Official Short-term Investments Thread

[riander5]

Blew past last weeks low. When will this god damn thing bottom

[SilverRex]

gdx 21.3 61% level coming right up.. getting ready to buy back the position I sold last week at 6.9

update. picked up my 2nd position at Jnug 5.39, gdx hasnt hit 21.3 exactly yet, I suppose it is close enough for me.

now I just wait.

I have 1 more position left to use if it over shoots.

[Disoblige]

From what I learned in September, I'm not sure if the market ever fully 100% prices in a rate hike. I could wait until the day of and still get in at a similar or lower price. My biggest regret in September was getting in too early at the anticipation of no rate hike, so this time around I feel the same on the anticipation of a rate hike.

[SilverRex]

fcx

fcx finally moved into the sweet spot of the 12s. I have 3 position averaging the low 13s. will just hold this for a couple of months.

it is very possible the low could be in today. yet I can also count this as an extended wave 3 down with yet one more bounce and a lower low. either scenario means fcx should be finding a bottom some where around current levels. over all upside target remains unchanged at 20-24

https://s28.postimg.org/iku0lloz1/fcx_03_06_2017.png

[Vanish3d]

Taking a stab at JNUG at 5.5
let's see if we can catch 6 again today

[SilverRex]

gdx

still holding onto my original count that this is a sub 2 correction after a strong move off the December low.

if wave 3 is to begin. gdx must find support in the 21-21.3 area. (blue box) this is the 61% fib retracement that is typical in a wave 2 pull back.

If price move below this area without any recovery, this will open an alt count towards a lower low under last year's december low.

over all I do not believe price will break the january low set in 2016. namely because the drop from August to December in 2016 was corrective in nature with over lapping waves. Hence even if we are still in a bear market, price will still need to make a higher high denoted in red ABC getting back above 30.

for the short term, how gdx reacts in the low 21s will be telling.

https://s15.postimg.org/h3xjykkjf/gdx_03_06_2017.png

[SilverRex]

we are essentially here with gdx hitting it's 61%, if there is a big turn coming, miners need to start leading. even if gold makes lower lows, miners need to make higher highs

edit: so far miners have 5 mini waves up and 3 down, and sub wave 3 breakout...lets go

[riander5]

What the fuck just happened to miners that caused a 8% pop in JNUG

[SilverRex]

Originally posted by riander5
What the fuck just happened to miners that caused a 8% pop in JNUG

hopefully its not too soon in saying this, but this is the type of action we need to see at a very critical level

[riander5]

Hopefully not, ill re enter Jnug if it confirms this up move with another positive day tomorrow... set my SL at todays low

[SilverRex]

gold is lower than yesterday and gdx is higher than yesterday. a good development.

so far sub 3 is testing some key down resistance line. hoping it can break out over this

21.55 is now key support

https://s14.postimg.org/6f4mv8l5d/gdx_03_07_2017.png

[bspot]

SilverRex (or anyone else), you always seem way better at unwinding your positions than me, so if you don't mind sharing some tips, that would be stellar.

My current situation is I have 3 positions on JNUG. 2 is the most I ever like to hold for more than a few days.

My buys are 5.40, 5.85 and 6.50.

[SilverRex]

Originally posted by bspot
SilverRex (or anyone else), you always seem way better at unwinding your positions than me, so if you don't mind sharing some tips, that would be stellar.

My current situation is I have 3 positions on JNUG. 2 is the most I ever like to hold for more than a few days.

My buys are 5.40, 5.85 and 6.50.

well it really depends. but if you are like me and holding 3 position is your max exposure. then you ask your self, how much are you willing to risk. if your position sizes are large, I would say put some stops beneath them.

based on today's action. gdx support is 21.55 this must hold (or at least until it can produce another wave higher to complete 5 waves)

once 5 waves are done, price should in theory retrace the move back to the current level so 21.55 should be relatively a safe place to set your stops. And hopefully if there is a wave 5, it will be high enough or even with extensions that the 61% correction does not come close in touching the 21.55 level, then this makes it even a no brainer

[riander5]

Originally posted by bspot
SilverRex (or anyone else), you always seem way better at unwinding your positions than me, so if you don't mind sharing some tips, that would be stellar.

My current situation is I have 3 positions on JNUG. 2 is the most I ever like to hold for more than a few days.

