Official Short-term Investments Thread

[SilverRex]

while gold looks like it is breaking out of a consolidation which is generally bullish, it is also struggling to follow thru.

considering last week, it has been not a very good sign that the miners are under performing and could signal a potential short term pause in this sector.

watch gold 1253.6, if this is taking out, I suspect more bearish selling will begin.

while gdx I am still looking at the 23.89 being the ultimate support. if she caves, I would then look for the 21-22 area to buy back.

https://s23.postimg.org/4xnjnr2jf/gold_02_27_2017.png

[J-hop]

Originally posted by J-hop


Yea looks pretty good. I was looking at this stock last night. My gut feel looking at the trends and trying my own Mickey Mouse calculations is by mid next week it will be back down around 11.5. Interested to see how this goes


Looks like it happened a bit earlier than I thought. Looks like LABD is tanking pretty good today unfortunately.

11.46 I think now

[riander5]

Piece of shit LABD - Every time XBI has entered overbought and reversed it had a nice steady decline, like the last 4 times. The one time i get into LABD... Damn you universe

[SilverRex]

nak/ndm.to

trying to anticipate if sub iii is starting. unless we are still in a sub iv down. I still track this because I have made money and re-entered 2 positions using just my profits. I waited patiently for the wave v drop under 1.8 which finally came to fruition, just sticking to my own plan.

https://s11.postimg.org/wjogq6m9v/nak_02_27_2017.png

[riander5]

Damn i should have got into NAK a few days ago!

[SilverRex]

Originally posted by riander5
Damn i should have got into NAK a few days ago!

dont fret, nothing is guaranteed. I have more confidence getting into GPL any price then nak at current levels. If you really wanted to get in, personally I would just buy half of your original intended position.

[J-hop]

Originally posted by riander5
Piece of shit LABD - Every time XBI has entered overbought and reversed it had a nice steady decline, like the last 4 times. The one time i get into LABD... Damn you universe

I think it might turn around later in the week. If I was playing this stock my plan would be to get in when it hits around 11.10 tomorrow (I'm guessing) and ride the correction back to 12 (I'm guessing around Thursday or Friday) then get out for a solid 8% or so. Not super great I guess but ok gain.

[riander5]

Originally posted by SilverRex


dont fret, nothing is guaranteed. I have more confidence getting into GPL any price then nak at current levels. If you really wanted to get in, personally I would just buy half of your original intended position.

Daily seems to be reversing out of oversold for both, so ill wait for a 4H and 1H oversold and a reversal situation to try and get into them

[riander5]

Originally posted by J-hop


I think it might turn around later in the week. If I was playing this stock my plan would be to get in when it hits around 11.10 tomorrow (I'm guessing) and ride the correction back to 12 (I'm guessing around Thursday or Friday) then get out for a solid 8% or so. Not super great I guess but ok gain.

I was up 12% on LABD already but expected XBI's downtrend to continue as its momentum was still just in the middle of the range. Also it still had a way to go before hitting a confirmed support trendline. Must be some biotech fundamentals f*cking things up in the middle of its correction

[SilverRex]

GPL earning report tonight.

look at the chart. ever since I sold half when it hit 2.2+ I have been waiting for a pull back to the 1.8 area.

so far a h&s neckline breakdown is targeting the same area.

I will see for the next few hours if I get a chance to re-enter or not

https://s15.postimg.org/nqza15zaz/gpl_02_27_2017.png

[SilverRex]

Originally posted by SilverRex
not much has changed.

I am going to anticipate the double reversal hammer is a A=C correction and wave 3 is about to start. bought Jnug low 10.25 stops under 10.00 if I get taken out and gdx closes below 23.89 then I will begin to favor the blue alt count which could target the 22s

either way I am still expecting any drop to be corrective in nature

https://s12.postimg.org/t1vwkz3gd/gdx_02_22_2017.png

looks like miners have broken key support. my break even stop has also been taking out. I will now wait for much lower prices as the ABC down to 22 area is a solid possibility

[J-hop]

Originally posted by riander5


I was up 12% on LABD already but expected XBI's downtrend to continue as its momentum was still just in the middle of the range. Also it still had a way to go before hitting a confirmed support trendline. Must be some biotech fundamentals f*cking things up in the middle of its correction

Yea something is going on. I haven't had a chance to check things out in the news, it's still falling.

