Official Short-term Investments Thread

[SilverRex]

usas (usa.to)

stepping back, the chart looks fantastic with a huge ihns pattern at play. A breakout above this neckline would put down a price target into the 8s. I want to see if it can produce a breakout above 4.50 on volume, then a backtest before launch.

https://s26.postimg.org/68qa461ft/usas_08-31-2017.png

[jacky4566]

Invest in Ford. Extra hundred thousand trucks gonna be sold this year in Texas and ford has the largest market share.

Interesting thought. Was there any stock spikes from Hurricane Katrina?

[SilverRex]

NFP data comes out today. I think if it causes gold, natgas, oil to drop then it just creates another buying opportunity

update: interesting

NFP.156k vs 180k

gold positive, yet here comes the gold dump

[SilverRex]

natgas

as suspected. looks like natgas breakout is here.
manged to pick up a small position in the 2.8s (UGAZ) will see how she goes

https://s26.postimg.org/j7477q5e1/natgas_breakout.png

[Disoblige]

Too bad markets are closed tomorrow. On track for 1360+ :)
I am still very bullish on gold as I was since July.

[SilverRex]

bte

while oil count remains messy. energy shares looks pretty clean to me. BTE after 5 waves off the low, a steep wave 2 pull back, looks like wave 1 of (3) is in progress here.

https://s26.postimg.org/fvfqhdzd5/bte_09-05-2017.png

[SilverRex]

fcx

copper is long over due for a correction. and fcx clearly isnt following it higher. a negative divergence has been spotted. so unless fcx can break a new high today which then could confirm an inverted h&s pattern targeting the 16-16.30, otherwise I am expecting wave c to begin shortly that should backtest the 13-14 area. the coming wave 3 rally after would be the one you want to me in

https://s26.postimg.org/kb2r0e155/fcx_09-05-2017.png

[SilverRex]

hopefully im not jinxing myself. next major resistance for miners is gdxj near 38 and gdx near 25.70. I will be planning to exit my jnug near that area and wait for a pull back

[Disoblige]

hopefully im not jinxing myself. next major resistance for miners is gdxj near 38 and gdx near 25.70. I will be planning to exit my jnug near that area and wait for a pull back
I'm pretty much in the same boat. I'll sell my JNUG and re-enter again at that resistance.

I'm long GDXJ (~75% of portfolio in GDXJ since 32.36), and around 15% in JNUG (21.75 late entry as I was flip flopping around entering 3x leverage since most of my portfolio already in GDXJ).

I still think there is a lot more room to run, gold on track for ~1360+

Needless to say, I don't believe in diversity in trading :rofl:


On a sidenote, I didn't play any UVXY today as I underestimated the market tanking as much as it did :(

[SilverRex]

I'm pretty much in the same boat. I'll sell my JNUG and re-enter again at that resistance.

I'm long GDXJ (~75% of portfolio in GDXJ since 32.36), and around 15% in JNUG (21.75 late entry as I was flip flopping around entering 3x leverage since most of my portfolio already in GDXJ).

Needless to say, I don't believe in diversity in trading :rofl:

wow, your even more invested than I am. I am mostly in individual mining stocks except for 5% in bte and 5% in natgas/gdxj leverage. With where things are, I am going to maintain minimal risk by not over exposing myself to leverage. (like I did in early 2016 with that amazing run). There is still the possibility that even if gold was to take out the previous high above 1375, it could remain in a larger corrective pattern pointing to a lower low. I want to ensure my setup can cover both scenarios. I will only dial up leverage if this entire sector was to somehow crash below this year's low.

[SilverRex]

gold

gold as suspected ever since it successfully closed above the all important and physiological 1300 level. It has since broke above the high during the election night. A significant development. the next major resistance imo will be the double cross resistance around 1350. I will be planning to take some profit around this area and anticipate a good daily cycle correction. Shall gold blow pass this area, well then its buckle up your seat belt. I will not repeat my previous mistake in 2016 by completely exiting all my position.

https://s26.postimg.org/l8sguz421/gold_resistance.png

[Disoblige]

I hope there is more people here other than us 2 following this... I wouldn't mind taking a year off to travel the world ;)

[littledan]

I hope there is more people here other than us 2 following this... I wouldn't mind taking a year off to travel the world ;)

You guys think JNUG is still a good entry @ ~25?

[SilverRex]

You guys think JNUG is still a good entry @ ~25?

for me I think we are closer to a short term top then being near a bottom. depending on how your setup your trades. the only time you would consider entering is if you absolutely have no exposure to this sector. if you do, I would wait a bit unless you like using stops and dont mind getting stopped out. And even if you do want to get some skin in the game, I would start your position extremely small

[SilverRex]

mux.to

looks like mux managed to crack up a 5th wave higher. if the bottom is in, you want to see 5 waves up 3 waves down. and rinse and repeat amid in a larger degree swings.

[Disoblige]

You guys think JNUG is still a good entry @ ~25?I'd agree on the short term top for now. You probably should wait and see what happens as GDXJ gets to 38 and go from there for better risk/reward. Unless you want to scalp trade this with volume.

[littledan]

I'd agree on the short term top for now. You probably should wait and see what happens as GDXJ gets to 38 and go from there for better risk/reward. Unless you want to scalp trade this with volume.

Awesome, great info guys.

Heads up, FIRE.VN may be on the way up here. Just received their sales licence from HC last month and signed a deal with Aurora to wholesale them MMJ. Closed @ 1.23 today.

