Official Short-term Investments Thread

[KappaSigma]

Oil is now up in early trading and jan wti is above 52. Interesting times ahead. Hoping for no big selloff in dec so that i can take profit in jan and defer the tax on it for 1+ year.

[Vanish3d]

Originally posted by ercchry
Usually isn't a ton of volume till North America opens for the week... only time will tell

time has told. gold back down.
gold and miners have been a day traders dream (if only I played it right). drops to low/mid 6's, then back to 7's, back and forth back and forth.

[SilverRex]

looks like natgas wave 3 indeed is unfolding and the last big drop down to 2.55 was a very sharp wave 2, too bad I was .05c away from loading up at the time and didnt quite get it.

natgas could go karzy and even hit 5-7 dollars in the coming months. but im not chasing, too many other better stable opportunities.

biotech looks like it's own wave 2 bottom may have been in. I have been averaging two position in late last week so far is panning out.

as for gold, gold continues to look bearish but miners continue to hold strong. as long as gdx continues to keep making higher highs above 20.27, miners appears to be just waiting for gold to explode.

doing nothing in this sector unless miner suddenly crashes 10% I may covert a few more core to leverage.

[SilverRex]

gold currently still down 6 bucks, but miners has gone green.

[SilverRex]

this is something I posted on another trading forum. sorry for the bad resolution.

but I was comparing how gold bottom to what the miners (GDX) is doing.

there is eerie similarities between the two. as long as miner keeps making higher highs, looks like upside breakout to m

http://i.imgur.com/7viVkO9.png

[bspot]

Anyone follow Fitbit? Short interest is crazy on that one. Seems like any good news could send it soaring.

[Vanish3d]

Looks like miners trying to make a run.

[quick_scar]

Originally posted by quick_scar


I am (ACB). Long term play for me.

:cry: :cry: :cry: :cry:

[SilverRex]

gold/miners lack conviction and follow thru this morning, it had every reason to just surge but it didnt. it may be trapped in a price range until the FOMC or rate hike. with a 3 waves up and 3 waves down etc.

EW still suggesting possibility of a lower low so try not to get too excited in this sector until certain technical breakout oocurs (aka gdxj over 38.79)

[SilverRex]

with gold up 1-2 dollars miners area starting to see red. not liking the weakness couple with the 5m negative divergence which is working pretty good lately. I am going to take my 15% and run on Jnug and will just watch from the side lines to see how she unfolds

update: hmm miners not rolling over... entering back 1 position just in case.

[Disoblige]

Been a great couple days of scalping JNUG. Been going in and out at the $7.38-$7.60 ranges 9-10 times, selling each time for $0.04-0.10. Fun stuff. I will be on the sidelines for the rest of today as I don't see that pattern anymore.

Scariest moment ever on my last trade this morning. Power went out and I just had 6525 shares of JNUG at $7.49 filled. Frantically went on my phone with low battery to set a limit sell at $7.51 while watching it tank to $7.40 range. Miraculously it sold at $7.51, but I only entered 6500 shares, so I'm holding 25 shares of JNUG. :rofl:

[bspot]

Originally posted by quick_scar


:cry: :cry: :cry: :cry:

What happened today? Any news?

The MJ stuff is too terrifying to me. It scares me how many people I know that never invest and are dumping tons of money into MJ stocks.

[secol]

nothing as far as i know today. but everything is down. i was tempted to average down, but i didn't want to put more eggs into ACB only. if APH/OGI/CGC drops to a comfortable level for me, i'll buy some

[ercchry]

I was going to roll my gold profits back into BLO, but there isn't any major events I can think of in the short term that would give the MJ stocks any sort of pop... so I'm just going to wait for a oil or gold buying opportunity instead

[SilverRex]

xbi biotech may have completed its bottom wave 2 correction just slightly under 61. next big resistance is around 65. I will take my profit and when for breakout confirmation before jumping back in then

[quick_scar]

Originally posted by bspot


What happened today? Any news?

The MJ stuff is too terrifying to me. It scares me how many people I know that never invest and are dumping tons of money into MJ stocks.