[SilverRex]

GPL/gpr.to got into my buy zone. re-entering my previously sold position

[Disoblige]

Lesson learnt on JNUG, heh.
The risk reward definitely is not worth it anymore on it. It loves to tank any chance it gets and the stars pretty much need to align perfectly for it to gain anything worthwhile.

I'm done with JNUG.
I'm long gold, but bearish on leveraged miners.

[SilverRex]

Originally posted by Disoblige
Lesson learnt on JNUG, heh.
The risk reward definitely is not worth it anymore on it. It loves to tank any chance it gets and the stars pretty much need to align perfectly for it to gain anything worthwhile.

I'm done with JNUG.
I'm long gold, but bearish on leveraged miners.

if you are discipline enough and have a good entry./exit strategy. there is no harm. I have not lost any money in leverage in gold ever since it topped. Now I am actually excited that I finally get to see Jnug in the 7 range soon. which will be my first crack and getting back in.

the recent activity in this sector gave us a good heads up. As miner is leading. therefore I suspect miners will bottom first before gold does.

for the record the 50 and 61% fib level for gdx is in the 21 and 22. will be waiting for a bounce and one more sell off before I even think about trying

[bspot]

Originally posted by riander5
Piece of shit LABD - Every time XBI has entered overbought and reversed it had a nice steady decline, like the last 4 times. The one time i get into LABD... Damn you universe

I got out at the 38% retrace of the last XBI move up.

XBI made a higher high on the weekly for the first time since last September, so things are looking pretty bullish right now.

I like to book profits pretty quick when going counter-trend instead of trying to guess tops or bottoms. I lost enough money dicking around with that in the past. :rofl:

[SilverRex]

who remembers when I was pretty bullish on biotech as it was forming an ABCDE triangle pattern? not only did it breakout, it has I think close enough to call it a successful backtest of the breakout

general count on the stock market suggest it is in a final wave v of 3 move. a few weeks ago I was hoping as the stock market traces out a top, the miners would make a correctional wave 2 low before the big rally. it took a while, but I think it is all coming together.

https://s21.postimg.org/vzve6ezgn/xbi_02_27_2017.png

[riander5]

I was hoping XBI would come back down to test that resistance line... but then again triangles usually breakout around 2/3 to 3/4 of the way through so that makes sense.... Everything was going well with LABD until it wasnt haha.

Now i guess how early are we into this XBI upswing? Worth getting into LABU after missing this massive day?

[riander5]

Originally posted by bspot


I got out at the 38% retrace of the last XBI move up.

XBI made a higher high on the weekly for the first time since last September, so things are looking pretty bullish right now.

I like to book profits pretty quick when going counter-trend instead of trying to guess tops or bottoms. I lost enough money dicking around with that in the past. :rofl:

True, making 10-15% against the trend is probably a reasonable win, and then having your capital ready to jump in when the trend resumes. Ill learn my lesson someday haha

[riander5]

Can anyone explain to a gold newb why JNUG was pounded and JDST was huge today? Gold prices didnt seem to do anything?

[Kloubek]

Originally posted by riander5
Can anyone explain to a gold newb why JNUG was pounded?

My asshole is wondering the same thing.

[Vanish3d]

Originally posted by Kloubek


My asshole is wondering the same thing.

I've been burned way too many times with JNUG and JDST. The one thing I learned is don't ever go against the trend ! miners were looking weak for the last while and has been down more than up. Ride it down

picked up JDST yesterday at 15 and out at 16.2 just to watch it fly to 18. then put a market order this morning for JDST and got in at 16.85.

[J-hop]

I don't know, JDST looks like it's ready to tank?

Do both JDST and JNUG essentially track the average trend of a collection of gold mining companies x3?

[Vanish3d]

Originally posted by J-hop
I don't know, JDST looks like it's ready to tank?

Do both JDST and JNUG essentially track the average trend of a collection of gold mining companies x3?