[SilverRex]

gdx

countwise I think we are coming up to a sub micro 5th wave finish. yes it can still make a higher high but I am going to take my profit on Jnug after 20%+ run up. Sold 24.955. I will wait for a wave sub iv pull back that should be able to back test the previous trendline breakout as well as revisiting the previous wave 4 low. Since it looks like this wave 3 is extended, we should have multiple wave iv making it a bit choppy.

https://s26.postimg.org/9jdwtejih/gdx_09-06-2017.png

[Disoblige]

^^ You goofed SilverRex! lol. Short term target still 38 on GDXJ for my JNUG sell IMO. Just kidding though, securing profits is always a win.

Then I may sell entire GDXJ at 41 range. Then re-evaluate for new entry.

[SilverRex]

usas (usa.to)

while I think short term it is overbought. the big picture. with the clear neckline breakout. for starters I think it will at least make a run towards 8.00, I may increase my position sizes if it retest the neckline. Here is the kicker, this is one stock I will try to hold for the next 12-24 months. I keep hearing a lot of positive news suggesting this company will be on the verge of putting together a string of 40-50 cent profitable quarters. So far we have a camp of believers that projects the count upwards of 60-130 dollars. and technically it looks very solid.

will continue to review each move as she goes.

https://s26.postimg.org/d5k8cyjbd/usas_09-06-2017.png

[Disoblige]

Let gold consolidate for a day or so before moving higher. I will be adding/averaging up my positions in JNUG during this period :)

Likely Friday afternoon entry or probably sometimes next week after Sept 11th.

[Disoblige]

Well, that was a short consolidation period... Gold 1349 spike!

[SilverRex]

already have 1 small position in UGAZ under 12, adding another position here with stop. if natgas breakout was real, it needs to rally from here

[SilverRex]

gold

well as posted earlier this week, gold has finally got to the 1350 area. I fully expect this to be a short term top. while dollar's sloping neckline is near 90, if there is one quick panic drop to retest that area, gold may give us a false breakout above 1350.

I have exited my leverage position to look for a better entry. if gold does make a push above 1350, depending where the miners are, I may reduce some core positions. over all not going to make the same mistake I did in early 2016 when I completely sold all my shares only to see gold/miners continue to rally hard for another 2+ months


https://s26.postimg.org/u6k4ihb2h/gold_09-07-2017.png

[SilverRex]

mux (mux.to)

switching to mux USA simply it has more liquidity and the chart is easier to see.

mux.(mux.to)

I am pretty sure wave (C) bottom is in, a beautiful 5 waves off the low. sure it may be in an extended 3rd wave or 5th wave. Either count looks bullish to me. If gold does pull back from current level while the US dollar makes a strong rally just as everyone has given up. this may give mux.the wave 2 pull back then the next move up should be dandy

https://s26.postimg.org/xxtp4soqx/mux_09-07-2017.png

[SilverRex]

fcx

has copper topped and in a correction? I think so. but looking at fcx, it appears it is flagging. we may have an extended 3rd wave which means fcx can still breakout of this flag and make one more higher high above 15.70. The only alt count would be wave (i)(ii) is actually a truncated 5th wave bottom. if this is the case then we would see fcx possible back filling the gap near 13 in the coming weeks in the orange count.


https://s26.postimg.org/3lm70ny2x/fcx_09-07-2017.png

[SilverRex]

Meg.to

I already have position in bte and will diversify my energy holdings trying a position here in Meg.to, if we have a 1-2, 1-2 setup off the low, this sub wave 2 should end around 4.79. the alt count in orange would imply we are part of a larger degree corrective pattern targeting down to the low 4s which only means a better buying opportunity imo

https://s26.postimg.org/f2epg79s9/meg_09-08-2017.png

[SilverRex]

gold

so far gold did make a push above 1350 and as suspected, came crashing down. this could be a false breakout now triggering a daily cycle pull back with a chance to back test 1300 again. However following some other EW counters, the more bullish implication still pegs gold having the ability to push all the way towards the 1380 zone. Which means any pull back now could be shallow. Personally I will only get back into miners if gdx can back test the 24 area. So no harm in either direction where gold will go.

copper

looks like copper has finally made a good drop which could be just the initial leg down. I have sold fcx in the 15s, and will wait for re-entry in the 13s

natgas

natgas couldnt rebound and now looks like it wants to retest or break below the 2.86 area. I will hold onto my position a tag longer with stops under 2.75

[SilverRex]

fcx

here is an updated look at fcx big picture count. a very solid 1-2, 1-2 setup. Currently in an micro wave 4 of 5 of (i). very possible we should see a break above 15.70 to end the initial leg up before a more lengthy correction. wave (ii) to (iii) will be the one you want to be in.

https://s26.postimg.org/unuxtaa2x/fcx_09-09-2017.png

[SilverRex]

gdx

big picture count on gdx. with the way gold is moving and closing strongly above key resistance area. the momentum is extremely bullish with possible big upside move (aka POR point of recognition) is coming. this will happen when gold or miner moves in such a big way that will surprise everyone and that is when the general public begins to realize the recent moves are for real.

because miner has been in correction for quite some time, the various 1-2, 1-2 setups will create multiple sub waves after sub waves. But the green count should remain the outlook as long as gdx does not break below 23.67. If it does it will be an early warning sign that something is wrong. And final bearish confirmation if price breaks under 21 would open up the very strong possibility of testing and breaking below the 2016 December low under 18.58. The orange count will be the bearish alt count. again the way things are shaping, my feeling as well as many EW counter is that gold/miners are in an early stage of a major up cycle shall price prove it wrong otherwise.