Worry over the conservatives calling for an investigation as to why MJ stocks have been taking off and investigations over leak info. Don't really know what can be done at this point other then some people going to jail.

As for ACB specifically, renewed worry about PP shares hitting the market this month and dilution.

I really think it will rebound before the end of the month, but I may be posting another quote in a couple weeks with more crying.

[quick_scar]

Originally posted by bspot

It scares me how many people I know that never invest and are dumping tons of money into MJ stocks.

It is a high risk play. So much depends on Gov decisions, both fed as well as prov and local. So many speed bumps that could completely derail a company. I think social license will be a huge factor in this sector and is required for gov approvals.

Lots of potential pit falls, but I think the upside if the company can navigate those is big.

[bspot]

So my request to move all funds in kind to Questrade got processed. Pretty creepy logging into my old account and seeing nothing.

Also glad I happened to sell off all my gold positions today, and have no holdings besides CEMP which is a long play for me anyway. I could have been caught bag holding with some leveraged positions. Almost grabbed LABD wanting to play a tight stop today.

I've been keeping positions smaller in case this happened, but I figured there would be more warning. Could have been disastrous...

[SilverRex]

xbi has a pretty obvious trendline at 65. if biotech gaps up tomorrow I will be selling into this strength and looking for the possibility for a mild wave 2 correction back down to the 62-63 area.

this is on the assumption that it is near the completion of a small 5 waves up from the recent low. However a very bullish scenario pegs the count as 1-2 1-2, which means biotech could just blow pass 65 and make new highs

[Manhattan]

Are you guys putting real money into MJ stocks? Pretty much gambling at this point isn't it. It's funny whenever I discuss MJ stocks with friends who are not investors how big their eyes get.

[riander5]

Made a quick 50% on CGC, took my principal out and letting the profits ride

[secol]

about 5% of portfolio in there for me

[littledan]

i started buying in when SL was aroud $0.35 / share and got into ACB starting at around 0.90.

Got about $10k invested. Yes it a gamble, but how many opportunities do you get to literally open a new market?

If I gain big, I will buy a bottle of nice vodka and go on a rager.

If I lose big, I will buy a bottle of cheap vodka and go on a bender...

[JustinL]

Originally posted by littledan
i started buying in when SL was aroud $0.35 / share and got into ACB starting at around 0.90.

Got about $10k invested. Yes it a gamble, but how many opportunities do you get to literally open a new market?

If I gain big, I will buy a bottle of nice vodka and go on a rager.

If I lose big, I will buy a bottle of cheap vodka and go on a bender...

Similar for me, but in APH instead. I got in before things went bonkers. I wanted an MJ company and APH was one of the few that is turning a profit. I don't think there is a huge downside as they have a business model that seems to be working ok on the medical side.

[secol]

Originally posted by JustinL


Similar for me, but in APH instead. I got in before things went bonkers. I wanted an MJ company and APH was one of the few that is turning a profit. I don't think there is a huge downside as they have a business model that seems to be working ok on the medical side.
you're not concerned about the veteran's preferential pricing and the demographics of APH's customers?

[SilverRex]

gold breaking out today, silver even more so. let see if it can sustain without giving back to suggest the bottom is in

[Vanish3d]

Out of LABD with a 10% gain from yesterday's close. Into LABU at 36.2 - lets see a quick bounce

Highly considering JDST as everytime miners go up, it's followed by a crash. and it looks overbought right now.

[SilverRex]

looks like biotech could not muster enough to get to 65. already drop thru 62-63 like a butter knife. as long as it remains above 62, im going to say this is the sharp wave 2 pull back

[SilverRex]

cant rule out miners will fizzle out again since FOMC is next week.

i may just take my profit and wait again

sold my Jnug as well as Fr.to and abx.to to light up my holdings. cant refuse 15-20% profit. will set some cash aside in anticipation that there is one more lower low ahead.

if this sector does breakout, plenty of opportunity to buy back and key retest levels anyways

[bspot]

So sad I couldn't buy LABD yesterday. I think the trump gap fill is a real possibility here.