They track GDXJ - one is up one is down
Don't pay attention to JNUG or JDST for technical. Look at GDXJ

[J-hop]

Originally posted by Vanish3d


They track GDXJ - one is up one is down
Don't pay attention to JNUG or JDST for technical. Look at GDXJ

Interesting. GDXJ seems to be below its 1 month and 1 year trends. I'd venture a guess that it's going to work it's way back up towards the trend in the next week. That would mean jnug would do well right? Just speculation I haven't looked at the volumes or other indicators yet though.


Edit: sorry not 5 year

Double edit: my predictions for GDXJ based on trends, Monday march 6 ~$42, Monday march 13 ~$43.5, Monday march 20 $45

[SilverRex]

for the longest time since January. I was waiting for gdx miners to drop back to the 21-22 area, when it never came about and instead continuously making new highs, it was very bullish and began to mirror 2016. keeping this in the back of mind, I never really wanted to jump into leverage knowing that if the 5 waves is in. the wave 2 pull back will be significant.

Well, after what happened yesterday, I can clearly say wave 2 has finally showed its ugly head and this helps define the EW counts putting 25.71 as the major wave (i) top.

right now I believe are in wave 3 of c of (ii) with a wave 4 bounce then wave 5 of C down to the 22 area and even possibly 21.

typical wave 2 correction often lands on the 61% fib level. So far price is finding support on the 38% and the extreme oversold from yesterday are causing some short term buying or covering from shorts.

personally I have enough invested that I dont really need to play the leverage side unless it has a low risk setup.

if wave 5 of C down do begin, something similar to how miners bottomed in December last year with a lower low and a rising RSI positive divergence, then I will start to scale in leverage.

can miners bottom and begin to rise aggressively? of course it can. it has met the min objective for a EW correction. but then again the count wont be as clear as it still requires one more solid wave down.

https://s15.postimg.org/lahc61iuz/gdx_02_28_2017.png

[SilverRex]

ccj. so far the 61% level at 11.11 is some what holding. it is possible the bottom could be in with a channel breakout (green circle), last week it was a false breakout that proceeded further selling pressure.

that is just the name of the game. no technical analysis offers 100% predictability, just highly likelihood scenarios to aid one's trading strategy.

This 10.90 area is now a must hold area. and if taken out, then I would go back to the last ccj chart I posted suggesting this stock (may even this sector) is onto some longer consolidation. ccj here would thereby open a target to 10.00 or even slightly lower.

In this scenario I would consider adding another tranche. until then, I am fine holding a 5% stake until this correction ends and a bigger and more powerful up leg begins.

https://s30.postimg.org/tztua9w4h/ccj_02_28_2017.png

[SilverRex]

fcx

ever since it took out my stop on my 3rd position at 14.97 I have since been wanting to buy back in the 12s for the wave C bottom projection.

so far it is looking good and count wise it does look like it has one more wave lower. I will attempt to buy back my 3rd position if I see the mid 12s

mind you from an EW rule. there is always the possibility that wave V could be truncated. meaning it does not always have to make a new low.

I already have two position in the low 13s. so I would only be enticed to add to my position if I see a lower price.

those who have no position and wanting to get in. I think 13s is a good starting position anyways.

the same with natgas. I opened 1 position when it hit 2.7, even knowing it can hit the next major support at 2.44, so far natgas is still having difficulty recapturing above 2.7 , if it does, then maybe we wont see 2.44 at all, it got close (2.54)

no one gets perfect timing and I now have fully learn this core lesson whereby in any investment I only scale in multi positions. Generally 3 position max

key is also not to buy when price is at the top of the range opening yourself for pretty serious financial damage if prices gets crushed. My 3 position scaling in will usually only begin when price have fallen some what significant and using EW for timing entries. The success of the trade increases dramatically.

https://s10.postimg.org/z2gd6xcax/fcx_02_28_2017.png

[riander5]

What are you trading for your Ngas?

[Kloubek]

Woo hoo. Look at gold tumble $10 in the last 10 minutes. Jung started out up around 13% and is even as I type this. Crazy.

[SilverRex]

Trump is due to speak to congress tonight. we will see what he can do

[bspot]

I hope he crushes gold. I want in.