https://s26.postimg.org/xpqbgzcll/gdx_09-09-2017.png

[SilverRex]

gdx

countwise I think we are coming up to a sub micro 5th wave finish. yes it can still make a higher high but I am going to take my profit on Jnug after 20%+ run up. Sold 24.955. I will wait for a wave sub iv pull back that should be able to back test the previous trendline breakout as well as revisiting the previous wave 4 low. Since it looks like this wave 3 is extended, we should have multiple wave iv making it a bit choppy.

https://s26.postimg.org/9jdwtejih/gdx_09-06-2017.png

well reposting a previous chart. we finally saw gold pull back the way it should after producing a false breakout above 1350. I am waiting for gdx to see if it can drop into the low 24s so I can re-enter Jnug.

[SilverRex]

increasing my position size on USA.to during this pull back

[SilverRex]

bte.to

possible 1-2, 1-2 setup and backtesting

https://s26.postimg.org/a0mm1hjt5/bte_09-11-2017.png

[SilverRex]

with gold coming down. if a daily cycle top has formed just like the previous reversal pattern (circled in red) then price should eventually break the red rising trendline for a sub wave 2 correction landing some where between 1260-1298

to confirm this, gold needs to break below 1324 and invalidate the current count to the upside. of course, assuming the US dollar fails to break above 92.11 (which is my land in the sand before believing a short term bottom has formed) any further new lows on the greenback would again push gold to further highs with the next target in the 1370-1380 range. If this happens it just means the next backtest will fall into the 1280-1313 range simply the blue box just moves higher.

https://s26.postimg.org/vmorg1c3t/gold_09-11-2017.png

[SilverRex]

scaling back into fcx if this is a sub 4 of 5 correction

natgas looking good again

[SilverRex]

usas (usa.to)

stepping back, the chart looks fantastic with a huge ihns pattern at play. A breakout above this neckline would put down a price target into the 8s. I want to see if it can produce a breakout above 4.50 on volume, then a backtest before launch.

https://s26.postimg.org/68qa461ft/usas_08-31-2017.png

USAS backtest sucessful. looking for it to push higher

[SilverRex]

fcx

count remains valid. so far price has reached low enough to suggest a possible wave (iv) bottom. with wave 4 we should see one more wave higher than 15.70 in the coming weeks. I have scaled in one position at 14.25, since price can often retrace the prior wave iv low at 13.82, I will open another position if price does produce one more drop.

https://s26.postimg.org/vilsvu4cp/fcx_09-12-2017.png

[SilverRex]

gold/miner correcting as expected.

natgas looking good

bte/meg looking good

fcx making a final move under 13.83 imo, might add another position if it can break below this

[SilverRex]

gdx

my current count on gdx. the line in the sand for me is 23.68, amazingly the 61% low lands right at 23.68 for the wave (iii) rally. hence until this breaks to the downside, I will remain in the camp this move down is corrective and looking for a wave (iv) low. it could be a sharp move or could grind out for another week.

https://s26.postimg.org/ek91sb3bd/gdx_09-13-2017.png

[SilverRex]

gold vs Japanese yen ratio

this is another chart I have been paying attention too of late.

ever since gold topped in 2011 and began a 4 year correction. this pair has been pretty much in sync ever since. the moment gold out performs the Yen is when gold begins a new bull cycle. clearly we have some bullish momentum, I see the pair at least testing the upper wedge neckline which will then cause a pause for a good correction. I think this may entail that gold can still surprise which would line up well for the current count in miners taking it up for wave 5 topping. imo


https://s26.postimg.org/g1ui3v821/xaujpy_comparo.png

[SilverRex]

bought back a position in Jnug at 21.19

[Disoblige]

Sucks we are making money partially due to North Korea tensions but it is what it is.

[SilverRex]

Sucks we are making money partially due to North Korea tensions but it is what it is.

gold needs to make a stand here and a strong reversal to close above 1325 for the week to maintain bullish outlook. otherwise, it will head towards the 1280-1300 for the next major support/backtesting. which imo is normal after such a run up.

[SilverRex]

despite US dollar is weak today, gold couldnt get any love from people perhaps fleeing the safe haven. After a false breakdown from the slopping wedge yesterday, and had a breakout to the upside instead would have typically signal the true direction. amid it is backtesting the breakout line, it appears to be struggling to turn around. If it breaks yesterdays low under 1315.49 then the move towards 1280-1300 for the major support will be next. until it does this I will hold on to the ever so slightly diminishing view that gold still has a chance to surprise everyone and make a move above 1375 before entering into an intermediate correction. I am hoping US dollar still has a capitulation move down to the 90 area before truly reversing for a month or two as a corrective counter trend move.

https://s26.postimg.org/5cj7bjxxl/gold_09-15-2017.png

[SilverRex]

fcx

fcx finally made that one more swing lower to hit below the prior wave (iv) under 13.82. now all is setup count wise for it to start making it's 5th wave above 15.70. need confirmation for price to find its way back above 14.54

https://s26.postimg.org/dojjqjkp5/fcx_09-15-2017.png

[SilverRex]

mux

mux never was not able to make it to 3.00 during this 5 wave move up. and wave 2 appears to be fully underway and may have even bottomed. the blue box is a very good buying area before the next move up which should be a very solid rise. The only question is did we just witness a sharp wave 2 pull back or will it require more side ways to lower grinding out a 5-3-5 wave count for the wave 2 bottom.

