Official Short-term Investments Thread

[SilverRex]

US dollar

ever since it broke the head and shoulder neckline, the target of the 95-96 is fully underway. I was expecting a counter trend bounce but now dollar is much weaker than I first thought. which is fine, I wanted it to drop any ways to fuel goal.

the 200 EMA daily around 98.7 could offer initial support.

Gold

well what do you know, the breakout was real, despite a last minute sell off into the close on friday, it was really a quick shake out. it never broke the days low under 1240 to confirm the downtrend and my original bullish count remains intact.

now with dollar 200EMA just a little bit to go, I hope gold has enough momentum this week to at least make a new high above 1263.87, there is quite a significance in forming this new high due to the cycle counters. in order for gold to be in a new intermediate up trend with alot more upside to go, it needs to make a new high and not a lower high. so I will be watching the 1263 area

the 6.41 Jnug I repurchased last week was indeed a good position. with a big gap up this morning, if wave 3 is underway. these gap up needs to stay unfilled. The moment things look weak relative to gold's performance I may quickly exit all my leverage position. (considering miners have corrected enough in price but not in time so I will stay a bit cautious)

[SilverRex]

here is an alt count I have for gold. I am still leaning towards an uber bullish move for gold but miner needs to follow, gap up and remain up. wave 3 moves tends to leave gap behind.

if miner under performs, then I will begin to consider gold being in an extended 5th wave sequence which will soon still lead to a top follow by a big decline.

miners gdxj may look ok with an ABC correction but gdx still looks a bit short in time which is my concern.

https://s14.postimg.org/4ejvhznox/gold_03-27-2017.png

[ickyflex]

Oil hovering around 47 again

[Vanish3d]

FCX taking a beating

[SilverRex]

jnug

if jnug breaks below 6.60 I am going to exit and just be content with a slight profit and wait for much lower prices.

fcx

looks like a final wave 3 of V of C underway. the lower low has been my alt count. final capitulation imo

[Disoblige]

Such a sad sight to see that gold is hitting 1260s and JNUG in the low 7s range.

[jacky4566]

No, what's sad to see is my MEG stock drop below 6 :cry: Im in it for the long game so I guess ill just twiddle my thumbs and wait for the summer oil hike.

[Vanish3d]

Originally posted by Kloubek
So, on a total whim I cashed in all my shares of BNE to try to dump it into something to make me a quick 5%. (I use the term "cashed in" as light as possible, as we all know how oil has done lately).

I dropped the roughly 10g into GBR around 11am, when I saw it has a strong upward trend in the morning. I entered at $1.25, and it has already gained some 30% by that point.

Man, was that a good play. Spiked at $1.95, and I took 8g of it out at $1.85. (Almost sold at $1.92 but I got greedy.) I'm leaving 2g in there to see what happens next week - though it is more likely than not investors will realize this was a momentum increase as opposed to one based on fundamentals.

Still, 50% gain in one day ain't too bad. If I can do that one more time I'll actually be even in my stock market attempts.

Looks like you should've held more lol

[SilverRex]

setting a stop under Jnug at 6.75, not liking the action in the miners. and if miner is to pop it needs to make a move now.

[Kloubek]

Originally posted by Vanish3d


Looks like you should've held more lol

Yes, apparently!

No, I don't want to advertise what I am doing with my stocks all the time. Fact is, I am way down overall so nobody should be taking my advice. I just got real lucky here.

I had 2g left, which I cashed in for another 75% gain today. (It was actually well over 100% but I had too many things to do at work before I had the opportunity to cash out.)

[bspot]

Oil is testing the crap out of the uptrend line. If there wasn't such good opportunity here, I'd likely cut loose my BTE and UWT positions, but instead I'll hope that the gasoline draws of the last couple reports are in fact showing future supply drawdown on the way:

https://invst.ly/3j-20

[bspot]

Gold broke out over the first downtrend line I was watching, so after exiting JDST and waiting for a direction, I opened a position in JNUG at 6.87.

