Official Short-term Investments Thread

[jacky4566]

Wow MEG is sitting like a rock all week. Just solid at 9.35. Would it be wise to trade a short back to 8.0?

[ercchry]

Originally posted by jacky4566
Wow MEG is sitting like a rock all week. Just solid at 9.35. Would it be wise to trade a short back to 8.0?

You have one more Wednesday till the numbers start to reflect the cut, and it's Xmas... so volumes are probably going to be low... I wouldn't

[ickyflex]

Originally posted by jacky4566
Wow MEG is sitting like a rock all week. Just solid at 9.35. Would it be wise to trade a short back to 8.0?

The trend is your friend. everyone wants oil to run to 55-60.

I wouldn't be surprised to see it get there IF opec does cut

[SilverRex]

Originally posted by Disoblige
Personally, one fundamental reason that is keeping me holding is how long can this dollar and market rally last? Is Trump going to deliver all his promises? I say no. When will reality set in and people start getting back into gold?

wasnt Trump in favor of a weaker dollar?

[Vanish3d]

SilverRex, it looks like natgas started or about to start wave 3 on the daily chart. Am I reading this shit right?

[Disoblige]

Originally posted by SilverRex


wasnt Trump in favor of a weaker dollar?
Yeah, he is. In May, he said this:


"If we raise interest rates and the dollar gets too strong, we're going to have some major problems,"

But this was before he was even the nominee. Don't know if things have changed since he's going to be president. So I'm sure he would like to devalue the currency, but for the short term (depending what you call short), looks like the dollar and markets would rally for Trump. That's what it looks like, anyways.

How long would it take for this trend to reverse? Feb? Mid-2017? Even further? I don't know.

[SilverRex]

Originally posted by Vanish3d
SilverRex, it looks like natgas started or about to start wave 3 on the daily chart. Am I reading this shit right?

yes it does look like wave 3 has started targeting 4.8, keep in mind nat gas is highly volatile, it can swing to the extreme on both direction. some analyst can still call the recent run up a wave B given how short in duration the last drop to 2.5s was.

FCX appears wave 2 correction under 13.90 to be completed. count wise suggest, it should begin its wave 3 as well. although it can fill the gap at 13.60 which is the 61% level if the correction reaches that far. i may be tempted to increase my position sizes

didnt Trump selected Carl Icahn as an advisor of some kind. One of Icahn's top holding is FCX

[bspot]

Lets play a game of "How can I draw some trend lines to give my underwater miner positions some optimism?"

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_4bdfa2119cc4e152597dfc044d289b8a.png

If this has any merit, gold should tag near the 78.6 retracement at 1115, then we should at minimum have a relief rally to around 1273.

*Note, the above is driven by completely wishful thinking and not to be taken as advice for trades.

This will take until about May. At this point, holding through spring seems like a decent plan for a few reasons.

[SilverRex]

^

here is what could support your 1115 target.

currently gold is in a triangle pattern. another h&s which will target the 1110 area if the neckline does not hold. noticed the last day or so it has been moving in an mini ending diagonal pattern. which can give some life and break to the upside.

so the final leg down (lower low) could be underway, or it needs to break upwards and invalidate this bearish setup. one of these days the bearish pattern will fail.

first clue it needs to break 1137 follow by 1145

might be safer to enter after gold recaptures the above resistance.

https://s27.postimg.org/jvo64ondv/gold_12_22_2016.png

[SilverRex]

looking at biotech.(ibb)

it is pretty clear that it moves in 3 waves pattern. a bearish scenario would imo should still put in a top above 300. follow by a decline to new low. this scenario probably would indicate a crash in the stock market

however the bullish scenario if the stock market is now entering a parabolic bubble phase (like it hasnt already in one) due to collapse of the bond market, money is flowing into anything but cash.lifting equities to unfound levels. then biotech would breakout of this consolidation funk and just astound.

i think regardless of which scenario that unfolds. there should still be money to be made and the convergence target zone is a good place to take profit and wait for confirmation on either direction.

https://s27.postimg.org/7j6261msj/ibb_12_22_2016.png

[Disoblige]

Originally posted by bspot
Lets play a game of "How can I draw some trend lines to give my underwater miner positions some optimism?