https://s26.postimg.org/o2fs61g21/mux_09-15-2017.png

[littledan]

Update on Health Care/Cannabis Stocks -
Organigram and Canopy Growth Both Sign
Historic Supply MOUs With New Brunswick
MT Newswires 09/15/17 07:50AM
07:50 AM EDT, 09/15/2017 (MT Newswires) -- Organigram Holdings Inc. (OGI.V), a
licensed producer of medical marijuana based in Moncton, New Brunswick, has
entered into a memorandum of understanding with the New Brunswick provincial
authority for the distribution of marijuana to the adult-use recreational market.
Through the MOU, New Brunswick secures a supply of at least 5 million grams of
recreational marijuana per year from Organigram, a statement said.
Also on Friday, Canopy Growth Corporation (WEED.TO) and the Province of New
Brunswick announced a "signicant
milestone" in the history of Canadian cannabis,
whereby the Government of New Brunswick, through a newly created provincial
authority and Canopy Growth, a licensed producer of regulated cannabis, have
entered into a supply Memorandum of Understanding (MOU) to "guarantee a reliable
and high-quality supply of cannabis products" into New Brunswick's retail stores that
will ow
from a crown corporation newly formed by the province of New Brunswick.
Price: 2.27, Change: -0.03, Percent Change: -1.3

[SilverRex]

bitcoin

I dont trade bitcoin, the one time I was tempted was when it hit 700 a year ago but after discovering how much hassle it was to go thru with it I decided to opt out. No regret because the volatility is sickening. when btc was at 4800, it felt like head lines were coming out just like when gold hit 1900. I would expect a major top to have been in place and currently any bounce triggers sellers to lock in their profits. the only question is, using ccj an example of what happens during a major top. it is possible btc could still surprise everyone with one more leg up. but either scenario in the coming months or years imo should find its way back to the low 2000 area if not below it. Those trading btc should keep this in mind. I am quite surprise at how China is fighting this form of currency so openly After all, all government wants is full control of their citizens and their wealth and so btc go against that being a decentralizing currency. I do not believe btc will ever go away, and I do believe there are opportunities if one plans ahead and waits patiently.

https://s26.postimg.org/4okiadocp/bitcoin_chart.png

[SilverRex]

gdx about to open the day near the key 23.68, with FOMC this week, prepare for some shenanigans.
update: added a 2nd position on Jnug.

natgas still looking good and so does fcx

oil is still flirting with 50, need to convincingly break above this to kickstart energy share wave 3 up

[SilverRex]

locking in some profit here. selling 1 of 2 UGAZ position

[SilverRex]

oil

quick look at oil chart. it does get pretty messy so I stop counting waves. all the overlaps will just drive you krazy. the obvious move came when oil broke the red channel neckline. After an initial false breakout, it finally punched thru follow by a successful back testing. the short term mini head and shoulder points to 51-52 next, price is current consolidating nicely. medium term I see a larger inverse head and shoulder target to retest the 55 area. I still expect oil to find its way to 60-65

will continue to hold my energy shares for the next couple of months

https://s26.postimg.org/4p033int5/oil_09-18-2017.png

[SilverRex]

fcx

big picture count.

again nothing has changed over all. fcx has a clear 1-2, 1-2 count. and we may even have another sub 1-2 completed. my own count I am leaning towards a scenario (orange) where fcx completes a 5th wave of i above 15.70 before a larger degree ABC correction. However there are currently two other scenarios. One is the extreme bullish count in green suggesting the wave ii bottom is in and we are at the beginning of wave iii advance. the other is that wave ii is relatively short in time, and has the potential for another wave lower meaning this rally could be a wave B of C rally.

Even the worse scenario is a revisit of 13.00 to fill the gap left in July. However the bullish upper projection if the green path is on would be in the 28s.

so the risk reward is definitely pretty darn good

https://s26.postimg.org/n3s4b9895/fcx_09-19-2017.png

[SilverRex]

mux

thanks to the share dilution news which came out of left field. the count has been broken. it was perfectly setup 5 up off the low and was merely in correction. Now we have a new wave lower. perhaps a sub 3 down, with 1 more wave lower still. opening up the 1.6-2.09 area.

Long term, this is still a great mining stock to own if you can hold for a couple years. High potential in the 35-57 range, low side in the 16 range. I will contemplate adding another position if it can break below 2.09

[zhao]

mux

thanks to the share dilution news which came out of left field. the count has been broken. it was perfectly setup 5 up off the low and was merely in correction. Now we have a new wave lower. perhaps a sub 3 down, with 1 more wave lower still. opening up the 1.6-2.09 area.

Long term, this is still a great mining stock to own if you can hold for a couple years. High potential in the 35-57 range, low side in the 16 range. I will contemplate adding another position if it can break below 2.09

This is the kinda stuff I've been thinking would happen lately due to whats going on with the company. I was actually surprised it rallied back to 3.30ish, so that caught me out of left field. My crappy personal opinion (based off a few guestimates on what is going to happen) is still hold off until winter on this one. Low 2s I guess is possible, but I personally think their long term outlook is strong enough that it will be very surprising if it does hit that low. (Then again, I was proven wrong that pony would hit $3, figuring it would only dip under $4 and hover around there before eventually going up).