I'm hoping for a retest of this breakout to add more:

https://invst.ly/3j-5z

[SilverRex]

Stopped out of JUNG 6.75, goibg to wait for lower prices

[SilverRex]

with my stop being knocked out. miners are clearly corrective with the recent move up. I had my suspicion that the correction was too shallow and needed to correct further in time.

so the original idea of gdx making a 3 wave move down to the 22 area is back on the table. or has always been on the table.

wave (c) down is underway. will be looking to buy back as it gets into the 22s.

there is also a h&s which could also target under 22. I expect there will be a bounce when price hits the neckline then breaking down shortly after

https://s2.postimg.org/cmwiwwant/gdx_03-28-2017.png

[jacky4566]

EDIT: I am retarded and will go back to read investopedia.

[SilverRex]

fcx

fcx never confirmed the bottom by taking out 13.15, and so the count which one more lower low was possible. now that it has produced this low. the probability of a low is near. even if price was to break the low under 12, it should be very mild. we are either in a wave iv of v of (c) or v of v (c) finished and i of 5 being started.

strong Positive divergence has appeared. again, I am still leaning towards the 1-2, 1-2 setup with fcx hitting 20-24 in the coming months.

https://s28.postimg.org/diclflt8d/fcx_03-28-2017.png

[bspot]

There goes GDXJ.

I'm out of JNUG for a loss, miners look like there is lots of downside if gold retests its breakout. I'll rejoin the party then.

[SilverRex]

fcx

fcx has overlapped its previous wave low and hence we now have two scenario unfolding. either the low is in, which then we should see another wave higher and perhaps even breaking out of the down neckline for 5 sub waves up, correct then launch

or we may have some sort of ending diagonal if price cannot breakout and forms wave b of a 5 pt descending wedge down that could still produce a slightly lower low.

either scenario is encouraging

confirmation still requires price to break above 13.14-13.15

https://s17.postimg.org/uc8gv0ohr/fcx_03-29-2017.png

[SilverRex]

gdx

well interesting development. while miner continues to under perform_a sign of weakness it is also made things alittle interesting by getting back above the neckline (orange)_

at this point I am still leaning towards a bearish sell off into the 21-22 area to complete wave (c).

yet one has to adjust if things change on a dime. considering this correction has met the minimum objective of correcting both in price (38% fib) as well as time. nothing says it cant suddenly breakout in a wave (3).

you can count 5 waves down from (b) so this is a possibility and we will know if and when gdx crosses above 23.17 to fully negate the bearish hand and shoulder.

all in all one cannot rule out the performance_of this sector of late is trying to deceive as many as possible and throw everyone off it's back even the most seasonal traders could be in for a surprise if the big movement is to the upside than the expected continuation of the correction or perhaps even a new low.

https://s15.postimg.org/a8z012lpn/gdx_03-29-2017.png

[SilverRex]

natgas

looks like it is in a wave 3 advance. as long as price does not close below 3

[bspot]

EIA data:

Crude +867K vs +1.03M

Cushing -200K vs 866K

Gasoline -3.75M vs -1.88M

Distillate -2.48M vs -1.25M

MACD cross, stoch RSI turned up:

https://invst.ly/3khwj

[SilverRex]

Originally posted by bspot
EIA data:

Crude +867K vs +1.03M

Cushing -200K vs 866K

Gasoline -3.75M vs -1.88M

Distillate -2.48M vs -1.25M

MACD cross, stoch RSI turned up:

https://invst.ly/3khwj

well triple bottom and did not close below 47, I remain bullish in crude as long as 47 holds. also we are entering a strong seasonal strength from now until Oct.