My buys are 5.40, 5.85 and 6.50.

I like to think of my positions in terms of at least sets of 2

First set (say half) unload when you have a reasonable profit (10-15% for me), or maybe at a fib level (38 or 62 of the advancement)

Second set you leave incase the market runs away, setting either a trailing stop or progressing your own stops.

Never take yourself out of a profitable trade, let the market do it!

Edit: spelling

[SilverRex]

gdxj has more room to wiggle, yet gdx is already near that support. but I have set a stop under 5.57 jnug on one of my position

update: GDX is on the cusp of that key support. maybe 2.51 is also possible given the count isnt as clear as gdxj.

I wont get excited until it gives us 5 waves up. (still just 3 waves off the low today)

[riander5]

Side note : Back in LABD

If this wasnt a completion of 5 waves on XBI then ill be damned

[SilverRex]

sweet mother. gdx bounced off 21.56, talk about how close can you get?

come on, I want to see gdx make a higher high over 21.80

update: gdx couldnt muster enough to break 21.80, now has broken the sub wave i suggesting this entire rally today is corrective in nature.

gdxj has not broken it's support yet. I will just leave my stop loss in place.

now we will see if gdx wants to make 1 lower low or not. or would it be a technical shake out.

someone I have been talking to suggest gdx needs to make 1 more lower low to complete an ending diagonal grinding of a 5th wave.

[Vanish3d]

man the swings are unbareable
lost so much cash last couple of days playing both JNUG and JDST and getting it wrong every time...

guess thats why you don't play both

[riander5]

Originally posted by Vanish3d
man the swings are unbareable
lost so much cash last couple of days playing both JNUG and JDST and getting it wrong every time...

guess thats why you don't play both

Well you should play both but you need a strategy for each. I couldnt see anyone entering JDST at this point.... only holding if you were in it 3 weeks ago haha

[Vanish3d]

Originally posted by riander5


Well you should play both but you need a strategy for each. I couldnt see anyone entering JDST at this point.... only holding if you were in it 3 weeks ago haha

I day trade - as in I rarely hold overnight.

[bspot]

Well instead of dicking around thinking about it, looks like I really should have unloaded a position at 6. Whoops.

[riander5]

Originally posted by Vanish3d


I day trade - as in I rarely hold overnight.

Whats your strategy? Looks like just following 1H RSI signals would have worked well over the last few days?

[Disoblige]

Originally posted by Vanish3d
man the swings are unbareable
lost so much cash last couple of days playing both JNUG and JDST and getting it wrong every time...

guess thats why you don't play both
Nothing wrong with playing both as long as you either:

1) exit on lost of support (stop loss)
2) hedge
3) have a enough small position so you're not worried if it tanks (risk management)

[SilverRex]

some impulsive action off the low for uranium today. this sector's correction could very well be coming or nearing the end

[SilverRex]

ok

just wanted to take a step back and look at the big picture.

first rate hikes.

as you can see despite short term volatility, rate hikes has been great for gold and miners. we need more of them. Sure the anticipation for the next hike would trigger profit taking and a correction, but post hike, what ever happens in the background seems to support the sector.

had there not been a march hike, miners would have continue on up like 2016.

https://s21.postimg.org/3snp4m7tj/rate_hikes.png

[SilverRex]

next is gold chart.

this is my current count. to me, it appears we have a text book running or expanded flat correction. all the waves so far are dead on. sure no pattern is 100% guaranteed but I am liking what I see

https://s11.postimg.org/daha5vzr7/gold_03_07_2017.png

[SilverRex]

despite gold producting two intraday lower lows. miner did not follow. a good sign in deed.

cheering for gdxj to remain green while gold is down 10 dollars.

update: so far gdxj and jnug is breaking out Ro4 rule. on a double digit gold down day is very impressive

[Vanish3d]

Looks like Natgas broke out, then dropped to test the breakout line, then bounced again. Are we about to start another massive climb to UGAZ 50+?