[zhao]

I also think my fav mining stock TV right now is a good buy again. A bunch of analysts recently published their revised opinions and they're all in the $2 range, some upgrading their previous opinions.

1 month from now they'll have announced q3 production numbers and people are going to start doing the math based on average zinc prices over this quarter (record highs) and realize that TV's cashflow is starting to look retardedly good). A few weeks after that they'll release Q3 financials and they'll reflect the math people have been doing based off the production numbers, so we should slow upward movement over the next couple months from this point. any 1-2 day spikes in stock price will likely be followed by a correction IMO also, but still higher than before the spike.

right now the things keeping the stock low are: our short term currency prices, someone dumped a lot of zinc on to the LME market in the last week freaking people out, but the drawdown is continuing to go down regardless, and china's economy being less than the best ever isn't helping.

[SilverRex]

oil

here we go, oil breaking out of the bullish consolidation around the 50 area and onto the next important resistance zone of 51-52

[jacky4566]

I'm glad oil is finally moving my MEG stock back in the black.

Rex do you have any opinion on silver? My research would point to GPL making some moves soon.

[SilverRex]

I'm glad oil is finally moving my MEG stock back in the black.

Rex do you have any opinion on silver? My research would point to GPL making some moves soon.

right now technically, there is a high possibility that gold is merely in a corrective rally. There is a H&S pattern on the US dollar, I am still waiting for the dollar to make one final capitulated low, this will enable gold to make a back test in the 1330-1340 area (not sure if it can muster enough to make a new high). Then as the US dollar finally makes a multi week/month counter trend rally out of an intermediate bottom, this should give the stock market a pause or sell off typical in this period then a Christmas rally into 2018.

so while silver prices may not be going any where immediately, I am continuously looking for opportunity to add to my current holdings. GPL is one of my big 3 silver play. unless it makes a surprising move down 15-20%, I have enough invested to just wait and hold. (care to share some of your research on GPL?)

My other one includes usa.to (USAS) some one who has closer ties with the company continue to confirm positive news and that the sell off recently was due to some silver fund manager changing their strategy and unloading all of there position. This is actually a good thing as it needed a good correction before the next move up. Looking to add more if it can make a 7-10% drop from current levels. and that is a big if.

also the recent report suggesting a depletion of their reserve by 9% may have been negative to majority of investor but a closer look you will notice the measured/indicated increase by 16% and the inferred increased by 37% meaning the company will be spending more money to drill off the new zones and upgrade them to reserve classification. Newer report down the road will show a big increase.

[SilverRex]

here comes the FOMC shenanigans

update: wasnt expecting such weakness in metals. was hoping it would push gold way higher before the collapse. unless things dramatically change by EOD, this hawkish dollar announcement will no doubt hamper any immediate upside momentum in the entire PM complex. we may have to wait until December just like 2015 and 2016 for a low to be in place.

the over sold condition should yield some sort of counter bounce in the coming days. will slowly ease away my leverage and just put those funds into other opportunities as they come.

[SilverRex]

gold

while gold did not formulate a rally out of the FOMC yesterday. but over all I have been eyeing the 1280-1300 area as a bottom. with the sharp pull back straight from 1357-1287, we may have a deeper low ahead in the 1260 area. The over sold condition should warrant a very good trade-able upside rally in the coming weeks before a final wave c drop. gold at the current area is a good convergence point meaning it should turn up regardless if it is in a bullish reversal or simple marking of a temp bottom follow by new lows. if gold turns around here and beings to take out all the over head resistance, then yes this could be viewed has a sharp wave 2 pull back then launch above 1357, however realistically with the US dollar gaining such a strong reversal and having been in decline thru all the whole year gold may need a longer pause before the next major rally resumes.

https://s26.postimg.org/640faonm1/gold_09-21-2017.png

[SilverRex]

picked up a 2nd position in fcx at 13.93 this morning.

[SilverRex]

usa.to

I think usa.to is very close to finding the bottom. while usas has already made a lower low (below prior wave 3) it can certainly turn around here, but would like to see one more 3-5% drop so I can add another position

https://s26.postimg.org/f1tx3oqdl/usas_09-22-2017.png

[SilverRex]

gold

while I expect a good rally for gold to get out of the oversold condition. for timing, looking at previous patterns, one can easily spot how gold does it. gold is currently in a perfect declining parallel channel, it will need to break out from this to make a very trade-able rally. however if you wish to enter sooner, one should wait until it produces a swing low.a swing low is price having to break above the high of the previous high then you can place your stop from that low. so far all 3 prior bottom this year were profitable.

https://s26.postimg.org/cyjhw0qkp/gold_09-22-2017.png

[SilverRex]

mux

finally got the lower 5th wave on mux. added another small position. we could be either looking at the final bottom here or worse case a small bounce follow by yet another micro wave 3 down. Will try only scale in small amount if lower lows are ahead.

https://s26.postimg.org/g9cg9n5vt/mux_09-22-2017.png

[SilverRex]

pop in gold

LiveSquawk‏ @LiveSquawk 3m3 minutes ago

North Korean Foreign Minister: N. Korea Has Right To Shoot Down Strategic US Bombers Even If They Are Not In North Korean Airspace

LiveSquawk‏ @LiveSquawk 3m3 minutes ago

North Korean Foreign Minister: Since The US Declared War, We Have Every Right To Take Countermeasures

LiveSquawk‏ @LiveSquawk 3m3 minutes ago

North Korean Foreign Minister: Trump's Comments Over The Weekend Were Clearly A Declaration Of War


:my thoughts.

technically and count wise, the stock market need to correct. I am expecting a 10% down move towards year end follow by a strong Christmas rally into the new year. I dont mind seeing both US dollar and gold moving up together. it has done this before.