Hahah, you too? Yep, I'm thinking Spring time unless something funky happens with Trump in Jan/Feb.

[SilverRex]

gpr/gpl looks like wave 3 is under way.

ndm.to is also back to the top of the trading range.

hopefully the bullish action in these stocks is a sign that the entire sector is about to turn soon

[bspot]

I sure hope this action on miners holds up until tomorrow. This looks like a nice spot to wind down all of my averaging down on HGU to get back to a more reasonable position.

[SilverRex]

Originally posted by bspot
I sure hope this action on miners holds up until tomorrow. This looks like a nice spot to wind down all of my averaging down on HGU to get back to a more reasonable position.

i am hoping there will be another gap up tomorrow so i can unload ndm.to

my average price is 1.39 , it was up 10% friday.and today up another 30%. im up 137% after a month. i intend to take profit on this one

gpl/gpr.to also continues to make new highs up 47% since my entry. will continue to hold until it atleast doubles as well.

also will unload 2/3 of my Jnug as well.


:D

[SilverRex]

also gold finally made a swing low by taking out 1145. if sector can follow thru tomorrow then the the likelihood that gold had bottom on dec15 is a very high possibility.

[TYMSMNY]

Originally posted by SilverRex
also gold finally made a swing low by taking out 1145. if sector can follow thru tomorrow then the the likelihood that gold had bottom on dec15 is a very high possibility.

looking like a significant rally. heading into gold bullions tomorrow morning.

[SilverRex]

next confirmation is for gold to break 1152

sold ndm.to and 1/3 of my Jnug today

[ercchry]

11% on dgc today! Fingers crossed this is just the beginning... still got a ways to go to be even

[bspot]

Freaking CEMP. Took a huge position on it and PDFUA dates were yesterday ands today. Nothing released. I just want some news dammit.

Dropped my HGU to a reasonable position size. Unfortunately had to do it in the morning due to travel.

[SilverRex]

so far gold has been creeping back up after hours. very encouraging so far.

looking at gdx we have our first cycle trendline breakout. which could signal this is a new daily cycle. if the bottom is in, then it should find its way to the next multi month trend line at 22.

again if gold can do its part and close above 1152 tomorrow or next week, then i would start to get more excited.

https://s30.postimg.org/5iocaoxch/gdx_12_28_2016.png

[TYMSMNY]

Originally posted by SilverRex
[B]so far gold has been creeping back up after hours. very encouraging so far.

looking at gdx we have our first cycle trendline breakout. which could signal this is a new daily cycle. if the bottom is in, then it should find its way to the next multi month trend line at 22.

again if gold can do its part and close above 1152 tomorrow or next week, then i would start to get more excited.


1150 right now, another couple blinks of the eye it'll make it.

What's the story on GDX? not much into miners these days, more into bullion and physical gold.

[SilverRex]

Sold my 2nd JUNG position.

JUNG had returned over 60% off the low. Pretty sweet stuff

[ercchry]

Almost 20% in two days on dgc. :eek:

[SilverRex]

there it is. gold broke 1152. looks like confirmation is in. technically we should now be in a buy low sell high new gold up swing for the coming months

[el_fefes]

Damn... big movement today! Missing out. SilverRex are you putting your JNUG funds in core positions? (YRI etc?)

[Disoblige]

Looks like I'm holding my JNUG for the ride up. What a crazy day :) Christmas came late.

[SilverRex]

Originally posted by el_fefes
Damn... big movement today! Missing out. SilverRex are you putting your JNUG funds in core positions? (YRI etc?)

no, trading jung has always been a short term tool. i have already increased my position sizes on yri and k during this pull back and will let it sit for the 6 months then evaluate.

if this is the wave 3 everyone has been waiting for (like myself) then the gains will be enormous in 2017.

what did i say about weeks ago that jnug worse case was going to tag the 4-5 range. it was a buy every dip. now it is up nearly 70% off the low.

the hardest part isnt averaging down but rather can you and how you can hold onto your profits and simply let it ride up.

my own strategy is to hold core for long term and trade leverage on swings.

i hope this rally has helped everyone here who is playing this sector. i think is time we get some light at the end of the tunnel

[Disoblige]

Originally posted by SilverRex

the hardest part isnt averaging down but rather can you and how you can hold onto your profits and simply let it ride up.
This.