[bspot]

Speaking to your seasonal strength comment:

http://s3.amazonaws.com/cdn2.socialtrade.com/st/shards/2220_wcXVhz8g_l

[SilverRex]

gold

gold is both in a down channel as well as flirting with the h&s rising neckline. something has to give this week. either a breakout above 1255 or a fake breakout perhaps leading to a continuation in the channel towards 1240 with target in the 1230

https://s15.postimg.org/f8k21osmz/gold_03-30-2017.png

[SilverRex]

interesting action on gold despite initial drop down to retest the 1244 support. didnt quite hit the bottom of the channel near 1240, if price closes above 1251 that would begin to get bullish and a close above 1255 would seal the bottom imo

update: gold so far being rejected off 1251, until it can close and sustain above this, still expecting further downside for both gold and the mining complex

[SilverRex]

fcx
finally broken out of a multiweek down neckline and on the verge of taking out 13.15 impulsively to the upside

update: there is the break a above 13.15, the bottom is in (imo)

[Vanish3d]

BTE is frustrating. Oil is popping but it's staying flat.
maybe if we cross the $50 mark it will pop

[SilverRex]

Originally posted by Vanish3d
BTE is frustrating. Oil is popping but it's staying flat.
maybe if we cross the $50 mark it will pop

bte looks like a clear 5 waves up off the low so I expect a pull back this may explain why it is having some trouble moving higher

[BavarianBeast]

Starting to think about cashing in on my canadian energy stocks.

I think the CVE and COP share prices this morning show a good indication of where they are going.

[bspot]

Originally posted by BavarianBeast
Starting to think about cashing in on my canadian energy stocks.

I think the CVE and COP share prices this morning show a good indication of where they are going.

Did CVE not dilute to pay for the deal?

I mean, that doesn't take away the COP pop.

[SilverRex]

fcx

after seeing fcx breakout above 13.16 as well as producing a weekly swing. I now lean towards a bottom is in with wave (c) of (ii) completed. comparing to the last major bottom back in Oct. it put in the exact same type of bottom with a thrust under cut low follow by positive divergence out of oversold.

we should be in some sort of sub 3 of 5 of i move. and expect a pull back just like (circled in red) then launch.

final nail in the coffin is to break above 14.00

https://s28.postimg.org/sbjbgx87h/fcx_03-30-2017.png

[bspot]

It didn't get any easier than this playing UWT. BTE was a bit tougher as it hit lower lows as oil had already begun to reverse, but throwing money at it as long as the channel held has paid off:

https://invst.ly/3kslq

[s_havinga]

So are you holding until Oil makes it to ~$55 as the channel suggests?

[bspot]

Originally posted by s_havinga
So are you holding until Oil makes it to ~$55 as the channel suggests?

I likely don't have the balls to. Oil hits important MA resistance at about $51, so I may peel off my UWT position.

For BTE, it depends on the price action a bit, but I am more comfortable holding that longer term.

I'm holding more BTE than I'm comfortable with for the long term, so I'll probably pull about half off at $5, and let the rest run as oil possibly tests the top of the channel.

If all goes down as planned, I'll peel a bit more BTE off when oil is at the top of the channel, and hold a remaining position of more like 5% of my portfolio to see if it gets on a serious run.

[ickyflex]

I wonder if all CAD Energy is down as a result of CVE

[Vanish3d]

looks like GDXJ about to tank further.
Holding JDST at 15. I would love 20% day

[BavarianBeast]

Originally posted by ickyflex
I wonder if all CAD Energy is down as a result of CVE

That's my outlook on it.

Canadian oil is too damn expensive, why get caught holding the bag.

[bspot]

Originally posted by BavarianBeast


That's my outlook on it.

Canadian oil is too damn expensive, why get caught holding the bag.

New projects are expensive, sustainment is amazingly cheap.

http://www.the-american-interest.com/2017/03/23/canadas-oil-sands-looking-

[bspot]

Gold back testing the breakout. Scaling back in JNUG:

https://invst.ly/3kvbo

[ickyflex]

TSX Energy took a beating today, we'll see how tmr holds

[SilverRex]

gold

as expecting, gold never was able to close above 1251 to initiate a breakout, hence it continued on down towards the 1240 target which was achieved over night.

after testing the bottom of the channel, gold once again is trying another attempt at breaking out of this channel.

so first sign is a close above 1247.59, but there are either hurdles with the same 1251 becoming a secondary resistance as well as 1254 since the projection for this correction is down to the 1217-1230 area, we are not quite there yet.

miners did have a pretty good BoW yesterday which would or should cause a bounce today

https://s18.postimg.org/ilkdw7ee1/gold_03-31-2017.png

[SilverRex]

fcx

looks like sub wave 3 and 4 was done and sub 5 underway

[bspot]

Out of JNUG. Meager profits, but gold looks happy to retest the previous breakout a few more times which will just drag it down the above channel further.