[SilverRex]

Originally posted by bspot
I hope he crushes gold. I want in.

same here, my eyes are set on the 21-22 level for gdx

then again over all I think the next big movement may be in the silver play. so silver shares, SLV and SIL alike may be the better play long term

[SilverRex]

going to start my first tranche in jnug at 7.15 this morning, next tranche will be in the low 6s

[J-hop]

Originally posted by SilverRex
going to start my first tranche in jnug at 7.15 this morning, next tranche will be in the low 6s

Stupid question but google wasn't very illuminating. What does tranche mean in this context?

Still havenr got my real trading account set up so playing virtually right now. LABD and JNUG are what I'm going for. Did a bunch of work last night on GDXJ and I think it will be heading back up late this week/early next week.

[Vanish3d]

Into JDST at 18.3 lol

[secol]

tranche means a slice or a piece, in this context it kind of means a position. so silverrex bought a bunch of jnug at 7.15 with the expectation of adding more in the low 6s if it drops further

[SilverRex]

GPL

looks like it is in it's final wave v of V of C in progress. I have already bought back my position and expecting the bottom is very near

https://s22.postimg.org/ttg0885wx/gpl_03_01_2017.png

[SilverRex]

Originally posted by J-hop


Stupid question but google wasn't very illuminating. What does tranche mean in this context?

Still havenr got my real trading account set up so playing virtually right now. LABD and JNUG are what I'm going for. Did a bunch of work last night on GDXJ and I think it will be heading back up late this week/early next week.

to me, its just another word for a position

[SilverRex]

gdx

I was waiting for a lower low and got it this morning opening my first position in Jnug. while the expected range is to see gdx fall further towards 21 which is the 61% area would be the ideal correctional low. (red count)

I also like to give myself a bit of a head start on the move. considering we have a clear 5 waves down in orange. there is also a good chance miners can bottom here. If this plays out, I have 1 position, if the red path plays out I will have an opportunity to add to my position. That is my strategy

if the orange plays out and miners are trying to put in or have put in a bottom, we need to see price recapture above 23. hence confirmation c#1, closing above c#2 would be like the nail in the coffin and increases the chance of the bottom being legit.

rising positive divergence is often what I like to see on all my entries.

https://s17.postimg.org/wy41ebmcf/gdx_03_01_2017.png

[SilverRex]

fcx big picture count

1-2, 1-2, doesnt get any prettier with the next move target into the 20-24 area once the bottom comes in.

on the macro level, there is supposed to be 1 more wave down into the 12s to test the rising channel.

but I suspect, it is possible, we may have had a truncated wave v a few days ago. so I have decided to re-enter my 3rd position with stop to see if this is the case.

https://s12.postimg.org/z42ubjvbh/fcx_big_picture.png

[jacky4566]

Anyone trading Natgas? Look at the one hour is a double bottom to me so a reversal should be in order.

[Manhattan]

whats the outlook on oil? we're getting to a seasonal strong time for it. was hoping it would dip below 50 but its looking less and less likely unless some bad news shocks the market again. everyone that wants to be out of oil is out. :dunno:

[SilverRex]

fcx micro count.

there is the possibility as I mention of a truncated wave (v) being formed on Feb 27 when it hit 13.18, I now suspect a new leg may have begun. so long 13.56 holds my stop is below this

then this count remains valid

https://s12.postimg.org/92l99rigt/fcx_truncated.png

[SilverRex]

Originally posted by Manhattan
whats the outlook on oil? we're getting to a seasonal strong time for it. was hoping it would dip below 50 but its looking less and less likely unless some bad news shocks the market again. everyone that wants to be out of oil is out. :dunno:

over all I still believe in oil eventually reaching 60-75 dollars this year. so long oil does not break below 47.

cant rule out a drop to 47 can still happen but so far oil is holding well. and if the stock market continues to make new high, it may end up dragging oil to 60 instead of oil dragging the stock market down.

at least looking at energy shares like BTE, it looks like a good setup. back in January, I was expect price to make a new low, well it did make a new low breaking last year's low but quickly found support.

so I am giving it a 1-2 ready to launch shall oil close above 55

https://s2.postimg.org/5sfqof1eh/bte_03_01_2017.png

[BavarianBeast]

The us oil inventory numbers should help oil continue to push higher.