[SilverRex]

gdx is smack in the middle. it can go either way. tagging 22 or falling back to backtest a trendline breakout at 21

gdx 50 day moving average is also near 22. if miners make a new high i may let my last jnug position go and try to anticipate a pull back. rsi is also overbought and could use a reset back to neutral

[TYMSMNY]

got in early on the 27th for HBU and CGL. love my bullion.

Gold and Silver above 1 point today. beaut.

edit: anyone into other commodities such as Coffee?

[SilverRex]

added a 2nd position in fcx as it hit my buy zone under 13.5, not going to add anymore unless fcx would fill the gap down in the low 12s.

[Disoblige]

After such a run-up over the past few days for JNUG, we should see some healthy consolidation soon, no?

Might unload some and buy back in on that consolidation.

[SilverRex]

miners and gold are flagging, flag in an uptrend typically results in a breakout to the upside. while no patterns are guaranteed. we will see if it plays out so i can unload my last position

[Disoblige]

JNUG high of the day near closing. WOW!
I will be looking to unload tomorrow, maybe.

[SilverRex]

as i was saying bullish flag pattern, so far gdxj is the first to breakout and to a new high.

32.73 is a good place for a stop limit. ive seen too often if price cloeses below this after a breakout then a larger decline ensures.

https://s24.postimg.org/3yg8y46dh/gdxj_12_29_2016.png

[SilverRex]

wow, last minute breakout + surge on volume. very bullish close

jnug went up 77% in 9 days. anyone who was just averaging down should have done well regardless.

looking for a slight gap up tomorrow to unload

[Disoblige]

RIDICULOUS!! :D :D :D

Okay, now the question is, do we see profit taking tomorrow before the weekend/New Year?

I'm thinking on unloading tomorrow, but I see no reason to technically if we don't lose the 20MA hourly.

[SilverRex]

Originally posted by Disoblige
RIDICULOUS!! :D :D :D

Okay, now the question is, do we see profit taking tomorrow before the weekend/New Year?

I'm thinking on unloading tomorrow, but I see no reason to technically if we don't lose the 20MA hourly.

because its year end. fund managers may be taking profit on their short position hence the bounce. and next week they could be right back at it shorting.

ive learn to take profit off the table no matter how confident i am in the market. after all, a win is a win. any profit is miles better than a position under water.

[SilverRex]

also gdx topped the SoS list on a record -669m which typically suggest a drop is imminent

[SilverRex]

gold is making a move after hours. hopefully it can hold up for a good starting friday morning.

[ercchry]

Originally posted by SilverRex
gold is making a move after hours. hopefully it can hold up for a good starting friday morning.

It should with all this eurozone nonsense

[Kloubek]

Man did I wish I didnt have most of my funds tied up in long plays already.

Made 10% on silver today, but that gold has been insane. Congrats to those who got in on it.

[SilverRex]

trying to guess if gold will be consolidating towards a possible rising wedge. so long the orange up channel holds. then gold should still be looking for further upside.

i think if the orange rising support fails then 1163 could be a short term top forcing gold to retest the 1150-1152 level

https://s29.postimg.org/6csx3nyx3/gold_12_29_2016.png

[Vanish3d]

Of course since I decided to dump my Jnug and take a break over Xmas it sky rocketed fml

[Disoblige]

Sold pre-market this morning to lock in profits. Didn't want to risk it as it was slowly going down. Damn, huge commission charge but that's OK.

Will buy back in at a dip perhaps.

Edit: Looks like it's coming back up, I may come along for the ride :D
Got back in :D

[SilverRex]

Sold my last JUNG above 7 this morning now will Wait. Jnug went up 90% in 10 days that's madness

[SilverRex]

So far miners only has 3 waves up, this impulse rally is wave 3 and if it extends then it can still go higher but gdx at 22 is s good place to take a breather. Looking for wave 4 pull back to rebuy perhaps profit taking will now occur . Looking for JUNG back to 5-6 range

[Disoblige]

PHEW. Scalp traded JNUG several times in the past 30 minutes within the 6.90 to 7.05 range and it was beautiful. I think I'm done for the year. Good luck all, happy holidays.

