Official Short-term Investments Thread

[Vanish3d]

Originally posted by SilverRex


there is an invert head and shoulder pattern that at a rate of 60% probability as always with these pattern would target gold to move back to the 1210 area, at least retesting the 1202 which is now resistance.

so pray gold gaps up on monday.

so it did exactly that. But I sold it at open for a small profit because I saw it go down.... now kicking myself.

[riander5]

Originally posted by cjblair


I'm guessing he meant because the markets on which you trade ETFs are only open for 8 hrs? (unless I'm missing something).

Yea thats my point exactly. Futures markets are open all day monday - friday

I mean i dont trade futures, may trade a bit of currency coming up here, and Iv traded lots of ETFs, but everyone here LOVES JNUG, and wakes up to massive gains or losses and when you are day trading as many are, why take yourself out of the game for 2/3 of it?

At least in futures you can set a stop loss that wont get blown past after market.

[bjstare]

Originally posted by Vanish3d


so it did exactly that. But I sold it at open for a small profit because I saw it go down.... now kicking myself.

I decided to hang on to mine. Glad I did. I'm hoping the strength in miners is a leading indicator to gold strength, guess we'll see.

[SilverRex]

5min negative divergence, cant help but think if gold needs to head back down to test 1179 one more time.

going to try my luck to see if this is a fake breakout. selling my Jnug position to see if I can buy lower again.

if not, I have plenty of other position to ride this wave. if miners is as bullish then it has a good shot at reaching 23-24 for gdx and 37-38 for gdxj

[Kloubek]

Bought LABD. Sold for a 7.5% profit on the day. Not bad. Would have made more if I stuck it out.

I'm done with stock "tips". Just going to ride the waves from here on in.

Good on you with jnug. I considered it, but didn't move early. Too late now....

[secol]

sounds like the emblem emc ipo might be delayed until december 2

[bjstare]

Glad I unloaded JNUG near close yesterday. Held Kinross, will probably keep it for a while and add on dips.

[Disoblige]

Originally posted by secol
sounds like the emblem emc ipo might be delayed until december 2

December 5th for now

[SilverRex]

well i am pretty sure it was pure luck. but bought back Jnug at 6.61 this morning. Still looking for gold to retest 1202-1207 area. will put a metal stop loss if jnug breaks today's low

[SilverRex]

looks like fcx finally completed its sub wave 1 of 3. looking for a good pull back into the 12-13 area to start loading up. GPL/GPR.to is looking good

[SilverRex]

quick chart post on gdxj

as you can see it was indeed a false breakout, with gdxj out performing gdx, and gold down a few dollars gpl and ag are actually in the green. it feels like there is more buying pressure. and so it is hard to believe miners would make a move down now. if anything I am still anticipating a back test of 1202 resistance which will fuel miners (gdxj) back in to the 37 area.

perhaps the final leg down to a lower low could occur on the december fed rate hike. (just like 2015) then gold will resume another 5-6 months upswing. seems the pattern is to hold this sector for 1st half of the year, and unwind in the bottom half.

a bullish count (if the bottom is sealed back on November 14) then gdxj will break above the 200DMA and previous wave (i) to invalidate the possible lower low count at 38.79

this is why I will hold my core holdings. just in case the next multi month bull market resumes.

[SilverRex]

for those waiting on biotech.

I was waiting for a wave 2 pull back. however biotech already bounced off the 38%, so an extremely bullish scenario, the wave 2 pull back may have been finished. if so, then watch for the next time it breaks the down trendline. the next move will be even a more powerful one.

I was hoping to see it fill some gap and perhaps get back down to the 50 or even the 61% retracement level.

one could open a position here and buy further upon each drop.

also noticed how there are many sectors or chart showing a powerful wave 3 ahead of it? that is because we are about to move into a very inflationary phase. the recent collapse of the bond market will no doubt drive alot of liquidity into all other assets.

a secular or generational market crash will not occur until we hit a parabolic bubble phase.

[SilverRex]

for oil, get ready for some wild volatility, pending Opec news, oil price could swing 5 dollars in both direction.

I have no holding in energy due to the technical picture looking weak. but if oil dives towards 40 or even briefly below it I will be a buyer

[SilverRex]

setting a mental stop loss on gdxj under 34.67

[bspot]

Got out of LABD today. Take my gains while they are there. Last time this burned me as bio dropped like a rock the day after my sale, but with some big news events tomorrow, I prefer the sidelines.

Dumped my leveraged miners and oil too. Not big gains on anything, but the trend has no clear direction right now, so I'll take profits and wait.

Still holding ROG.V (Roxgold) which had some good geo results for a nice pop and GPR.



Question for everyone, I'd been using HGU/HGD and HOU/HOD lately, but hate the fact I can only set stop limit orders, but the limit price is equal to the stop price (Virtual Brokers).

They told me this is an exchange thing.

For example, if I buy a US security, like UWTI, and it gaps down below my stop in the morning, it will sell on open for market price.

If I have a stop on HOU, and it gaps below the stop, which is a limit stop, it won't fill as the limit price isn't met.

Bag holding ensues.

With non-shitty brokers are you guys in the same situation?

[troyl]

^ No. if a security gaps down below my lower limit on my stop it will not turn into a mkt sell.

[secol]

OPEC deal done to cut over 1M in supply

[Kloubek]

Look at oil stocks go crazy. Almost 10% up across the board.

I'd sell right now and realize that gain if I wasn't in the long play.

[SilverRex]

i was hoping Opec to turn oil price down because I think oil is headed to 70 dollars regardless of what Opec does. I guess they have just turned the market around?

dont rule out the buy on rumor and sell on news.

as for miners, another false breakout. after a slight bounce this morning, I am setting my stops below today's low.

update. gold testing the previous low at 1170. will it be a double bottom? or 1150-1160 on the horizon?

I thought I placed a stop limit on my Jnug, turns out I actually just sold at 6.75, talk about a mistake not against you.

well I am going to take a shot in the dark and place a bet we have a double bottom in gold, buying back my jnug at 6.50s.

[swak]

Im surprised KMI didn't do better this morning given Trudeau's announcement last night after the markets had closed NYSE.

Going to hold for a couple says see what happens.