Gold
been waiting for gold to breakout of this 6 week long consolidation funk. will today be the day? still waiting for gold to backtest the 1240-1260 area.
Gold
been waiting for gold to breakout of this 6 week long consolidation funk. will today be the day? still waiting for gold to backtest the 1240-1260 area.
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2019 IS350 AWD
20xx NX350 AWD
gdx
if gold infact has a real breakout this week, then I am also incline to expect gdx to make a move to challenge the 20-21 area. regardless this is only another major 3 wave correction with lower prices to come or a real move beings. the 20-21 area will be a major hurdle considering how many times it held as support over the past year. I will be taking my position off the table when it reaches this zone and reassess.
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2019 IS350 AWD
20xx NX350 AWD
with miners breaking out. Gdx specifically, will need to hold above 19 to keep things exciting...
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2019 IS350 AWD
20xx NX350 AWD
with gold down today. gdx is getting close to 19. if this is a move towards 21, it must stay above 19. otherwise, this will immediately turn bearish and become another corrective A=C ABC wave wave counter trend rally with new lows ahead.
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2019 IS350 AWD
20xx NX350 AWD
Any update or thoughts on the MJ sector (ACB, WEED, APH) before Wednesday's legalization?
I still expect one more high in the big 3 and still holding onto the notion buy on rumor and sell on news. once MJ legalizes, I think I want to expect a much larger correction.This quote is hidden because you are ignoring this member. Show Quote
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2019 IS350 AWD
20xx NX350 AWD
APH just had their earnings today and Vic was on Midas Letter just now with no big news. APH is now doing a small dump and probably closing under $20 over the weekend. Maybe even under $19.
ACB still hanging on, but I would be surprised if we even hit $14 next week unless they actually announce the NYSE listing date. I personally sold most of my ACB to protect profits and looking to enter again at some point later.
ACB all time high!
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Not sure if anyone got in. Up 39% today.This quote is hidden because you are ignoring this member. Show Quote
CPG is just getting destroyed.
well what do you know, a new high then huge sell off. it was sell on news after all. which has always been the theme with the hype. Now companies will have to show their numbers so the real winners and losers will begin to separate. If the Weed sector has topped, we could be looking at a multimonth correction.This quote is hidden because you are ignoring this member. Show Quote
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2019 IS350 AWD
20xx NX350 AWD
Yup...This quote is hidden because you are ignoring this member. Show Quote
I wonder if there is a bottom fishing play available if the weakness today is overextended. I may enter an overnight position if some of the big names are 20%+ down before close. Quick in and out.
Also, ACB is expected to trader on NYSE tomorrow, so it will be interesting to see what happens there of we get a slight pop or further downside.
Grabbed some PONY and BTE today. I wish I had the balls to grab LABU at the open like I debated, but I'm still spooked there.
gdx
im surprised gdx wasnt able to muster enough momentum to hit the big resistance area around 21. Now that it has overlapped the previous wave high, chances are lower lows could be ahead. However gold remains strong and if gold can still hit that targeted breakout move to 1260, it could turn gdx into a bullish 1-2, 1-2 count. for the being I would say the count looks neutral. and closing below 18.14 will be the final nail to confirm the more bearish ABC headed downwards.
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2019 IS350 AWD
20xx NX350 AWD
Picked up some Nintendo shares this morning . Good entry opportunity imo.
Weed
now that the legalization is behind us, I continue to believe its buy on rumor and sell on news. the MJ sector should now begin a multi-month decline at the very least for a very significant correction. Until companies can begin to proof themselves with real profits, then the next mania phase will begin.
Now unless this sector surprises everyone and suddenly catches fire and makes a new high, then you may have an extended wave 3 of 5 of 5 occurring so this would be my alt count in green. however I am still leaning towards a major correction taking place and we just had our first 5 waves down for 1 of A. Yes a serious correction could come all the way back down to the previous major wave 3/4 range which is in the 6-18 zone. a typical wave 2 could easily break below 6 bucks if Elliot wave wins yet nothing is ever 100%.
my recommendation is to think for the long haul and save your cash for a better entry. if your still riding, I would start scaling out or taking profits off the table immediately during this counter wave 2 bounce up.
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2019 IS350 AWD
20xx NX350 AWD
If anybody wants a medium risk, high reward, check out SHLE (Source Energy Services). Figure you can flip for a 100%+ gain by 2019 Q1 results.
I'm curious what your thoughts are on why? I don't see much fracking happening in 2018 Q4 or 2019 Q1. Did I miss something?This quote is hidden because you are ignoring this member. Show Quote
Curious as well. Broke its 52w low. Maybe some juicy insider titbits?This quote is hidden because you are ignoring this member. Show Quote
Couple reasons, they've got a ton of contracts where they will be able to recognize revenue on beginning in the new year. I think LNG is going to ramp up in Canada in the next short bit, firms will need sand? Chinese are buying our oil hand over fist. Management is facing a ton of pressure to purchase at these levels, my guess is the management team will start accumulating a ton of shares in the next few weeks.
It's definitely a bit of a crap shoot, but I think there is quite a bit of upside at these levels. I only allocated a 2% stake from my overall portfolio towards it around $2. Will hold until May..