[SilverRex]

Originally posted by Vanish3d
Looks like Natgas broke out, then dropped to test the breakout line, then bounced again. Are we about to start another massive climb to UGAZ 50+?

my sweet spot is 2.44 but given the action of late. it is possible the bottom may be in. and from a bullish EW count I have been following, it may be ready to make a big move to the upside.

the only question is has the bottom formed at 2.6? or do we have one more lower low to go.

with the descending wedge pattern I Think if natgas can break above 2.9 (which means it has 5 mini waves up) then it will support the case the bottom being in.

https://s13.postimg.org/rluhwlnc7/natgas_03_08_2017.png

[littledan]

Mmj stocks getting murdered this morn

[SilverRex]

based on how miners are doing with yet another take down in gold prices. I feel the bottom is quite near. We either have one more drop towards gdx 21 and may even break it temporary or we go up from strongly and make a 1-2 pull back during NFP release.

I am getting back in my 2nd position jnug 5.50 after it took out my stop loss yesterday. Will leave one more position if gdx breaks 21 to catch an undercut low this week.

[SilverRex]

nak also bounced off the 1.15 area strongly. these counts and targets are no joke. still holding my position no change here.

gpl remains in the buy zone. cant rule out any fake break down towards 1.6, but it has met all criteria in a correction. still expecting an eventual breakout above 2.25

Uranium correction may also be over and ccj/cco is now reacting and starting to climb. final confirmation is when you see ccj break above 12.4

[SilverRex]

Nak

as you can see, price indeed went after the previous wave 3/4 range of 0.6-1.15 and so far price has rallied off the top end of the range which has met the minimum requirement for this move.

to me, it is all profit so no risk for me to hold it for the potential. Price has made a clear 5th wave of V down landned perfectly on the 200EMA on a rising RSI divergence.

the alt scenario is this entire sell of being wave (A) down, then wave (B) will at least make a back test towards 2.00 still a profitable trade to me

short term confirmation, would like to see price break above 1.37 to produce a swing low

https://s29.postimg.org/kj395s4vb/nak_03_08_2017.png

[SilverRex]

gpl

ever since gpl hit 2.20 which I sold half of my position. the expected pull back was completely fulfilled and then some. a descending wedge or ED pattern in play. I think any panic drop below wave e is just a gift. now waiting patiently for an upside breakout preferably closing above 1.8

https://s1.postimg.org/blw0mmmkf/gpl_03_08_2017.png

[bspot]

Oil took a seat on the toilet. Looks like it brought its laptop and plans on staying for a while.

[riander5]

If Jnug can close above yesterdays high and confirm a trend change im in. Will set my stop around yesterdays low prob.... 5.30 or so

[SilverRex]

Originally posted by bspot
Oil took a seat on the toilet. Looks like it brought its laptop and plans on staying for a while.

I have been cautious on oil and suggested oil needed to really break above 55 right away, the fact that it didn't and continue to move side ways was just going to be trouble ahead. Couple the fact COT are at record short position at least that is what I hear from those following it.

I might take a stab at oil if it can get close to 47 dollars. but that will be the line in the sand, if oil takes out 47 during this suppose correction, then bigger stake is at hand.

there is a bearish count pointing to a lower low under 26 and this entire rally is just another counter trend wave 4 move.

I will begin to support this count if oil takes out 47, otherwise there is no reason for oil to drop this low after having to finally break out above 52 with a invert head and shoulder targeting the 65-75 area.

[riander5]

Originally posted by littledan
Mmj stocks getting murdered this morn

You know why? Maybe this is a good entry prior to 4-20

[ercchry]

Originally posted by riander5


You know why? Maybe this is a good entry prior to 4-20

With how leaky the government can be I wouldn't be surprised if they are buttoning up what they will be announcing and it's either not good... or not enough barriers to entry that the value of these current players will dive

[secol]

nice bounce back today so far on the green stuff. my opinion is that it was an overreaction. typically when big selloffs like that occur, the bulls come back in and buy the dip pretty strongly.

[SilverRex]

fcx

over all we have 5 waves down and imo this 5th wave of V of ii should be ending this week. with a rising RSI divergence and it backtested the previous neckline breakout. this would make a very good area to bottom.

the 61% level is at 11.98 so keep this in mind.

would like to see a strong bounce out of this area in the coming days if not today if we are to maintain this bullish 1-2, 1-2 setup

https://s1.postimg.org/dxvzzx2f3/fcx_03_09_2017.png

[SilverRex]

oil

back in early February, I was expecting oil to make one more move below 50 to complete wave C before an attempt to break above 55. it looked like it wanted to just breakout immediately. and I said it had to break 55 soon or risk a pretty big sell off.