[SilverRex]

if you look at ibb, which is more liquid, its hitting its 61% now and completely filled the gap left during the initial rally. if your a betting man, this may be the place to start loading up.

added a 3rd position in labu. if xbi does fill the gap completely down the 58.7 area I will double up my position.

considering xbi is more bullish than ibb, back in July xbi never filled the gap but ibb did.

[littledan]

sold off a small position of BTE @ $6.26 yesterday. wonder if I mis-timed this one.

[secol]

Originally posted by littledan
sold off a small position of BTE @ $6.26 yesterday. wonder if I mis-timed this one.
i think it depends if you think they'll find the remaining 300K cut or not this fri/sat/sun. if they find it, should get a pop again

[Disoblige]

Interestingly, very little press on this but looks like CannaRoyalty (CRZ) is set to be trading starting tomorrow.

http://www.marketwired.com/press-release/cannaroyalty-completes-rto-and-announces-december-8-trading-date-cse-crz-2181232.htm

No idea on starting price or shares offered. Will be interesting to see it trade tomorrow, if this is true.

Beats EMC by a day as well!

Edit: CRZ opened pretty high and currently in the mid $3's. I can't even see it on my bank since it's on the CSE. Waiting for EMC.

[SilverRex]

Fasten yourseatbelts

The equities market is ready for a complete melt up. Even the transportation is confirming the Dow theory it is in a bull market

Biotech had a knee jerk reaction but will soon catchup and rebound from current levels

Gold is on light volumn and so it may not have a trend until FOMC is behind us.

[SilverRex]

for oil, as long as it holds above 48.5, then the path to 60 ensures. otherwise under 48.50 i will start to question the rally and a chance under 40 is still possible.

[SilverRex]

rebought 1 jnug lower at 7.5 after selling at 7.96 a day ago. i can get use to this pattern.

rebought fr.to at 12.50 after selling at 13.40

i have 3 position in labu, 2 at current levels. so far looking good.
if xbi wants to hit the 61% and fill the gap i will double up in a heart beat.

[riander5]

Silver rex i feel like you have been bullish on gold from 1370 and all the way down

[SilverRex]

Originally posted by riander5
Silver rex i feel like you have been bullish on gold from 1370 and all the way down

yes i am bullish as a long term position holding, but do scalp the swings when i seem them. if you go back to all the post i made, i am always looking for a good entry and suggested many times over that charting does show lower prices in this sector. and because of this, i kept my leverage play to a minimum of about 5% instead of 25% when gold first moved from 1199 to 1375.

despite the drop, i am actually well positioned, if gold ever goes back to 1370 i will be way ahead then i was when gold first tested that level.

i have been taking full advantage during this drop and opened various new core positions in ndm.to, usa.to, ipt.v, gpr.to and all of them are green. even increased my holdings in k.to and yri.to despite giving back some gains those i continue to cost average and hold for many months.

and because i believe gold is in a bull market, i would never short it as surprise is always to the upside. that is why you only see me buying and not shorting. aka dust

[KO22]

Buy in today or tomorrow on Oil? Decisions decisions..

[SilverRex]

Originally posted by SilverRex
I was eyeing NDM.to for the last few weeks, every since it popped (breakout signal) from 1-1.39, I nearly pulled the trigger to buy when it dropped back to 1.00 (as low as 0.93)

then this week it jumped over 2 :banghead:

anyways opening a very small position at 1.66, will continue to scale in if she drops further

looks like my late position is still yielding fruit. with ndm.to first out of the gate. up 45% so far.

update. with gold havent confirm a new cycle yet, i am going to take my profit at 2.50 to free up some cash. exactly 50% gain, cant be too greedy

[bspot]

So when VB transferred my account, they did it without notifying me, updating their computer systems, or removing access to my account until later.

One morning I sold a bunch of stuff in my TFSA account prepping for the move. I get a call later that day saying the transfer is initiated, and logging in see all of my account info gone, as expected.

I then get a call today telling me I have open short positions in my TFSA I have to cover. WTF!?

So apparently they had already transferred my account that morning (I suspect they just put what they'd be transferring on a piece of paper) and when I made those sales, I was selling positions I no longer held, because they were en route to Questrade.