And now it's dumping. Wow!

[SilverRex]

Rebuying 1 JUNG under 6 as count suggest gold may still have 1 more leg up into the 1170 area.

as my last chart suggest. gold failed the orange rising support and triggered a correction.

i think worse case is 1150-1152 but gold can bottom here as a bare minimum.

a recount, it is possible this is still only a wave 4 resulting in 1 more higher high for gold before a steeper correction

updated chart.

as you can see, we have a confluence of support making gold a possible bounce from here.

https://s23.postimg.org/4oisldeej/gold_12_30_2016.png

[SilverRex]

also stepping back. i mention miners had 3 waves up. well today's decline pretty much seals the wave 4 move down. the critical part in all of this is that it needs to make a wave 5 up with gdx breaking above 22.23, this would be like a nail in the coffin and final confirmation that the low should not be revisited.

update. gold got down to 1151.55, if 1151 gives way. it will punch down to1146 which is the target for this morning's h&s breakdown.

personally i would like to see this zone hold and only be revisited after gold makes a higher high first.

[SilverRex]

5m positive divergence on the miners forming. hopefully the bleeding stops and a bounce starts

[SilverRex]

just a quick update and chart.. if the bottom in miners is in. then this pull back is a correction. the only question is whether this is a sub wave 4 pull back or a larger wave 2. looking at the daily chart, it looks like miners only have 3 waves up. but we will know by next week, if this is sub wave 4 then price should bottom here.and begin consolidating between 21-22

notice the top was on strong volume? well the sell off was also on volume.

also if miners gap up or can remain above 21, then there is a good chance it has successfully backtested the previous trendline breakout. with price bouncing off 20.80 today, it is also the 38% fib support level.

however if this is a wave 2 pull back, then this drop may only be wave A down. with a possible lower low that could tag the 50 or 61% fib level. this would help fill the gap below as well as the possibility of tagging the rising channel support.

personally i have opened a position in jnug under 6. if miners heads down to the next two fib level, i will add a few more positions.

yesterday during the record close, gdx was SoS with over 600m, today on the decline it was again on the list but Bow over 500m. i am leaning towards a bounce next week.

https://s23.postimg.org/689nfi4bv/gdx_12_31_2016.png

[SilverRex]

looking at the daily chart for gdx to start the week. as mentioned previously, i was expecting gdx to take a break at 22, sure enough it came crashing down after it hit slightly above 22. obvious reason is the down trend line that started this entire swoon. closing or breaking out from it would have been extremely bullish.

also on this chart, miners looks like there is only 3 waves up. which means, if the bottom is in and a multi week or even month up trend beings, then we need to see a 4th wave higher than 22.23

also notice how gdx is currently backtesting a previous neckline breakout. ideally i would want to see price continue to hold above this neckline until the next breakout.

the alt view is that somehow this pullback is already wave 2, and could stretch further down to the 20.4 and under 20 level. which i will gladly add more positions

https://s27.postimg.org/ac83f7m03/gdx_01_02_2017.png

[ercchry]

Well, strong start to the week for gold so far!

[SilverRex]

one thing i was concern last week was that breaking below 1151 would be a neckline h&s breakdown targeting 1146. funny how gold managed to hit 1146 dead on this morning.

since then, gold has a mini 5 waves up and 3 waves down. so let see if it can translate into something significant

[SilverRex]

if I counted this correctly, biotech looks like 1-2, 1-2 completed sub 3 ready to launch

https://s28.postimg.org/6ajfe5ulp/ibb_01_03_2017.png

[SilverRex]

fcx also has a similar setup. and confirmed with a neckline breakout. while it would be nice to pick up more shares in the low 12s. I am fine with fcx moving up now

https://s27.postimg.org/uugxqemmr/fcx_01_03_2017.png

[SilverRex]

interesting action on gold. either gold is very corrective today and a break under 1146.50 could trigger a big sell off.