[SilverRex]

so far so good. the position I took on Jnug at 7.15 is starting to look ok. first confirmation coming up, gdx needs to take out 23 follow by 23.4 then I will move my stop to break even

gpl also looking like the bottom is in

[SilverRex]

gdx broke 23, next up 23.4

[riander5]

In cases where you appear to have put your first tranche in at or near the bottom, do you still scale in as it goes higher?

[bspot]

Originally posted by riander5
In cases where you appear to have put your first tranche in at or near the bottom, do you still scale in as it goes higher?

I have the same problem right now. My JNUG position is rather small.

I don't love chasing leverage up, and usually buy a small cap stock I like in the same industry.

The theory being, if JNUG takes a big dump, I'll convert other miners to leverage and end up with a position size I'm happy with.

Adding on the way up can just clear out any ammo you have for an unexpected swing low.

If it is trading near the bottom of an established channel and at a 61.8% fib retrace and some negative divergence on other indicators, then I will sometimes jump in with a larger position immediately.

In my opinion, it's better to watch a smaller position run up then see a larger position crater and be out of risk tolerance or capital to average down.

[riander5]

Originally posted by bspot


I have the same problem right now. My JNUG position is rather small.

I don't love chasing leverage up, and usually buy a small cap stock I like in the same industry.

The theory being, if JNUG takes a big dump, I'll convert other miners to leverage and end up with a position size I'm happy with.

Adding on the way up can just clear out any ammo you have for an unexpected swing low.

If it is trading near the bottom of an established channel and at a 61.8% fib retrace and some negative divergence on other indicators, then I will sometimes jump in with a larger position immediately.

In my opinion, it's better to watch a smaller position run up then see a larger position crater and be out of risk tolerance or capital to average down.

This is a good point, a win is a win even if it is for a smaller position than you might want.

[SilverRex]

Originally posted by riander5


This is a good point, a win is a win even if it is for a smaller position than you might want.

dont forget if you are playing the 3x leverage it is essentially like holding 3 regular position for every 1 position you have in it.

if I end up scaling in with 3 leverage position I will take profits sooner, but with 1 I may just try to hold it longer or if I suspect it is near a top namely at the end of 5 waves of any EW structure.

[Disoblige]

I feel the opposite. A lot of my decent sized wins were because I averaged up and went with the trend with tight stops. This was in cases where I mitigated risk of trying to catch the falling knife and missed a little bit on initial profits but still gained from the swing up.

[jdmXSI]

Anyone concerned about JNUG having 4 to 1 reverse split on May 1st? I believe there are 15 ETF's that will either go through a reverse or forward split that day. Good, Bad , Neither?

[SilverRex]

Originally posted by jdmXSI
Anyone concerned about JNUG having 4 to 1 reverse split on May 1st? I believe there are 15 ETF's that will either go through a reverse or forward split that day. Good, Bad , Neither?

personally i dont think it is any concern, these leveraged etf always gets reverse or forward splits because they cannot go to zero. the only downside from my own experience is that there is a couple of days depending on your broker that you may be caught with the inability to settle until your new shares are issued.

so if you are a day trader, it may be wise to not have any position during the share adjustment.

[Vanish3d]

so much for the pop yesterday, looks like gold/miners will continue down

[J-hop]

Originally posted by Vanish3d
so much for the pop yesterday, looks like gold/miners will continue down

Yea will be interesting to see, I have them continuing on the upward trend. They are below the long wavelength trend and following fairly close to a short wavelength trend heading back towards the long term trend so far.

[SilverRex]

yesterday miners were on the top SoS list, highly chance for a down day after a strong run up. gdx never broke above 23.4 or 23.42 actually to confirm that bottom being in. so the verdict is still out. for the time being, gold made a lower low but miners made a higher low, so far a good divergence, something clearly was missing in the last few weeks leading up to the massive sell off.

I will move my stop to break even. if it takes me out then I will wait to buy back in the 6s

natgas I am getting out near break even in the 2.7 area, it is unable to break above and sustain above 2.7 to confirm the low at 2.54 and so the chance that it will visit the 61% level at 2.44 is starting to look more probable. may buy back also as she drops.

[SilverRex]

Gold
has anyone given the possibility in a scenario where price will just continue to move 2 steps forward and 1 step back. a slow and steady climb with no major pop nor major sell off?

first why I say this.