So now I am short a bunch of stuff, and they waited until today to cover it, after it had all gone up a bunch.

It's not even allowed to short in a TFSA. What an awful company. They won't own any part of the responsibility for the situation either.

[Marsh]

Originally posted by bspot
So when VB transferred my account, they did it without notifying me, updating their computer systems, or removing access to my account until later.

One morning I sold a bunch of stuff in my TFSA account prepping for the move. I get a call later that day saying the transfer is initiated, and logging in see all of my account info gone, as expected.

I then get a call today telling me I have open short positions in my TFSA I have to cover. WTF!?

So apparently they had already transferred my account that morning (I suspect they just put what they'd be transferring on a piece of paper) and when I made those sales, I was selling positions I no longer held, because they were en route to Questrade.

So now I am short a bunch of stuff, and they waited until today to cover it, after it had all gone up a bunch.

It's not even allowed to short in a TFSA. What an awful company. They won't own any part of the responsibility for the situation either.


Shit man, sorry to hear that. I know your pain, was with VB for a while and they are absolute shit. Moved to Questrade earlier this year and haven't looked back.

[troyl]

Originally posted by Marsh



Shit man, sorry to hear that. I know your pain, was with VB for a while and they are absolute shit. Moved to Questrade earlier this year and haven't looked back.

But you still "own" the shares in your new TFSA as they transferred in-kind? Transfer the "short" positions from VB to Questrade to offset?

[Khyron]

Can't find EMC on TD webbroker, either under stocks, new issues or options. EMC.TO as well.

[KO22]

^ They're aren't going till Monday now... 2nd time they did this, sketch

[SilverRex]

biotech looking good. if xbi can break above 65 that would be a pretty good indication that the bottom is sealed or without breaking below 61.50

[Disoblige]

Originally posted by KO22
^ They're aren't going till Monday now... 2nd time they did this, sketch
Yeah, it's very strange, but I am not surprised.
They did an AMA on Reddit yesterday afternoon, and no mention of that whatsoever. Then later that evening, the news hit unofficially and was confirmed by Danny shortly after.

It makes sense that they wouldn't want to debut on a Friday, but what doesn't make sense is waiting up until the last minute to alert everyone. There must be more to the story but I know a lot of people are upset over it, particularly those in the US who purposely missed out on other opportunities to have settled funds available.

Based on Danny's message, he said "hopefully Monday". So don't be surprised for another delay.

On a side note, I am not touching CRZ with a 10 ft pole for multiple reasons. It's a Canadian ticker but for US assets for MJ, very low volume so far, and the starting price came in pretty high and steadily declining.

[SilverRex]

well ndm.to is on fire after hitting 2.7 at the open, it has falling (profit taking) back down under 2.30, I may re enter if it goes a bit lower.

so with ndm out of the gate first, whos next?

USA.to seems like it has some traction...

[bball2]

So what happens if you're still holding UWTI or DWTI right now?

Edit: guess I'm just waiting until I can sell OTC

[SilverRex]

if 60.50 was the bottom of this correction in biotech, I would like to see 5 waves up (currently only 3 waves up) then another wave 2 correction back to current areas then taking off.

breaking above 64.5 is another sign the bottom may be in.

if biotech breaks under 61.5 without making a 5th wave up, then we could still be looking at lower prices with the 58 areas still on the table

http://i.imgur.com/gHc8jkt.png

[bspot]

Originally posted by troyl


But you still "own" the shares in your new TFSA as they transferred in-kind? Transfer the "short" positions from VB to Questrade to offset?

Yup, the problem being they covered the short positions at basically their max price over the last few days, and now that I'm able to trade again in the new account (today) everything is down.

SilverRex, the stuff I'm on the hook for is miners. Any hope in the next few days, or should I bail and take the small loss now? :rofl:

I was really happy with my exit point, and since I didn't expect to be holding these, I don't really have a great plan currently.

[SilverRex]

Originally posted by bspot


Yup, the problem being they covered the short positions at basically their max price over the last few days, and now that I'm able to trade again in the new account (today) everything is down.