or it is extremely bullish in a 1-2, 1-2 setup waiting to explode.

https://s29.postimg.org/np6ln4ynb/gold_01_03_2017.png

[SilverRex]

bought back a position in ndm.to seeing it has filled the gap down the 2.6 area

[SilverRex]

well gold breakout out of the neckline, lets hope this is the real breakout and not a head fake. so long gold holds above 1151 I would view this as very bullish implication

https://s27.postimg.org/s86u8y4sj/gold_01_03_2017_B.png

[ercchry]

Oil.... was so promising :cry:

[ickyflex]

Just out of no where down 2 bucks. Nat Gas down 10% as well. So confusing sometimes lol.

Opec legitimately starts cutting too

[SilverRex]

one concern is that gold managed to break last week's high yet miners did not. So we have to see who is leading who. perhaps alot of technical buyers are hesitating until miners can break out from the multi month down trendline.

also gdx now has a right shoulder forming. which means if gdx dives or closes under the 21 neckline, it would target the 19.9-20 area which happens to be the 61% fib level of this entire run up

so as long as gdx holds above 21, I will continue to hold, failure means I will let my leverage position go for a chance to buy lower

https://s29.postimg.org/dvoiotyzr/gdx_01_03_2017.png

[ercchry]

The news today is blaming the weakness in commodities on the still strengthening USD... seem like they want to pop, but just can't catch a break

[SilverRex]

fantastic start in the metal sector to begin the year. once miners make a higher high I will be looking to unwind my leverage play. then wait for another pull back

[SilverRex]

cooper spiked today, that should bold well for fcx perhaps to start making some good moves.

gold finally produced a weekly swing high, another bullish confirmation. will be looking for gdx and gdxj to find a top to complete the 5 waves off the low. then a 3 wave correction.

will be looking to unload my jnug above 7-8
edit: not liking the action with gold up 5 bucks and miners are slightly down. (selling half of my Jnug) Yes perhaps there isnt enough buyers until they see the breakout and with miners near a major resistance area short sellers are piling up looking for a good trip down south.

[SilverRex]

despite gold still being up, miners are struggling, well it was rejected right off the multi month down trend line. short sellers are just refusing to give up the bullish sentiment.

the only question we have now is that has the correction started? and this is only a wave B up follow by wave C down to the 20 or slightly under?

either way I believe the bottom is in when gdx hit the 18s.

if gdx manages to breakout (bull trap) I will unload my leverage then wait for a pull back. but if it turns out the correction has started, then I will look to add to my position when gdx breaks towards 20

https://s30.postimg.org/ajvxammgh/gdx_01_04_2017.png

[SilverRex]

both fcx and biotech is looking good since the breakout move yesterday.

[SilverRex]

Originally posted by SilverRex
looking at the daily chart for gdx to start the week. as mentioned previously, i was expecting gdx to take a break at 22, sure enough it came crashing down after it hit slightly above 22. obvious reason is the down trend line that started this entire swoon. closing or breaking out from it would have been extremely bullish.

also on this chart, miners looks like there is only 3 waves up. which means, if the bottom is in and a multi week or even month up trend beings, then we need to see a 4th wave higher than 22.23

also notice how gdx is currently backtesting a previous neckline breakout. ideally i would want to see price continue to hold above this neckline until the next breakout.

the alt view is that somehow this pullback is already wave 2, and could stretch further down to the 20.4 and under 20 level. which i will gladly add more positions

https://s27.postimg.org/ac83f7m03/gdx_01_02_2017.png

dont forget this chart I posted yesterday. it is still possible miners could be consolidating in a triangle wave iv pattern still before a breakout occurs. But none of these variation change the fact that I believe the bottom is in and we are in a phase where any dip is a good buying opportunity.

[jacky4566]

Curious that Tesla stock is up 4% after the announcement of Faraday Futures FF91 last night. Figured it would have gone down.

I watched the entire announcement and despite the cringy presenters the car looked good to me. I doubt there will be a model on the ground till 2019 but some health competition in the EV market!