well not only did it failed to break above 55 to continue the momentum, the original target below 50.00 is now fully underway.

for the moment, count remains the same. I am still leaning towards an eventual breakout above 55 towards 60-65 and expecting oil to find a bottom some where between 47-49

however my line in the sand has always been the 61% level at 47. this will be the clue whether oil has more trouble ahead. so for the coming days/week. we will have to see how this all plays out

https://s8.postimg.org/r31j2zizp/oil_03_09_2017.png

[SilverRex]

silver

has backtested the previous neckline breakout using best fit line model.

with the RSI being extreme oversold and price correction reaching previous wave 3/4 range, it would make for a very ideal bottom right here.

current area is 50% fib retracement level. the 61% is at 16.70, very possible we could bounce follow by a lower low to create a divergence

https://s10.postimg.org/qk7bs6g3d/silver_03_09_2017.png

[SilverRex]

gold

I am going to stick to this count being gold is in a running flat ABC pattern now looking for wave C bottom. since I am using 1123-1244 being the 5 waves. the 38% fib level is actually at 1198. so we only just a few dollars away. the 1199 level was also the support from May 27 2016 which resulted in a 137 advance there after. so I am going to say this area should offer some buying, at least on first test

https://s16.postimg.org/a5l7klg05/gold_03_09_2017.png

[SilverRex]

Nak/ndm.to

after a solid bounce yesterday. do we have a 3 wave flat correction with sub 3 ready to go?

https://s29.postimg.org/9gqi0a73b/nak_03_09_2017.png

[ickyflex]

Oil in the shitter again, hopefully it gets in the 48 and bounces off it as per above.

Will be a buyer soon if things shape up

[bspot]

Originally posted by ickyflex
Oil in the shitter again, hopefully it gets in the 48 and bounces off it as per above.

Will be a buyer soon if things shape up

BTE:CA at 4.40 looks like a sweet spot for a 63% retrace from the move off the bottom.

I really hope gold makes a frigging move so I can free up some capital to take a stab there.

[SilverRex]

some interesting action on drys this week.

could it be a wave v of V bottom has occurred? I still have some beer money in the red from a couple of weeks ago. looks like we have 5 waves off the low a good start

wondering if it can still turn into wine.

trade at your own risk

https://s18.postimg.org/eixjeuxft/drys.png

[bspot]

Originally posted by bspot


BTE:CA at 4.40 looks like a sweet spot for a 63% retrace from the move off the bottom.

I really hope gold makes a frigging move so I can free up some capital to take a stab there.

God dammit.

Hit 4.42, and ran up to 4.72.

We'll see if a retest happens, otherwise sadness for not following through on my own plans again.

[SilverRex]

Originally posted by SilverRex


my sweet spot is 2.44 but given the action of late. it is possible the bottom may be in. and from a bullish EW count I have been following, it may be ready to make a big move to the upside.

the only question is has the bottom formed at 2.6? or do we have one more lower low to go.

with the descending wedge pattern I Think if natgas can break above 2.9 (which means it has 5 mini waves up) then it will support the case the bottom being in.

https://s13.postimg.org/rluhwlnc7/natgas_03_08_2017.png

some positive signs out of natgas. not only did it break the sharp down trendline, it also managed to produce 5 waves off the low and closed above 2.90, with a slightly higher high, it would remove the wave 4 scenario completely.

if the bottom has been struct at 2.54, we should see it correct back into the 2.7 level then launch.

[riander5]

God damn oil. Drop biotech Drop!!!

[bspot]

Originally posted by riander5
God damn oil. Drop biotech Drop!!!

I gave up on my LABD today. Tomorrow is guaranteed 5%+.

You're welcome.

[SilverRex]

gold

this count is from a fellow EW guru on another forum that I respect and follow. he is suggesting there is a perfect 5 waves down for wave (C) potentially signaling gold bottoming today. first confirmation is to see price take out the previous wave iv top above 1209

this also looks like a 5-3-5 count A=C pattern

https://s4.postimg.org/6rq8n92p9/gold_03_10_2017.png

[riander5]

Originally posted by bspot


I gave up on my LABD today. Tomorrow is guaranteed 5%+.

You're welcome.