SilverRex, the stuff I'm on the hook for is miners. Any hope in the next few days, or should I bail and take the small loss now? :rofl:

I was really happy with my exit point, and since I didn't expect to be holding these, I don't really have a great plan currently.

its your call, I do not know what your risk tolerances are. I am going to be buying all the way down from here until FOMC next week.

[bspot]

^My risk tolerance is rather large. I'm just in HGU, so only 2x leverage. This is way less scary than JNUG 30 -> 12

[SilverRex]

My limit order kicked in, added my 2nd Jnug position at 6.55
got back into ndm.to at 2.29

[SilverRex]

Originally posted by bspot
^My risk tolerance is rather large. I'm just in HGU, so only 2x leverage. This is way less scary than JNUG 30 -> 12

if miners follow the same pattern as last year. then we should see one undercut low soon.

[Disoblige]

I haven't paid attention to miners for a bit, but Silver, what is your logic in regards to your bull miners play? Are you planning on unloading your JNUG positions for a quick profit or riding through FOMC?

Up until the Feds meetings, don't you expect it to keep going down with the high expectation of a rate hike? So wouldn't it make more sense to buy in the day of or a bit after when the selloff occurs from short term panic?

Just wanted some perspective and what your opinion is.

[SilverRex]

Originally posted by Disoblige
I haven't paid attention to miners for a bit, but Silver, what is your logic in regards to your bull miners play? Are you planning on unloading your JNUG positions for a quick profit or riding through FOMC?

Up until the Feds meetings, don't you expect it to keep going down with the high expectation of a rate hike? So wouldn't it make more sense to buy in the day of or a bit after when the selloff occurs from short term panic?

Just wanted some perspective and what your opinion is.

i thought you were asking about silver prices. count wise silver may not make a new low even if gold does. it would appear silver may have bottom potentially considering it has been relatively strong lately.

My own personal strategy is to simply convert more core positions into leverage the lower she goes from here on out. I am already quite fully invested about 80% of my portfolio is in the gold sector. but currently only 8% is in leverage play.

if there is a lower low, personally I believe we will only see a false breakdown follow by quick recovery. However, keep in mind the worse case scenario - we could see gdxj down to the 30 area which was one of the original bearish EW forecast. at 30 gdxj that is like jnug at 4-5 dollars.

however I have to refrain myself from adding any more Jnug at this time until it drops substantially. simply put, any more downside would trigger more selling and stops being run down.

to me, leverage play has always been more of a short term trade. But I havent decided it it would be best to hold onto one of them considering the sheer magnitude of upside potential if miners somehow was able to claw its way back to a new high.

I may have to wait and see and depends on how my other holdings do.

[ercchry]

Sold my put contracts of dgc for a modest 32% gain... rolled that money into rrx calls for what could potentially be a fun Monday for oil... still have dgc calls that I'll probably be holding the bag on at this rate, but fingers crossed dgc can see $24 again before jan expiry :cry:

[SilverRex]

i am however watching gdx at 20.27 closely. it was the 3rd higher low swing. if this gets taken out, it could create further selling, so I may be tempted to take a swing at this level and light up a few position to see if I can catch a lower re-entry.

[ercchry]

Woo!

https://www.bloomberg.com/news/articles/2016-12-10/non-opec-joins-opec-in-first-global-oil-output-cuts-in-15-years

Hopefully this goes well

[Kloubek]

I sure hope so. I have 80% of my portfolio tied up in oil. Made a decent jump when OPEC cut, and am hoping this is the start of recovery for the sector. (Both personally, but also from an economic standpoint)

[Vanish3d]

I have enough oil position. But highly considering dumping all my other gold and silver to buy oil at open.

[KO22]

Dumped all my money into oil morning of Nov 30th, slowly buying shares on the rise up.. flames win, opec and non opec agreeing.. good weekend

[ercchry]

I'm not even sure how to play next week? Let oil holdings ride, or sell before fed announcement and roll it back into gold?

[ercchry]

Oil opens at $54 :eek:

[KO22]

w0000000000

[SilverRex]

Originally posted by SilverRex
havent posted any counts on meg and bte for quite a while. But looking at it today, pending no outright crash with oil back down to under 45. the bullish view is to see oil find a bottom between 46-47 then both bte and meg will look ripe for a sub wave 3 move.