[Kloubek]

Originally posted by SilverRex
both fcx and biotech is looking good since the breakout move yesterday.

I have been eying biotech, and figured it was due for a rise. With your suggestion, I finally made the move yesterday. Great timing, and I'm currently up 11.7%. It just took a downturn the last few minutes, but I'm going to keep going and see what happens.

Anyway, thanks for confirming my own thoughts and encouraging me to make this trade.

[JustinL]

Originally posted by jacky4566
Curious that Tesla stock is up 4% after the announcement of Faraday Futures FF91 last night. Figured it would have gone down.

I watched the entire announcement and despite the cringy presenters the car looked good to me. I doubt there will be a model on the ground till 2019 but some health competition in the EV market!

I'm not sure that Faraday is more than just vaporware. I think it highlights the interest in electric and autonomous vehicles as a market and that is what is causing Tesla to pop. The FF91 (admittedly I haven't really researched it) has a lot of claims and not much to back it up. Worth keeping an eye on, but that's not a company I'd put money into.

[SilverRex]

ibb biotech after breaking out of the 275 major resistance zone. it has only completed 3 waves up. it looks as though it wants to retest the breakout around 275. I suspect this would be a good wave iv low follow by another wave higher.

But given the over all correction should be behind us, the current move is suppose to be a power ful one. exit at your own risk.

though personally I would draw the 270 area as the line in the sand and would question the rally shall price close below it.

https://s28.postimg.org/lnmvpkxa5/ibb_01_04_2017.png

[SilverRex]

FCX is hottt today

[ickyflex]

Any thoughts on why BTE may be lagging behind super hard these days?

[Kloubek]

I did actually exit LABU since I know how quickly it can drop. Got out at 35.80 for about a 12.5% gain when I saw the plateau. It did actually continue to slightly go up another percent or so afterwards, but I'm happy with the returns for now.

[SilverRex]

while gdx is more bullish than gdxj since it has move passed its previous swing high. but more or less both etf are on a new daily cycle up trend.

looking at gdxj, there is a confluence of over head major resistance ahead. couple the fact it is on it's 5th wave. a top could be perfect if we see miners gap up tomorrow.

i will be looking to sell at the top. even if miners suddenly collapse. it will be the same buy zone. either scenario i will be looking to buy back or double down with stops below the bottom in the buy zone

https://s23.postimg.org/jq0oecud7/gdxj_01_04_2017.png

[SilverRex]

so far gold is up after hours. lets see if it can hold up until tomorrow. i can use a gap up to unload the rest of my Jnug

update. gold making some strong moves here. despite dollar made a nice reversal after the Fed minutes today, it has given it all back and then some.

let see some short squeeze here

[SilverRex]

looks like gold has 5 waves up off the low today. not sure how much more upside left. a good chance miners could gap up but close red.

all eyes on the US dollar, if it can take out last week's low then gold might still have legs

[SilverRex]

normally its bed time, but im enjoying the show as you can see shorts are getting squeezed and gold is running all sell stop here.

[SilverRex]

dollar remains weak, gold still up. looks like we are getting our gap up this morning in the miners.

this could be a gap up runaway move (miners breaking out of the multi month down trend channel) or it could be a short term top.

timing exit is the hardest trading challenge for me. while i nailed the last one with at 22, cant be that lucky every single time.

that is why i dont touch my 70% core miners and will let them run for months. planning to let my last jnug go if it can hit close to 8

see my last gdxj charting, there is some major resistance in the 35 zone. makes for a good topping.

[SilverRex]

unloading my last jnug here at 7.75

[Disoblige]

Originally posted by SilverRex
unloading my last jnug here at 7.75
Nicely played sir

[SilverRex]

well I am quite surprised at the power this move has become. despite a host of resistance, gdxj looks as though it wants to punch right thru it all in one go.

while I sold my jnug, and still expect a topping around this area and looking for pull back down to 31 again. I cant help but need to know when market moves like this we need to adapt.

the uber bullish count if gdxj just punches upward with no reversal, we could be looking at a wave 3 move. the sharp pull back may already have been completed in this scenario we are looking at 38 gdxj in no time.

https://s23.postimg.org/i3augntfv/gdxj_01_05_2017.png

[SilverRex]

fcx on a tear.

looks like the call that the low 13s was the bottom has been quite good.

last hurdle before she really moves.

https://s24.postimg.org/79n693305/fcx_01_05_2017.png

[SilverRex]

going to try to play jdst here with tight stop to test my luck

[Disoblige]

Originally posted by SilverRex
going to try to play jdst here with tight stop to test my luck
Yeah, same thoughts here. Almost seems like the bulls are going up too fast. Dollar is tanking hard, wow.