[Vanish3d]

looks like GDXJ just broke out. Is it real ??

[SilverRex]

gdx

while my own personal expectation is to wait for the typical correctional target down to the 21-22 area. it is very interesting that miners are starting to have trouble selling off to new lows. I believe miners are now just waiting for gold's next big move.

if gold decides to punch right thru above 1255, then miners will jump the gun the end the correction by breaking out of this wedge.

https://s17.postimg.org/kvr7agbnz/gdx_03-31-2017.png

[bspot]

Well I blew that one. Oh well, blowing it for small gains beats how I've screwed it up in the past. Gold is still a bit in no-man's land, so I'm ok being tentative.

[bspot]

Closing the rest of my UWT. 16.60-19.80.

4 green days has very often produced a lower open on day 5, so I may look for reentry Monday.

BTE not moving was not part of the plan. That was supposed to be my vehicle to ride this longer term. I'm wondering if it's prudent to throw more $ at that hoping when it does break to the upside it is going to be a massive short squeeze, but I'm almost at 20% of my portfolio in BTE which is more than enough.

[SilverRex]

bte

just as I thought, after 5 waves up, it was only logical that it started to correct and back down to the 3.33 level which is minimum. it will only be a concern if price closes below 3.21, if the bottom is in, bte should not close below 3.21

https://s15.postimg.org/5cs20czkb/bte_04-03-2017.png

[SilverRex]

fcx

fcx
right now I suspect we may possibly have 5 waves up completed. if so, price should then find its way down to the 12.5-12.90_

however wave v of (i) is sort of short so it is also very possible we are still in wave iv of (i) with wave v of (i) to come._

either way, everything still looks very healthy. The only extreme bullish case would be the recent correction being wave 2 and wave 3 is about to launch. this will be confirmed if price suddenly breaks north of 14.00 impulsively.​​​​​​​

and of course how can you go without a bearish alt count. give how alt A to alt B appears to be 3 waves down. cant rule out we are in some sort of larger wedge pattern. We will know this if and when price closes below 12.50 again.

https://s27.postimg.org/4fi58omoz/fcx_04-03-2017.png

[jacky4566]

Its a GOLD RUSH!
Glad I bought some JNUG first thing.

[SilverRex]

gdx

not much changed from last week. miners still waiting for either a breakout to the upside or a breakdown. although it has been outperforming gold lately which is a good sign if your long miners.

if we see miners breakout impulsively, 23.11 needs to hold to confirm wave iiii in progress.

a break below last week's low will no doubt resume the original target price down to the 21-22 area.

https://s10.postimg.org/vom2q7v3t/gdx_04-03-2017.png

[SilverRex]

taking a stab at bte with stops below 3.20

[SilverRex]

Originally posted by SilverRex
oil

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

its great when I dont have to do any recount or reassessment. oil is playing out to the green path perfectly. final confirmation is to see oil recapture above the previous support at 51.64

its amazing how oil at 47 was never broken because that was the line in the sand if I was to see a very bearish outlook on the medium term. with a strong seasonal heading from now until oct. Oil looks pretty good at this time hence I have opened a position in BTE at 3.29 during this wave 2 pull back.

[SilverRex]

gdx

with a gap up this morning. GDX must hold above 23.17 unless it can produce 5 waves up from 22.78 as well as above 23.11 to confirm breakout

[SilverRex]

usa.to

looking at the big picture, it would appear we have a 1-2, 1-2 setup as well. ive bought my first position pre reverse split at 2.88 and have increased my position size by 50% during this pull back in the 3.6x region

now we wait. direction may depend on when gold/silver wants to move. as I am reading that there is some cycle low in the May/June and August time frame. so it is entirely possible gold/silver may actually drop off the cliff once an intermediate top is formed pushing out the miners for further correction or side way grind before a year end super rally.

if this is the case the only other scenario I see is an extended running flat with price breaking or revisiting wave (c)

I dont think price will ever break below 1.00 ever again.

stocks correction looks like it is about to end and ready for a wave v of 3 sequence. this may damper any excitement in the gold sector.

https://s30.postimg.org/vl6n38r01/usa_04-04-2017.png

[bspot]

Bought back UWT near yesterdays lows, partial position.