I have re-entered a small stake in both company to see if this 1-2 count remains valid. I will be using a mental stop loss. as long as the previous bottom in late sep holds, I will continue to trust this count. both company has already corrected 61% off the bottom, so definitely potential for the next up swing if oil plays it's part.

http://i.imgur.com/9Xuk8BZ.png

back on oct31, it looked like bte and meg was about finishing sub wave 2 and ready for wave 3.

here we are both stocks in its sub wave 3 advance. who would have thought news actually fulfilled the move up. not saying this is 100% of the time, but i have been expecting oil to make a wave 3 move up after this multi month wave 2 correction.

:D those heavy in energy, wave 3 is the best time to enjoy. as an example. similar breakout when barrick gold first broken above the 11 dollar resistance which went another 200%.

the reason i bring this up is that over all there are alot of stocks not just energy in the same pre sub wave 3 breakout range. lots of opportunity dead ahead. e.g.biotech is also finishing up in its wave 2 correction as well.

[ercchry]

I'd be happy with 50%... like really happy... if 200% happens?! :eek:

I feel like this week will be a practice in self control, I always bail early with things like this

[Vanish3d]

So it's not too late to load the boat on energy today?

[secol]

wow...meg up to $12 definitely missed the boat there. i was worried about this weekend not working out with non-opec so i cashed in on meg on friday.

[Vanish3d]

^ shit I think it is too late to load up. I suppose I should just be happy with my current position and look for an exit point

[troyl]

Originally posted by secol
wow...meg up to $12 definitely missed the boat there. i was worried about this weekend not working out with non-opec so i cashed in on meg on friday.

$12?

[secol]

just the premarket bids. it's down to $9.XX now

[el_fefes]

What are you guys doing in advance of the Fed meeting this Wednesday? HGD/JDST for a quick flip?

[el_fefes]

Also...

http://www.bloombergquint.com/markets/2016/12/10/citi-revives-popular-leveraged-oil-etns-credit-suisse-killed

CITI revived these ETNs with higher expense ratios. UWT/DWT are the new tickers

[jacky4566]

Damn. Sold all my MEG at 8 thinking this was going to be the peak before a holiday season low. Still got 25% so im happy.

[Kloubek]

Up 11% with BTE, just cashed out. It is still a long for me, but my uneducated mind expects a reduction through the day.

Up 5% on BNE too, but will likely just let that one ride as it is also a long and my position is relatively small.

Also went in on DGAZ Friday, for a 16% gain today so far. This one I feel is still a good price, looking at historical prices. Hell, it was worth double not even a month ago, and appears to be at a relative low point.

It has been a good stock day.

[SilverRex]

gold has been stuck in this stair step channel and unable to break above the neckline.

price has found its way back on light volume. I am incline to just exit my Jnug and wait for a better re-entry or until price can confirm a breakout to the upside.

also on the 5m chart, gold appears to have put in 5 waves up off the bottom, so I will at least expect a pull back from here.

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

[ercchry]

RRX is still stuck at that damn ~$11 resistance... guess I'm waiting till the first Wednesday in the new year and hope that everyone actually played ball

[SilverRex]

if gold did bottom ahead of FOMC meeting, then I expect a pull back down to the 1157-1158 then launch.

a slight extended wave V could still peg it higher towards 1166, but with light volume, personally I do not believe it can breakout until FOMC day.

http://i.imgur.com/rPu8KbP.png

[SilverRex]

nice flip today. sold jnug at 6.95 and bought back at 6.55

[secol]

should be a big day tomorrow on the green stuff

http://news.gc.ca/web/article-en.do?mthd=index&crtr.page=1&nid=1168639

[littledan]

big day up or big day down!!!!

[Disoblige]

Should be an interest day for MJ. All my funds in CAD now so looking at ACB, OGI and EMC for tomorrow, and eyeing an entry back into gold miners soon just before or after FOMC. Earliest will be one position into it before end of tomorrow.