[SilverRex]

jnug has returned over 122% since late December bottoming. how do you like them apples :nut:

[jacky4566]

Originally posted by SilverRex
jnug has returned over 122% since late December bottoming. how do you like them apples :nut:

I sold at 7.8 and it just keeps going!

[ercchry]

This gold rally is nuts! Every time it takes a pause I think "this is it, down she goes!" But then it just keeps climbing!!!

Sold my 19 strike on dgc that I bought last Friday for 90% gain... tossed a little into my 24 strike position that I bought back in November before gold really tumbled... it's moved 450% on the day, so worth it to average down since there is a real possibility it actually takes out 24 considering it hit over 21 today!

Will wait to reinvest the rest of my profits though

[SilverRex]

all thing hinges on the performance of the dollar. we now have 5 waves down. if the top is in (seeing there is negative divergence on the daily chart) then I would like to see the dollar make a dead cat bounce to back test the previous support breakdown. that would be a good place to reload miners/gold

seeing gdxj broke thru 35 convincingly, I would imagine this area would be a pretty solid support on first test.

so far the bullishness has opened up the scenario of gdxj at 38-39 so I will if I have the chance to rebuy jnug back to 7 or under.

btw, fcx looks like wave 4 correction is underway,


https://s28.postimg.org/lku80x9rh/dollar_01_05_2017.png

[SilverRex]

for fcx while I am expecting this pull back to be wave 4 follow by another wave higher. if price does not make a higher high and instead break 13.89 then this will bring back the possibility of seeing the low 12s to fill the last gap back on the table.

keep in mind tomorrow's job number could also create some opportunities.

[Kloubek]

Ok, I have a COMPLETELY noob question as it pertains to premarket and after market trading.

Because markets are closed, anything I submit in either instance doesn't actually end up in an actual buy until the market is open. (At least that is what RBC shows me, and it makes obvious sense) Is my request held in "queue", and then get filled in order of that queue after the market is open again?

And if that is the case, what is stopping me from cancelling a queued order if I see that the market didn't react as I was hoping? Seems such a buffer would provide a totally unfair advantage to trading outside regular hours. Why not then buy anything you think MIGHT go up as soon as trading closes, and if you see post and premarket didn't react as expected, just cancel the order?

[jacky4566]

investopedia has a better answer than I can give:

http://www.investopedia.com/ask/answers/05/saleafterhours.asp

You typically need to pay extra for after hours trading capability so unless your account has that function all your doing is queuing up trades to execute on open.

[ercchry]

Pre/post hours usually has crazy volatility due to the low volume... can be risky stuff, but I'm not really understanding your proposition. Either your order fills or it doesn't? I'm not too sure what foresight you are trying to gain? Or are you queuing up buys at market value and holding your breath?

[riander5]

Originally posted by SilverRex
unloading my last jnug here at 7.75

What was your ABP for your position?

[riander5]

ACtually NM saw your return, can make the calculation myself haha. Nice work sticking with the NUG

[ercchry]

Alright, I give up (Google isn't even helping) what is ABP?

[Kloubek]

Originally posted by jacky4566
investopedia has a better answer than I can give:

http://www.investopedia.com/ask/answers/05/saleafterhours.asp

You typically need to pay extra for after hours trading capability so unless your account has that function all your doing is queuing up trades to execute on open.

Actually, that last statement pretty much answers my question. I have not paid for anything, and given a previous attempt after hours it does indeed appear that it is just going to be submitted at open.

And yes Ercchry - I typically just do market value trades so far.

[ickyflex]

Oil back to green, BTE still trending down