Either miners are running out of sellers, or they are starting to become a very good value play at these level which is one reason why they are holding up so well.

if gold is to make one last push towards the 61% fib retracement at 1168-1171 area, no doubt gdx should crack and finally make a new low. However I think we are close to a medium term bottom here with alot more upside potential which means risk to reward is immense

[SilverRex]

Originally posted by SilverRex


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

update on cooper, FCX looks like it now has 5 waves up for sub wave i, I will be waiting for a wave ii pull back to get on the train for the wave 3 move to come.

[Vanish3d]

Where is NatGas heading?
It recovered pretty well from the last sell off. Thinking it's time to go back down

[SilverRex]

Originally posted by Vanish3d
Where is NatGas heading?
It recovered pretty well from the last sell off. Thinking it's time to go back down

the latest bounce is a wave B, wave C down to lower is to come imo

[Vanish3d]

Just jumped into DGAZ and JNUG
Let's see what happens tomorrow.

[Disoblige]

Originally posted by Vanish3d
Just jumped into DGAZ and JNUG
Let's see what happens tomorrow.
Nothin. Thanksgiving. Friday short day of trading until 1 pm EST.

[bspot]

LABD today... I don't even...

[Khyron]

Calfrac halted due to "news".

[bspot]

^$40MM equity at $2.85 per share. I'm guessing that will hurt in the morning for shareholders.

[JC522]

Did anyone else holding YRI get a call from them this week about brio gold? I have to listen to the message again to really understand what it was about but could anyone who recieved this call as well help explain it to a noob

[Vanish3d]

shit, forgot US is closed today...

[SilverRex]

i read the current correction in gold is the longest since 1968. of the 39 correction that took place between then and now. it would be a new outlier event if gold continues to make new lows.

so gold will have to defy odds and probability if it wants to head lower from here.

[bspot]

Originally posted by bspot
^$40MM equity at $2.85 per share. I'm guessing that will hurt in the morning for shareholders.

Or not. I guess I officially understand nothing.

Dilution at a lower price!? Sign everyone up!

I'm assuming this must be a reaction to increased financial stability?