[SilverRex]

usa.to (USAS)

My order under 4.80 was never triggered. it got very close. but I am pretty content if wave 5 has started now that should break above 6.11

https://s26.postimg.org/ep0ve5qbt/usa_09-25-2017.png

[SilverRex]

gold

cant imagine those who sold off late last week from a panic. the oversold was going to help bring gold back sharply. right now I am just going to expect this to be a rally that will be short lived. while it has produced a swing low and also broken out of the down channel. there should be enough momentum to back test the 38-61% fib areas. We will just have to see how the rally looks if the sell off from 1357 to 1287.8 was merely a wave (A) down or just a sharp wave 2. if gold manages to break above and sustain above 1331, then yes, 1287.8 may prove to be a bottom. otherwise, I am expecting gold will find a top some where between 1315-1331, then a lower low ahead.

short term key is price must maintain above 1298.7 and give us a 5th wave higher

https://s26.postimg.org/vne4olksp/gold_09-25-2017.png

[SilverRex]

ccj/cco

have not posted on this for quite some time. ever since it completed the wave (c) of 2 bottom. price has been lackluster coming out of the bottom. using cco for charting this time around, it looks like we now have a 1-2, 1-2 setup. so long price remains above 12.00 I think the next big move is to the upside in a wave 3 advance.

https://s26.postimg.org/pbyei42h5/cco_09-26-2017.png

[SilverRex]

fcx

I have two position lock and loaded. whether the bottom at 13.66 was wave iv or 2, it probablly does not matter. as long as 13.66 holds. it is looking like an ideal 1-2-1 setup ready to make a good move to the upside.

looking for 16-18 for target from here.

https://s26.postimg.org/vxkb9cx3d/fcx_09-26-2017.png

[SilverRex]

sold off my meg holding for 20% profit. now that oil has reached the initial target/resistance in the 51-52. it could go both ways. 55 or back test at 50. will allocate my cash into cco. keeping bte.to as it looks like it has more momentum. will also take my profit if bte moves up another 10-15%

[SilverRex]

gold couldnt hold above 1298, looks like it is wanting to make a lower low. even then this is merely be 5 waves down from 1357. the expected retracement (dead cat bounce) was a bit weak. I am still suspecting a counter trend move back to the 1320-1330s before the next big nose dive. if gold does make a lower low this week, that could be a very good short term trade setup

[SilverRex]

gold

while gold did not formulate a rally out of the FOMC yesterday. but over all I have been eyeing the 1280-1300 area as a bottom. with the sharp pull back straight from 1357-1287, we may have a deeper low ahead in the 1260 area. The over sold condition should warrant a very good trade-able upside rally in the coming weeks before a final wave c drop. gold at the current area is a good convergence point meaning it should turn up regardless if it is in a bullish reversal or simple marking of a temp bottom follow by new lows. if gold turns around here and beings to take out all the over head resistance, then yes this could be viewed has a sharp wave 2 pull back then launch above 1357, however realistically with the US dollar gaining such a strong reversal and having been in decline thru all the whole year gold may need a longer pause before the next major rally resumes.

https://s26.postimg.org/640faonm1/gold_09-21-2017.png

so gold did give us the lower low today. I now believe we finally have wave (A) down. still expecting a counter rally back to the 1320-1330 area follow by wave (C) down into the 1250-1260s.

[SilverRex]

mux

well we may finally have 5 waves down on mux, the only question is do we have an extended 5th wave (orange count) or a bullish beginning.micro sub 1 about to begin. if price can get back above 2.14 I would lean towards to latter. I have already added another position around here last week. if we do get an extended 5th wave down 10-15% lower I will add one more.

https://s26.postimg.org/wnzaxg7t5/mux_09-27-2017.png

[SilverRex]

fcx

yesterday I posted that fcx potentially is in a 1-2 setup. today we have a micro 1-2 setup off the low as well. is she ready to blow? I hope so. I have two position in targeting 16-18

https://s26.postimg.org/tar2aqe89/fcx_09-27-2017.png

[SilverRex]

natgas

still holding onto my UGAZ. its definitely not for the faint of heart. the volatility could shake you out easily. after clear breakout from this triangular consolidation , I expect some strong up move in the coming winter season. so the big pull back may have been some sort of sharp backtest or the breakout. will continue to hold unless price closes below 2.871 with initial target above 3.3 follow by 3.8

https://s26.postimg.org/fmkpjye15/natgas_09-27-2017.png

[SilverRex]

who here is playing crypto currency XRP (Ripple)?

while I wanted to get into bitcoin when it was 700 bucks last year and decided to wait. bitcoin has risen a bit too much and too fast. technically it either has topped (like gold did when it hit 1900 5 years ago) or it may just have one more leg up to 7500 before it crashes. so the potential is limited in the short to medium term.

where as ripple on the other hand has some very interesting features. it is not as established as bitcoin or Ether, but I see some advantages as it has faster transaction speed. I have opened an account on Kraken and threw some beer money into this. A pure spec play right now. My thesis is that the world is not ready for bitcoin just yet since governments and even banks does not have control over this, they will try to outlaw it. I can imagine a scenario where banks and government could adopt ripple to counter btc because ripple can be tracked. given ripple's current price, it has a lot more potential.