Really wishing I loaded the boat in UWT for the last week instead of BTE. BTE is lagging badly. Hopefully some explosive upside there once the shorts get shaken off.

[littledan]

wow, anyone seeing SAN.VN ??

[jacky4566]

Originally posted by littledan
wow, anyone seeing SAN.VN ??

Cool. Maybe I will start looking at solar stocks.

[bspot]

API:

Crude: -1.83MM
Gasoline: -2.56MM
Cushing: +1.34MM

Distillates were a build as well I believe.

BTE with a nice pop into finish.

This is continuing to play out like many of the recent moves up. 4 green days, a small red day, and the trend resumes. Unless the EAI numbers are way off the API data, should be a green day tomorrow.

The bottom always looks so obvious in hindsight:

https://invst.ly/3menc

[SilverRex]

with a strong ADP jobs report, gold is being tested heavily this morning.

miners over all even though it is out performing gold, over all it remains weak relative to where they were with price. So the idea of a further weakness towards the summer period is not out of the question. the explosive rally may have to wait until towards the end of summer.

watch gdx 23.11, if this gives away, it would spell more trouble ahead.

for oil, oil has finally retaken above 51.67, will have to see if it can close above this to confirm a new intermediate advance has started.

natgas, the longer it stays above 3.00, the longer this looks like wave 3 is underway. I am sure when natgas was in the 2.50s, how many would take the risk and hold on for a near 30% jump.

[SilverRex]

gold

if the summer doldrums are true for gold, then I expect a further large scale consolidation before take off.

ultimately I do want to see gold break above 1263.87 before this cycle tops to open up further upside

https://s30.postimg.org/d8tspp2f5/gold_04-05-2017.png

[SilverRex]

fcx

breaking out. if this is wave 3, fcx needs to turn 13.52 into massive support or risk this being just the 5 wave top with wave 2 back down to 13

bte

breaking out. if this is wave 3, bte needs to turn 3.55 into massive support or risk wave 2 correction not being done and this being wave b with c back down to 3.26

[zhao]

Hbc.to was my big gamble (don't like retail, don't know a lot about them) buying yesterday.

So far so good today on that gamble, but what a volatile stock...

[ickyflex]

Stupid crude build haha, momentum was so nice lol

[littledan]

HMMJ started trading today in weed stocks. I hold three common holdings SL, ACB, and APH. All are GREEN today!

[bspot]

Originally posted by ickyflex
Stupid crude build haha, momentum was so nice lol

Yeah, brutal EIA. Almost took a bunch of profit this morning :cry:

[b_t]

ended up closing out my JNUG position at a loss just to get it off my mind. will look for re-entry on the next dip down to the low 6s

[Disoblige]

Originally posted by b_t
ended up closing out my JNUG position at a loss just to get it off my mind. will look for re-entry on the next dip down to the low 6s
At this point, any possibility of JNUG/JDST crossing pathes would be in the high 9s range (before RS). It was 12's before. Talk about decay. Only winners is Direxion.

[jdmXSI]

Fingers crossed that we see another 20-30% gain like the last time the FOMC released their minutes a couple weeks back :bigpimp:

That being said, I will also be putting a stop in just in case around 6.70 depending where the price is at noon.

[Disoblige]

Originally posted by jdmXSI
Fingers crossed that we see another 20-30% gain like the last time the FOMC released their minutes a couple weeks back :bigpimp:

That being said, I will also be putting a stop in just in case around 6.70 depending where the price is at noon.
Volatility is quite large on days like this, so if in range, could easily take out your stop at noon before spike up, etc.