Haha just because you sold yours? I feel the same way most of the time. It hasnt gone where i wanted yet, but it hasnt confirmed a trend the other way either so im holding for now

[SilverRex]

despite some positive action in gold. the real bottom for miners may not occur until post rate hike next week. the lack of conviction may just mean it will continue to grind lower in a ending diagonal pattern until the rate hike announcement next week

the only time I would say the bottom is in is if gdx can take out the wave (iv) high above 21.80

until then range bound I would say.

https://s2.postimg.org/x5umntpqh/gdx_03_10_2017.png

[KO22]

What happens to gold post rate hike? Assuming down, but what kind of numbers are we talking about? :cry:

[KappaSigma]

Finally my junior permian producer has nasdaq listing approval. Lilis energy.

[littledan]

opened a position in TD today @ $66.85. It's getting slaughtered on the cbc article. ex-div is Apr 10 for $0.60/share FYI

[SilverRex]

to make things interesting and drawing in more technical buyers. gdx needs to break above 21.55 and gold above 1209

[KappaSigma]

Originally posted by littledan
opened a position in TD today @ $66.85. It's getting slaughtered on the cbc article. ex-div is Apr 10 for $0.60/share FYI

I just purchased at 65.90

[SilverRex]

just some reading

Gold is Tapping Around Looking for a Tradable Bottom

Bob Moriarty
Archives
Mar 10, 2017

As of Friday morning March 10th, gold has been down nine days in a row. If you were flipping quarters the odds of heads coming up that many times in a row would be 512-1. Gold going down nine days in a row should only happen one time out of every five hundred and twelve trading days. Or once every two years.

Measuring sentiment is difficult when you are not at a major top or bottom but if you look hard enough there should be something giving you a signal. Gold is highly over sold; I believe we are still in a bull market. I also believed a month ago we were starting a correction. We have had that correction. I think gold is looking to go up again. That would be very bullish, giving a higher low.

Sunday is a full moon. Commodities like to change course at full moons or accelerate in the direction they are going. It would be irrational to believe gold will continue down and accelerate further after nine days in a row of lower prices.

Everybody back in the pool.

[SilverRex]

GDX just produced a swing low by hitting 21.56

[bspot]

Updated exit plans for JNUG? I'm sitting 5.90 average. Really want to let a decent amount run, as this looks to be one of those really good looking setups. I need to consider my risk management here though and lock in some gains early on and reduce my exposure.

[el_fefes]

What's everyone's plan for net week?

Buy some JDST/HGD for the rate hike announcement and then flip it a day or two after?

[bspot]

I'm switching things up. Trying a 5% trailing stop on a third of my JNUG. Normally I'd kill the first position here as it's back past break even, but lets see if this can run.

[littledan]

Originally posted by KappaSigma


I just purchased at 65.90

right on! I'm gonna keep buying this otw down. Hopefully in 3 weeks we can high-five on this position.



Originally posted by bspot
I'm switching things up. Trying a 5% trailing stop on a third of my JNUG. Normally I'd kill the first position here as it's back past break even, but lets see if this can run.

Looks like a good strategy. Never hurts to take some profits even if its a trailing stop that takes you out of the position. Hopefully it runs and you can see some good gains.

[Kloubek]

Good gains today for sure on JNUG.

Certainly a long way to go to get back to where it was. Especially factoring in the rate hike.

[SilverRex]

so far gold not only produced a swing low but also 5 waves up from the low last friday.

expecting gold to find a bottom some where between the 50 and 61% fib level would be ideal. if price closes below 1201 then ill start to be bit more concern.

https://s11.postimg.org/5t0gedqar/gold_03_13_2017.png

[SilverRex]

selling half my Jnug to lock in profit this morning.

[riander5]

Waiting on a good entry time for Jnug as it has met my qualifications to confirm a new uptrend.

Was going to get in this morning at 1% up but went and had a shower instead

Now i wait..:banghead:

[SilverRex]

gpl

last week when GPL was in a ending diagonal. I was expecting the bottom to be near and with a slight possibility that it would break into the 1.6x which is a screaming buy. not only did it achieve this but it has since completely reversed and took out the important 1.8 area with 5 mini sub waves up on strong volume. very likely the bottom being in.

https://s29.postimg.org/a0vnixtqf/gpl_03_13_2017.png

[riander5]

Jnug trying to start a short wave 5 after an extended wave 3? Hmm

[bspot]

Originally posted by SilverRex
selling half my Jnug to lock in profit this morning.