[SilverRex]

gold

5 wave down completed. counter trend rally has started imo

[SilverRex]

with gold forming another daily swing low here. going to take a stab at jnug with stops below the low on sept 27th.

fcx completely given back all the gains from yesterday and appears to have produced a false breakout. will reduce my position by 50% in case the alt count down to the 13.00 area becomes the real move giving me a chance for a better entry.

[SilverRex]

fcx

how quickly things can change on a dime. right now, one of the alt count suggesting a wave C low to fill the gap at 13.00 remains on the table. the false breakout has now morphed into a consolidation pattern which can be seen as a 3 pt or 5 pt continuation pattern with follow thru to the down side. so the prior high and low (green at 14.56 and red at 13.77 should now be the focus. I would imagine, which ever one breaks first will be the direction it wants to go.

I have reduced my position size in anticipation for a quick drop to 13 for a better entry.

https://s26.postimg.org/kky98tiq1/fcx_09-29-2017.png

[SilverRex]

gdxj

didnt expect gold to over shoot and open the week on the low side. however with gold being down I see divergences on several gold miners in the green. going to add another position in Jnug. looking for gdxj to hold the fort here on the multi month up channel line.

https://s1.postimg.org/1scznccizj/gdxj_10-02-2017.png

[Mostwanted]

gdxj



SilverRex, just wanted to know if you have any recommendations for Pre-market Charts, I use Td Advanced Webbroker and they dont have Pre-market charts which sucks. Im sure there are other platforms that may have it

[SilverRex]

SilverRex, just wanted to know if you have any recommendations for Pre-market Charts, I use Td Advanced Webbroker and they dont have Pre-market charts which sucks. Im sure there are other platforms that may have it

sorry I dont use any pre-market charting. the only time I need to check pre-market action is just googling it for price.

Im not as active in trading as everyone thinks.

[SilverRex]

gdx/gdxj

so the bounce off the rising neckline yesterday gdxj did confirm a daily candle reversal. today we have a follow thru. short term we should have some upside. gdx also backtested the multi month neckline breakout with divergence and a micro ending diagonal pattern (typical bottoming pattern)

the only question is, we are coming up to China's week long golden week national holiday. previous years, gold tends to get punish during that week and rallies strongly after. So for the short term I do not believe gold can make much stride here and hence I will be looking to take some profit if gold gets near 1300

update on ccj/cco. thanks to the downgrade the sell off has broken the chart and previous count. I will exit and invest elsewhere until I see how it plays out.

https://s1.postimg.org/7ics1sc5fj/gdx_10-03-2017.png

[littledan]

Press Release: SUPREME CROSSES IMPORTANT REVENUE MILESTONE
TORONTO, Oct. 3, 2017 /CNW/ - Supreme Pharmaceuticals Inc. ("Supreme" or the "Company") (TSXV: FIRE) is pleased to announce that 7ACRES' first month of sales exceeded $1,500,000, and that such sales will be recorded in the quarter ended September 30, 2017.

"Our first sales represent a significant milestone for Supreme and demonstrate our ability to cultivate premium cannabis, navigate the regulatory process, and deliver commercial quantities of a high-quality product to our retail partners. Our first sales offer additional validation of our ability to execute on our unique, scalable and focused business model," said John Fowler, CEO of Supreme.

"7ACRES is establishing a new premium product segment in the Canadian ACMPR industry. Our innovative Hybrid Facility combines the technology of indoor cultivation with the quality of full spectrum sunlight to produce cannabis targeted at the premium segment of the market. Our passionate team is committed to maintaining our quality standards as we scale our cultivation. For Supreme, SunGrown is not about low cost. SunGrown is a premium product category produced by combining the science of indoor cultivation and the sun to produce beautiful terpene-rich cannabis," continued Mr. Fowler.

As the leading business-to-business ("B2B") focused Licensed Producer in Canada, Supreme is working toward establishing a standard for B2B cannabis transactions. Due to the rigorous regulatory oversight of legal cannabis markets, large commercial B2B transactions require intensive due diligence. Supreme requires active and potential clients to participate in an industry-leading B2B due diligence process including chemical analysis, pesticide testing, physical inspection and a thorough inspection of the 7ACRES Hybrid Facility.

http://www.supreme.ca/news/press-release-details/2017/Supreme-Crosses-Important-Revenue-Milestone/default.aspx


Read more at http://www.stockhouse.com/companies/bullboard#uryhxzgtHEl0xLEb.99

[SilverRex]

gdx

5 waves off the low, I think miners have started a good counter trend bounce. with a strong US dollar, the idea remains that gold should remain weak towards year end. similar script from previous years with a bit of rise in Oct follow by further decline. At this time I do not expect miners to be able to break the low in 2016, nor even set this year, if it did, it would be a good place to load up

https://s1.postimg.org/17ok1nvnov/gdx_10-04-2017.png

[SilverRex]

natgas

while natgas did rally off the 2.85 area which was encouraging. I only see 3 waves off the low. if natgas breaks below 2.88 I will exit all my natgas position as it does not look pretty. breaking below 2.8 could open the 2.3 area.

edit: natgas made a 5th wave higher. still holding onto my Ugaz positions. will cautiously watch this. if natgas takes out 2.84 I will probably exit.