[jdmXSI]

Originally posted by Disoblige

Volatility is quite large on days like this, so if in range, could easily take out your stop at noon before spike up, etc.

I know, that is why I want to wait until it is quite a bit closer to noon before I place the stop. That way it does not get unnecessarily triggered.

[jacky4566]

SAN.VN. Looks like I can thank William Shatner for beer money this weekend. Cool 30% bump.

[SilverRex]

oil

after triple bottom at 47. I remain bullish on oil and nothing has really changed. if the bottom is in. I suspect we may have completed 5 waves off 47 and so the typical move would be a 3 wave correction down to the 48.8-50 area.

the alternate count would be 5 waves completed back on March 31st. and the abc wave 2 is also done with now wave 1 of 3 done today and in a small sub 2 correction. if this is the case, then oil should not break below 50.62 and new highs will intermediate confirm this.

I have a small position in bte at 3.29 as it looks similar off the lows with 5 waves and sub 2 correction.

My line in the sand now lies at 48.8, below this I will exit my energy play and wait for further weakness.

https://s22.postimg.org/zfh1fidsx/oil_04-05-2017.png

[Disoblige]

JDST is the way. Get in on the dip. JNUG may get low 6s or lower by end of the day. Sell before end of the day to be safe.

[SilverRex]

my last chart on miners, was expecting a breakout and retest sub 2 if gold was to make it above 1255 which it did.

so while the count looks similar. I may have to start considering the summer doldrums for gold being in further consolidation.

if that is the case, then the up move off the low is merely just wave (a), with (b) done and we are now in wave 2 of (c) up.

depending on how it reacts to the 23.60 if and when it does breakout, I may scale back my overall exposure.

https://s15.postimg.org/m5atoszij/gdx_04-05-2017.png

[Disoblige]

Gold's looking pretty strong. Probably good to start unloading now.

[Disoblige]

Gotta love FOMC. So unpredictable. Gold strength was key.
Hope all those in JDST got out safe and with some small profits.

[ickyflex]

RRX looking to maybe sell the company

[SilverRex]

looks like wave 3 of (c) up for gdx has started

[bball2]

Aphria been killing it lately :thumbsup:

[secol]

broke the $7 wall. should open up a bit here with such little historical price action and get a bit jumpy

[SilverRex]

expecting the stock market to make a lower low (recent rally looks like a wave B) with wave C to go. with this drop, also expecting the gold sector to find an intermediate top

[littledan]

Originally posted by bball2
Aphria been killing it lately :thumbsup:

Go baby go! Looks like HMMJ is really helping out the green sector.

[SilverRex]

Gold

Finally gold exploded over 10 dollars over night probably due to the Syria air strike news. But at least technically it finally broke above the previous high at 1263.87 which for the cycle counters is a must if gold is to remain bullish.

after we are now at the mercy of the NFP report to see if gold will find a top here or we may still have some legs to revisit the all important multi month down neckline in the 1280-90s.

I will be looking to unwind some position in the gold sector if there is any further rally.

Oil

so far so good. has officially closing above 51.67, now would like to see this turn into support


stock market.

while it is recovering premarket, the expectation was further weakness for the coming week or probably just days to end this correction before a 5th wave finale begins, my gut feel is that stock will mount another rally towards new high while gold either drops or grind ever so painfully sideways in the weeks ahead so I hope to position myself for this pattern

gdx

with a gap up this morning, I believe key support is 23.55, I will be watching this level closely and see how high she can go. if 23.55 gives away I wills scale back quickly in some of my positions


update:

NFP way below estimate,

98k vs 180k est
but unemployment fell to 4.5% which is probably the deal breaker for gold

[SilverRex]

fcx

possible 1-2, 1-2 setup in fcx if it break bottom today and break above 13.72, but as I posted from the previous chart on fcx, the 5 waves up could have just been completed this week hence we are working towards the buy zone area near 13 or slightly below

https://s28.postimg.org/qdys3g48d/fcx_04-07-2017.png

[SilverRex]

miners just cant follow gold, then again I was expecting an intermediate topping here. with gdx 23.55 failing i am exiting my last Jnug position and will wait for the next big opportunity panic sell off.