What's your plan for the rest? Normally I'd throw in a stop at break even, but the whipsaw at FOMC can make those moves look foolish in retrospect on many occasions.

[SilverRex]

with FOMC around the corner, anything could happen. a bearish alt count for gold if gold closes below 1200 then a lower low cant be ruled out still.

with that said, I think miners will not produce a lower low, it will be a higher low.

I am still leaning towards the bottom being in.

https://s1.postimg.org/w9fehhcof/gold_03_13_2017.png

[Disoblige]

The concern really is Yellen's speech after the decision. If she says they're still on target for 2 more rate hikes this year, look out for the gold dump.

[riander5]

The concern is, why didnt i buy friday

why

[SilverRex]

Originally posted by Disoblige
The concern really is Yellen's speech after the decision. If she says they're still on target for 2 more rate hikes this year, look out for the gold dump.

true and a larger bearish alt count can still paint further down side a lower low under Decembers low landing some where in May/June period.

which is not what I prefer and will certainly see some early warning signs when this happens.

https://s13.postimg.org/7cnoqrsmv/gdx_alt_count.png

[ickyflex]

Oil hit the 47s

[Vanish3d]

out of JNUG from 5.5 and taking a stab at JDST with a stop at yesterdays low.

and some beer money in VRX

[SilverRex]

miners have been moving in an ABC correction. expecting more upside but will hinge on how gold plays out

as for gold. as expected. gold rallied off the 61% fib level 1201 pretty much a text book correction. Now this area must become support or risk the alt count suggesting lower low to come. until then let see if the rally off 1201 can translate to a move above 1211

https://s22.postimg.org/moxlh3dmp/gold_03_14_2017.png

[SilverRex]

gdx

right now the uber bullish count in green has a 1-2, 1-2 setup and requires gdx to remain above 21.91 and if gold makes a move towards and above 1211, then this will become the main count.

if 21.91 givesaway, then the alt in red would be my guess as it is a clear 3 waves down alt (A) and 3 waves up alt (B) follow by alt wave (C) back down to the 21.50-21.70 area

there is also a 3rd count which I could say the top this morning was the completion of the 5 waves. with the FOMC this week, be prepare for both sides. if miners drop low enough I will re-enter my 2nd or even possibly a 3rd position.

https://s28.postimg.org/tosu67vgt/gdx_03_14_2017.png

[SilverRex]

also oil is like 30 cent away from 47 which to me is the line in the sand if oil still has a date with 60+ oil in the short to medium term.

very tempted to open an energy play here with mental stops below 47. also even if 47 is broken due to the extreme oversold condition I believe oil should bounce regardless to backtest the previous broken channel.

oil bounced off 47.07, going to take a stab at this level and see how it plays out

[SilverRex]

also gdxj appears to be in a cup and handle pattern setup and forming the handle, yet the handle appears to be a bit shallow so cant rule out it can still retest the 200EMA under 35, a successful breakout of this pattern would push gdxj back towards 39-40 area

https://s18.postimg.org/4nfvsy361/gdxj_cup.png

[SilverRex]

gdx took out 21.91, wave C count underway

we have a clear 3 waves (A) a 3 waves (B) high of today and now wave (C) should should unfold in a 5 wave structure.

update: possible sub 4 of (C) bounce underway

https://s14.postimg.org/7vzj3rhzl/expanded_flat_correction.png

[bspot]

Took a big bite of BTE:

https://invst.ly/3fza4

[SilverRex]

speaking of bte.

I was comparing the similarities between fcx and bte and how after strongly coming off a bottom to have been in a multi month correction.

https://s15.postimg.org/8ijtwnwsb/fcx_vs_bte.png

[SilverRex]

right now not too sure if wave v of (C) is completed or wave iv of (C) but if jnug dives below 6.00 I will be looking to add back my 2nd position

https://s3.postimg.org/fbqhve4qb/expanded_flat_correction.png

[bspot]

Sold 1/2 my JNUG at $7, the other half at $6.25.

Feeling like a genius right now, which is rare, but that only works if I buy some of it back, which is a scary prospect heading into the FOMC.

I may just risk the big upside I've been waiting for and head in with no position.

Or buy both right before the meeting and dump whatever spikes hard and hope for the typical overreaction. I don't know if I'll be able to sit and watch, so that may be out.