1. gold hardly made any head lines dropping from 1259 to 123x yet miners appears to be producing the classic wave c of 2 low.

2. silver is even more so with hardly any pause or major setback. And we all should know by now as volatile as silver is, if no one takes down silver, then no one should panic

3. on the backs of a strong US dollar which would have been the biggest reason for gold to make a sub 1k push. this never happened. so something clearly is holding the metal prices. If a new high in the US dollar couldnt bring gold down to its knees, then what can?

4. I do believe we are now in the period where finally all fiat currency will be abandon in the name of everything else. The world has come to grip that pretty much you can put your money into any asset classes and prosper but currency itself. sure the US dollar will be the last to fall but even it will have a hard time making new highs, I think USD would be range bound due to this.

So we need to adapt for this possibility that gold/silver could just continue to step up gradually over time perhaps even for months and years until the final stages which would be a parabolic shot at the moon that will bring an end to the financial system resulting in some form of monetary reset.

[Disoblige]

And by that time, leveraged miners would have reverse split 5-10 times, lol.

As I said before, I'm long gold, bearish miners.

[Vanish3d]

JDST giving me wood :eek:
we'll see if my order fills at 20.00

[bigbadboss101]

Originally posted by Vanish3d
JDST giving me wood :eek:
we'll see if my order fills at 20.00

Might get there today yet!

[riander5]

Originally posted by SilverRex
yesterday miners were on the top SoS list, highly chance for a down day after a strong run up. gdx never broke above 23.4 or 23.42 actually to confirm that bottom being in. so the verdict is still out. for the time being, gold made a lower low but miners made a higher low, so far a good divergence, something clearly was missing in the last few weeks leading up to the massive sell off.

I will move my stop to break even. if it takes me out then I will wait to buy back in the 6s

natgas I am getting out near break even in the 2.7 area, it is unable to break above and sustain above 2.7 to confirm the low at 2.54 and so the chance that it will visit the 61% level at 2.44 is starting to look more probable. may buy back also as she drops.

GDX has to hold somewhere around 21 or im bailing and will definitely claim the sky is falling

[bspot]

Stopped out of JNUG for a small loss.

I set a limit buy for 6.21 on JNUG. Trying to get in just before the 61.8 retrace of the last leg up.

[SilverRex]

looks like it was indeed still the wave v of C of (ii) in progress targeting the low 21 on gdx.

my stop was taken out. will be buying back in the mid 6s, perhaps another position if I see the low 21s when it hits the 61%

note 22.14 (50%) 21.3 (61%)

also a clear 5 waves down being developed on the miners.

there is also a hurst cycle pointing to a turn on March 3-5 so very fitting for miners to find a bottom between now and monday.

[SilverRex]

Originally posted by SilverRex
gdx

I was waiting for a lower low and got it this morning opening my first position in Jnug. while the expected range is to see gdx fall further towards 21 which is the 61% area would be the ideal correctional low. (red count)

I also like to give myself a bit of a head start on the move. considering we have a clear 5 waves down in orange. there is also a good chance miners can bottom here. If this plays out, I have 1 position, if the red path plays out I will have an opportunity to add to my position. That is my strategy

if the orange plays out and miners are trying to put in or have put in a bottom, we need to see price recapture above 23. hence confirmation c#1, closing above c#2 would be like the nail in the coffin and increases the chance of the bottom being legit.

rising positive divergence is often what I like to see on all my entries.

https://s17.postimg.org/wy41ebmcf/gdx_03_01_2017.png

so the red path is clearly under way. yesterday was the wave 4 bounce in red. it could not confirm and take out c#2.

reentering 1 position back in Jnug 6.69, next one if gdx can touch the 21.3-21.5 level

[Vanish3d]

Originally posted by bigbadboss101


Might get there today yet!

screw it, got out at 19.65. Happy to be out. Now i'll sit and watch where it goes and maybe consider JNUG

[J-hop]

Originally posted by Vanish3d
so much for the pop yesterday, looks like gold/miners will continue down

Haha crap, yea JNUG is taking a bath!