[secol]

will be tough to decide whether to get more in to the green stuff. looks like they will all gap up at open

[secol]

live stream here of the announcement. everything is just slightly up/sideways so far

http://www.cbc.ca/news/politics/marijuana-legalization-pot-task-force-1.3893876?cmp=rss

[SilverRex]

well so after gold forming the 5 waves off 1151, I was expecting the typical 3 waves down to the 1157 area which we got today. now if the bottom was in, I would like to see gold find its way back towards 1164 and perhaps push for an upside breakout, then the fun begins.

until it can break the multi week down trend line now situated near 1164. technically gold remains weak.

personally added fr.to and 2nd jnug position (with stops below today's low) to try and catch this scenario if it pans out

http://i.imgur.com/mGMKW6l.png

[jacky4566]

Lets go Aurora! I wanna see 3$ today!

[SilverRex]

also FCX has finally started to retrace/correct deeper. if this is a A=C wave relationship, it could be a very shallow retracement with bottom being near 14.45, I may open a small position here and add more (if) she can get down to the 12-13 area. the 200EMA near 13.68 would be the sweet spot for myself

update: it rallied strongly falling 7c short on the target. is the bottom in? hope not, would like to get in on the action...still waiting

[SilverRex]

caution if the low in miners and gold this morning gets taking out, it could be headed for new lows.

[Disoblige]

Originally posted by jacky4566
Lets go Aurora! I wanna see 3$ today!
I played ACB as it was the one that held the strongest out of them all. Big spike into the task force conference call followed by profit taking. But now it's gaining momentum again, so good for you if you could buy back in from that dip.

I'll be on the sidelines for FOMC tomorrow now.

[Vanish3d]

what a boring day for everything - miners, energy, biotech

[SilverRex]

Originally posted by Vanish3d
what a boring day for everything - miners, energy, biotech

energy is being stored for tomorrow's big announcement.

[ercchry]

I was really hoping oil would breakout before the fomc so I could play gold... not sure what has more potential right now

[SilverRex]

looks like usa.to finally getting its turn.

[Disoblige]

All cash, ready to go for tomorrow.
Didn't make a JNUG entry today as it held strong to the close.

Tempting to try to get in an a dip tomorrow, or initial knee jerk reaction.

[ercchry]

Originally posted by Disoblige
All cash, ready to go for tomorrow.
Didn't make a JNUG entry today as it held strong to the close.

Tempting to try to get in an a dip tomorrow, or initial knee jerk reaction.

If you're just going for a quick play why not grab some option contracts for a miner or two? If you get something that's almost covered you can usually double your money with a 10% gain of the security

[Disoblige]

Originally posted by ercchry


If you're just going for a quick play why not grab some option contracts for a miner or two? If you get something that's almost covered you can usually double your money with a 10% gain of the security
That's true, but I'm not very familiar with options yet; it's kind of a whole new can of worms for me. I'm playing around in my practice account, but that's it.

But yeah, I was thinking of buying some GDX calls today leading into tomorrow :P

[ercchry]

So many ways to use options, but for events like tomorrow I basically just go long on the best "deal" contract that I can find with what I hope the outcome will be.

ie. my oil play (that hopefully pans out tomorrow! Was hoping for a bit more of a frenzy on Monday)

I like RRX, just a great company... so that's who I picked. Probably would of got more mileage out of meg... but whatever

So RRX keeps banging against $10.90, just can't seem to break the resistance... my hope is that this new agreement was/is enough to get through that but the market seems to think it's stuck. So the Jan expiry for the $11 calls is worth almost nothing... last Friday at ~$10.30 I grabbed the $11 calls for $0.20/contract, spread of only $0.05 at the time... now they are worth $0.40 and that's with the security only hitting $10.80... still holding cause I still feel like it's going to break that resistance... and if it does then from here out basically for every dollar RRX goes up, I'm seeing 3.5x my initial investment

Downside though is if it doesn't happen then it's going right to zero... but if you make your full trade the same as what you would of set a stop loss at, then you don't need nearly the same capital as you would with a leveraged etf, or just a straight stock... meaning you can have a few more things going on at a time and always have one in the chamber for those quick unexpected trades that come up