Edit: Screw it. Small position at 5.82 with a stop of 5.73. Lets see if this drop is done for now.

[SilverRex]

bought back my 2nd position at 5.80

[Vanish3d]

Originally posted by bspot
Sold 1/2 my JNUG at $7, the other half at $6.25.

Feeling like a genius right now, which is rare, but that only works if I buy some of it back, which is a scary prospect heading into the FOMC.

I may just risk the big upside I've been waiting for and head in with no position.

Or buy both right before the meeting and dump whatever spikes hard and hope for the typical overreaction. I don't know if I'll be able to sit and watch, so that may be out.

Edit: Screw it. Small position at 5.82 with a stop of 5.73. Lets see if this drop is done for now.

shit, I thought I was a genius.
I closed my JNUG at 6.8, and bought JDST at 17 with stop at 16.75... came back to 19.5 and was super happy, then looked at my order status to see JDST filled at 16.75.....

[jacky4566]

Originally posted by bspot
Sold 1/2 my JNUG at $7, the other half at $6.25.

Feeling like a genius right now, which is rare, but that only works if I buy some of it back, which is a scary prospect heading into the FOMC.

I may just risk the big upside I've been waiting for and head in with no position.

Or buy both right before the meeting and dump whatever spikes hard and hope for the typical overreaction. I don't know if I'll be able to sit and watch, so that may be out.

Edit: Screw it. Small position at 5.82 with a stop of 5.73. Lets see if this drop is done for now.

So hows that stop working out? We closed the day at 5.72.

I bought in at 6 and 5.75 so lets see what happens tomorrow. Need some weekend beer money!

[ickyflex]

Crude API:

Crude -0.531mb
Gasoline -3.875mb
Distillates -4.07mb
Cushing +2.06mb

[bspot]

Originally posted by Vanish3d


shit, I thought I was a genius.
I closed my JNUG at 6.8, and bought JDST at 17 with stop at 16.75... came back to 19.5 and was super happy, then looked at my order status to see JDST filled at 16.75.....

Ahhh that's the worst!


Originally posted by jacky4566


So hows that stop working out? We closed the day at 5.72.

I bought in at 6 and 5.75 so lets see what happens tomorrow. Need some weekend beer money!

Poorly. Lol. But I'll let you know in the morning. If it opens red, I'm a happy boy for the stop. I really don't like hard stops, and only use them when I know I'm making a risky/silly buy. That move cost me $18, so I'm ok with it.

[swak]

Whats your guys' thoughts on 1.92/share for Penn West "PWT"?

My average is just above $2 now, could be worth the average drop... and with their SK sale, looking way more promising?
Anyone with more info?

[bspot]

Originally posted by ickyflex
Crude API:

Crude -0.531mb
Gasoline -3.875mb
Distillates -4.07mb
Cushing +2.06mb

So this has to be super bullish no? Or are refineries stockpiling for driving season?

[bspot]

Also, that is a lonnnng term trend line we just hit and briefly bounced:

https://invst.ly/3g08w

[KappaSigma]

Originally posted by bspot
Also, that is a lonnnng term trend line we just hit and briefly bounced:

https://invst.ly/3g08w

I sold almost my entire oil and gas portfolio. Im waiting for 1 of 2 things or both.

1. Opec to confirm agreement extension
2. Multiple week over week of inventory drops


On big weaknesses i will be looking to start new positions in lilis energy and redolute energy. Both permian producers.

[Vanish3d]

into JDST at 18.8

let's see this fkr tank to shit. I put a sell order for 25

[SilverRex]

gold

after breaking below 1201, it is quite bearish, yet it has not broken the bottom of the triangle neckline and price is so far consolidating. the release of the FOMC annoucement in a couple of hours will most likely breakout of this range, cant rule out false break outs in either direction so prepare for swings and tight stop isnt recommended

https://s22.postimg.org/pgw5xl4a9/gold_triangle.png

[SilverRex]

gdx

the expected expanded or running flat ABC correction is so far moving to script. I counted a perfect 5 waves down for wave (C) finish. gdx to maintain this count and put away the bottom needs to hold above 21.55 and breakout of this channel and turn the wave (A) bottom into massive support

https://s23.postimg.org/nujrafm63/gdx_03_15_2017.png