[riander5]

Originally posted by SilverRex


so the red path is clearly under way. yesterday was the wave 4 bounce in red. it could not confirm and take out c#2.

reentering 1 position back in Jnug 6.69, next one if gdx can touch the 21.3-21.5 level

You going for GPL and NAK? I have a good position in GPL and it did bounce hard off that 50% retrace... if NAK can hold here at its 62% retrace I might enter them as well.

My Jnug position is larger than both though, but if GDX blows through its 62% retrace im out

[SilverRex]

Originally posted by riander5


You going for GPL and NAK? I have a good position in GPL and it did bounce hard off that 50% retrace... if NAK can hold here at its 62% retrace I might enter them as well.

My Jnug position is larger than both though, but if GDX blows through its 62% retrace im out

I have a position in both. Nak is all profit now so I am not too worried but it does have more risk than GPL. NAK count wise can move down to 0.6-1.15 area so just keep that in mind

GPL I was able to swing trade half my position for about a 12% gain. just going to hold on to them until they start breaking out as in holding them for medium term.

[riander5]

Originally posted by SilverRex


I have a position in both. Nak is all profit now so I am not too worried but it does have more risk than GPL. NAK count wise can move down to 0.6-1.15 area so just keep that in mind

GPL I was able to swing trade half my position for about a 12% gain. just going to hold on to them until they start breaking out as in holding them for medium term.

0.6 - 1.15 - you must be doing some kind of different count. One thing I agree on is it looks like this correction has only found wave A, so if it does complete ABC this could forsure drop lower...

GPL is the safer play id say

[Disoblige]

Bitcoin is worth more than physical gold, wow.

[riander5]

Originally posted by Disoblige
Bitcoin is worth more than physical gold, wow.

Per ounce of bitcoin

[BavarianBeast]

lol @ snap IPO.

Not what I had predicted.

[bspot]

Taking another stab at LABD. Wish I was paying more damn attention this morning, XBI up in an old area of resistance and overbought.

[bspot]

Originally posted by bspot
Stopped out of JNUG for a small loss.

I set a limit buy for 6.21 on JNUG. Trying to get in just before the 61.8 retrace of the last leg up.

Missed by 1 GD penny :banghead:

Went chasing at 6.50.

[riander5]

Originally posted by BavarianBeast
lol @ snap IPO.

Not what I had predicted.

I didnt even know it was IPOing

Fack

[bigbadboss101]

JNUG buying opportunity soon! ;)

[SilverRex]

Originally posted by bigbadboss101
JNUG buying opportunity soon! ;)

yup waiting for gdx to hit the 61% area around 21.3

[SilverRex]

fcx looks like its wave v of C in progress, whether it bottoms here or with just a bit more to go. once it breaks above 14 then I think the correction would be in.

[SilverRex]

you know miners are trying to bottom when gold remains down 7 dollars and the sector is green.

there is a hurst cycle suggesting bottom between march 3-5.

also miner lead gold on the sell off and so it too will lead the metals to bottom first on the next up move

[riander5]

Originally posted by SilverRex
you know miners are trying to bottom when gold remains down 7 dollars and the sector is green.

there is a hurst cycle suggesting bottom between march 3-5.

also miner lead gold on the sell off and so it too will lead the metals to bottom first on the next up move

I sure as fuck hope so!!

[jdmXSI]

Originally posted by riander5


I sure as fuck hope so!!

same here...

[riander5]

1H, 4H, 1D all oversold, only bad sign is we just topped out on weekly OB....

But really if we dont pop from those previous four being oversold as well as the fib retrace levels its hitting, well then fuck me sideways.

[Disoblige]

Yellen speaketh, and miners going crazy right now.

[SilverRex]

picked up a 2nd position at 5.90. leaving my 3rd order if we do see gdx at 21.3 at some pt

[Disoblige]

Originally posted by SilverRex
picked up a 2nd position at 5.90.
Nice entry!

The last 10 minute price action was just insane.

[SilverRex]

Originally posted by Disoblige

Nice entry!

The last 10 minute price action was just insane.

my limit order at 5.49 never triggered. been waiting all morning, but I do feel a bit optimistic given the miners hasnt been taking to the wood shed with gold being down 10 dollars.

normally my 3rd position would be applied in case of an over shoot (gdx under 21.3), anyways even I run out of patience some times.