[KO22]

Wondering if I should jump back into JDST over the weekend.. rode the nice wave up this morning and sold now contemplating whether or not to jump back in

[SilverRex]

ive scaled down a few of my other core holdings in anticipation of further weakness.

[Magic-8-Ball]

Originally posted by SilverRex
ive scaled down a few of my other core holdings in anticipation of further weakness.

Silverex, with the market weakness potentially on the horizon I know you are invested in fcx (appreciate your charts btw). Are you scaling back in them too looking for a better re-entry?

[SilverRex]

Originally posted by Magic-8-Ball


Silverex, with the market weakness potentially on the horizon I know you are invested in fcx (appreciate your charts btw). Are you scaling back in them too looking for a better re-entry?

just trimming my exposure and yes I am waiting for a better re-entry. Trying to take advantage if there is a coming drop but without losing too much in case the surprise is to the upside due to all these political uncertainty

[Mostwanted]

hey guys, do any of you guys use a platform that shows post and pre market trade?

[SilverRex]

gold

I continue to enjoy being optimistic. the latest action on gold looks like 3 waves sequence and so I cant help but wonder if the top has not been set. gold could either still be in a sub 4 of 5 still pointing to a retest of the major neckline just under 1290 or better yet my own bullish 1-2, 1-2 with price possibly headed to retest the (soon to be cross over 50/200EMA) and a backtest of the recently breakout neckline.

with all this summer doldrums and gold is bearish until summer. then perhaps it may really want to shoot for another run at the 1160-1180 area.

I have exited all my leverage position as well as scale down a bit on my other core miners. Will wait for a 5 waves down and take another stab with this possible 1-2, 1-2


https://s24.postimg.org/rsjbdyvc5/gold_04-10-2017.png

[SilverRex]

oil

no change. I mention if oil breakup was real, it needs to break above 51.67 then turn this into support which it has done so perfectly last week. I expect higher prices, although it may be due for a wave 2 any time before wave 3 (this wave 2 drop may coincide with stock market possibly making one final low?)

bte looks like wave 3 is about to get going with risk to the low side just under 3.26

[SilverRex]

as you can see, I posted this in February, was expecting a drop under 50 without breaking 47. amazingly price formed a triple bottom at 47 without breaking one penny below.

60+ oil remains on the table

https://s2.postimg.org/67di9reix/oil_02-13-2017.png

[SilverRex]

gold after 5 waves down, looks like it is making a counter trend bounce. I expect once this is over it will resume heading lower

gdx

the same goes with miners once gdx at 23.53 gives way or becomes resistance instead of support

update: ive scaled down my core miners by 30% on this bounce

[SilverRex]

Originally posted by SilverRex
fcx

possible 1-2, 1-2 setup in fcx if it break bottom today and break above 13.72, but as I posted from the previous chart on fcx, the 5 waves up could have just been completed this week hence we are working towards the buy zone area near 13 or slightly below

https://s28.postimg.org/qdys3g48d/fcx_04-07-2017.png

looks like fcx is taking the green count. after having to find a bottom at 13.30, it appears in the process of breaking out of a down channel

[zhao]

So far so good with my hbc prediction. I miss timed the bottom a bit (2 hours of huge volumes at a stable price so I bought, then it fell again) but still bought it the day it bottomed out. The huge swings have stopped and now I'm seeing steady upward growth. It'll cross over soon too most likely so interesting things could happen there too.

[littledan]

weed stocks going bonkers today.

ACB broke over 3 bucks, APH is in to the mid 8s...

[zhao]

Weed is one of those things I feel that is going to end in lols on both sides. Some will make a fortune and some will lose a fortune. I can't even guess where the top will be on the growth we are seeing

[sabad66]

Originally posted by littledan
weed stocks going bonkers today.

ACB broke over 3 bucks, APH is in to the mid 8s...
New ETF just recently came out too. Hmmj.to

Great option if you don't want to follow individual pot companies.