[SilverRex]

gold

gold's recent bounce remains quite weak. now I am suspecting this to be a sharp A=C move down to the 1240 area. However I do notice miners looks better with China coming back from their national holiday, gold is probably not ready for any sustainable rally until then. Miners may even give us a higher low while gold makes a lower one which would be the signal to lead gold back up.

https://s1.postimg.org/9p0gvp4opb/gold_10-05-2017.png

[max_boost]

How about MJ? Seems to be on fire!

lol staring at profits on aphria and hmmj tempting me :nut: makes me really wished i would have pulled the trigger on that aph pullback to 4.99 lol

[SilverRex]

gold (big picture)

lets step back and just think about the big picture. I am still going to trust that the breakout over the 4+ year down trendline in August was a big deal.

we are merely in a correction and a possible back test.

-4 year down trend broken to the upside

-50/200 EMA about to cross over or open up

also I read a good gold analyst discovering that the quarterly volume on gold traded (includes paper contract) has created a new record volume) something that had not been done since 2011. He stats when this happens, something has changed. He made reference to the same side way grind between 1983 and 2004 when the same volume indicator made a record high, then gold went on to a 7+ year bull market since.

Also the fact that majority are in the bearish camp on the metal complex is exactly what the doctor ordered.

So my bullish gold count suggest we are in a series of 1-2s. gold could either bottom here or even make another ABC.

-miners are starting to show divergence to gold price

-China comes back next week typically fuels gold to the upside

I think worse case gold will just consolidate between the blue zone.

https://s1.postimg.org/3bj1vvf2gv/gold_10-05-2017_B.png

[SilverRex]

gdx

I think we got our lower low on gold today and miners possible a perfect setup for a higher low giving us the divergence we need to setup next week's rally when China returns from holidays. if miners can hold here, we would have a successful backtest of the previous wedge breakout

https://s1.postimg.org/1srm5q7pqn/gdx_10-06-2017.png

[Mostwanted]

Any bank on WHY.TO 1000% Gain JEEEESUS!

[Manhattan]

Shoulda picked up some VIX at all time low yesterday.

[SilverRex]

fcx

despite it breaking above the consolidation over 14.56, it was unable to sustain the rally and already violated the prior wave 1 which turns the move into a corrective structure. nothing has changed really, I am still waiting for the wave C of 2 low some where to fill the gap at 13.00 before wave (3) begins

https://s1.postimg.org/8iwv5kvjn3/fcx_10-06-2017.png

[Disoblige]

I was hoping for gold bounce at 1269 or so. Looks like it bounced at 1263, not bad. The question now is if I have the balls to hold JNUG though the weekend.

Still holding GDXJ firmly at 32.36.

[zhao]

Any bank on WHY.TO 1000% Gain JEEEESUS!


The question is with a 750million deal on a stock with a market cap of 100million, is it going up more?

[zhao]

I sold 100% of my zinc stock in TV at 1.62 on thursday. There is still good support for that price but I feel like it is going to just prolong the stagnation and eventually still fall because it went up too much too fast. 1.36 to 1.64 in the span of a week or so is going to be extremely hard for a lot of people to hold off from taking profit. Soon as the profit takers outweigh the people who think its going to go up forever we'll likely see it dip, followed by the speculators that will panic sell (like every time this has happened in the last 4 months), and I'm thinking it'll dip down to lower 1.50s.

I'm also half expecting someone to flood the zinc market with some hidden inventory in the next couple weeks which will also cause a panic sell and lower the stock price.


I'm hoping all this comes together this week (I've been pretty accurate on guessing what this stock is going to do for the last 4 months) but I think last week being Golden week in China which is a big factor in mining right now might make this week a wildcard and we might see people that were on a traders holiday last week affecting everything in the positive this week. I think its also possible no one floods the market with extra zinc and prices continue to go higher, which means i'll be kicking myself for exiting it on a gamble, but whatever lol.

One thing is for sure is if it dips to around 1.50 or lower i'm going back in full. q3 production reports will be decent. q3 may not be as good as people expect. q4 is likely to be amazing.

[jasonho28]

Quick question for you guys. I Googled online, but couldn't turn up much :)

Why do certain stocks such as TV.to and MUX.to not display updated/current information on my TD or Yahoo Finance App? It seems that the percent change is not updated like other stocks, displaying 0%.

[s_havinga]

Thanks for the update on TV zhao, I took your advice and scooped some up at 1.44. Set a tight stop this morning so I should be safe if it turns. Also, USA has been treating me well the last few weeks, another good tip Rex.

[SilverRex]

gold as expecting is gaining some momentum from China coming back into trading this week.

while it is entirely still possible gold can make another big move down in the coming months. miners also look a bit weak this morning despite gold being up double digit. however I am going to use gdx at 23.47 and gdxj at 34.37 as a key support and will continue to hold my two Jnug position unless those support gets broken. My cost average is in the high 17s.

natgas is scary, as long as it doesnt break under the Aug low at 2.759 I will also hold onto my Ugaz

usa.to is looking good climbing ever so slowly. I want to see it break a new high above sept 6's 6.11 to complete or maintain the bullish count.

[SilverRex]

already posted this on gold last week

just updated a uber bullish path.

right now gold could have ended a sharp wave 2 pull back and will now begin a strong uptrend. or we may have one more low low ahead to truely back test the multimonth trendline breakout.

imo, both scenario is bullish.

https://s1.postimg.org/9f27wpk573/gold_10-05-2017_B.png