-we not out of the woods yet, gold needs to get back above 1230 to gain any momentum. technically remains bearish.

despite the strong reversal candle looks promising, the flip side to this is that many stops will be under it. So if price breaks a new low since Yellen's speech, it could trigger more stops resulting in a rapid descend.

contemplating putting a stop under 5.84

[SilverRex]

dollar big picture. how often do you see a negative divergence being formed. I think even if the short term dollar can still make 1 last wave up above 104. medium to longer term it is setting up for a pretty significant decline if you ask me.

which would push everything up

https://s18.postimg.org/civr93o5l/dollar_divergencve.png

[Disoblige]

Pop ;)
1233 support attempt, hopefully.

Edit: Boom, 1233 support and more :thumbsup:

[slick2404]

Curious to know who is everyone using as a broker and for level 2 data? Currently using QuestTrade IQ Software and its meh.

[troyl]

Originally posted by slick2404
Curious to know who is everyone using as a broker and for level 2 data? Currently using QuestTrade IQ Software and its meh.

I use RBC DI they have level II data. Haven't had any issues, other than the occasional outage.

Level II may only be provided based on account size or activity, not sure.

[Vanish3d]

That was a nice ride from 6 - 6.85. I'm out !

[J-hop]

Originally posted by Vanish3d
That was a nice ride from 6 - 6.85. I'm out !

Nice work, yea JDST was killing it yesterday. JNUG is clawing back today after I think I saw a 20% loss yesterday at one point on my virtual account.

[SilverRex]

getting rid of my 6.69 position at 6.9 to reduce risk at this level. will ride out my 5.9 if this rally turns into something big. but if it doesnt, I have more ammo for that elusive gdx 21.3 area

edit: massive record volume on Jnug. wondering if this means anything

[riander5]

Originally posted by J-hop


Nice work, yea JDST was killing it yesterday. JNUG is clawing back today after I think I saw a 20% loss yesterday at one point on my virtual account.

Virtual account... i wish thats what my losses were

With a few buys today though im up 5% on my position now.. ready for the momentum to swing!

[J-hop]

Originally posted by riander5


Virtual account... i wish thats what my losses were

With a few buys today though im up 5% on my position now.. ready for the momentum to swing!


Haha yea I'll be joining the fun soon enough. whole buying a house and new car thing put a damper on any sort of high risk stock investing until this year.

[bspot]

Was on the road today and super pumped to see my limit buy on JNUG filled at 5.85.

Nothing like seeing a big reversal take place and wondering if you owned any and being pleasantly surprised.

[SilverRex]

from an article The Coming Great Wealth Transfer

The formula for Financial Repression works like this:

Step 1: A government (or an entire nation) gets into trouble by borrowing too much.
Step 2: Rather than pay this debt down honestly via cutting spending (unpopular) or by defaulting (even more unpopular), the government conspires with the central bank to slowly liquidate its stack of obligations by forcing negative real interest rates on everyone -- that's when you get paid less in interest than the current rate of inflation. So if you're getting 0% on your savings, but annual price inflation for the things you need to live is more like 5% (sound familiar?), you lose.
Step 3: But there’s a problem. Negative interest rates don’t work if people can dodge the Financial Repression by parking their money safely elsewhere. So a ring fence has to be built -- using capital controls and explicit interest rate caps on and across the whole spectrum of interest-bearing securities. Nobody can be allowed access to investments offering positive interest rates. And to prevent people from simply hiding their wealth under their mattresses, cash can be outlawed. (This is what the "war on cash" and the talk of moving to a "cashless society" is really about)
Step 4: Sit back and watch with glee as everyone with savings silently and steadily has their purchasing power transferred to the debtors, be those public or private entities. You see, lower real interest rates not only reduce the government's costs of servicing its debts, but they erode the real value the debts themselves. The government is deliberately killing the value of the money we've worked hard to earn and save, for the sole purpose of avoiding the consequences of its reckless borrowing. They get a hall pass; we get screwed.

[SilverRex]

after 5 waves up on gold as well as gdx. it was expected a wave 2 pull back. gold's 61% is at 1228 while gdx has already hit theirs at 21.9.

will see if last week's low was the bottom. if not, I will be buying when gdx hits 21-21.3