Official Short-term Investments Thread

[SilverRex]

gold bounced up again, then again, it could offer yet another good reason to short it with smaller risk knowing 1303 is the previous top.

no one says gold has to go down straight, considering how many people missed the rally off the bottom, it will be a slow and painful grind. silver looks like it is forming a H&S top that could target the low 16 again.

ive read some analyst is calling gold is in it's final 5th wave up (if true) it can break 1303 to form a final top so keep this in mind and watch price action

[el_fefes]

I've been watching Canadian Solar and would have bought if I had funds available... CSIQ. Nice pop on the stock so far after earnings.

[BavarianBeast]

Originally posted by BavarianBeast
SCTY is on sale for under $16

Should be back over $20 in 2 weeks imho.

Looks like that might only take 2 days

[SilverRex]

61% retrace of the entire 3.46-7.84 run for meg is around 5.13 (adding another position here)

also picked up pwt for a small play

[SilverRex]

huge oil draw down on inventory. guess I lucked out lol no, buying purely on technical grounds here

[troyl]

HSE has raised a load of cash from asset sales. Close to $2.5B in the past weeks, maybe they are looking at MEG.....

[SilverRex]

Originally posted by troyl
HSE has raised a load of cash from asset sales. Close to $2.5B in the past weeks, maybe they are looking at MEG.....

it will too funny if Meg suddenly starts getting buy out rumors, one can only hope lol

[phreezee]

I doubt HSE would spend a big chunk of that cash to buy more debt lol.

[Manhattan]

Don't think anyone would buy MEG at this point but there was something on BNN about a MEG & Cenovus merger that would make sense.

[SilverRex]

looks like a breakout to me

if sustainable and does not break below 43 which would be significantly bearish, then the low is in place and we 'should' from a technical view to begin a new leg up towards 50 oil

[SilverRex]

if meg closes green it would look fantastic chart wise with a nice reversal candle to attract fund buying

[s_havinga]

GO OIL GO

[riander5]

Oil going to the moon

Completing wave C of correction

[Manhattan]

Originally posted by BavarianBeast


Looks like that might only take 2 days

Just one day haha

[ickyflex]

damn MEG lol

Short interest was up quite a bit I heard. I can't find the numbers though

[riander5]

Originally posted by bspot
I feel like a battered wife with LABU, but I've been forcing myself to hold the majority of my position. Lets see if this flag gives it another good run.

Hope you arent still holding

[bjstare]

Originally posted by riander5


Hope you arent still holding

Am I ever happy I got out of that yesterday.

[bspot]

Originally posted by riander5


Hope you arent still holding

I did the worst thing.

Stopped out at 26.5, my plan being if it broke support above that, I'd watch it down and look for a good entrance opportunity.

When XBI poked it's head above the $52.43 resistance on the 15 min chart, all the way up to $52.57, I thought that resistance was broken, and it was going to make a new high.

Jumped back in

As soon as wave C on the 15 minute chart started to look stupid monsterous, I bailed.

Would have been really, really happy just staying stopped out at $26.5. Need to learn to stick with the plan from the night before and just sit out if things don't go as expected.

I now decided I need a break from biotech and increased my MEG position at the end of the day hoping for a further breakout in oil while I wait for biotech to sort it's shit out and make sense again.

So.... look for a big gap up in LABU tomorrow morning

Edit: I should mention I got in at $23.9. So didn't lose, but pissed away a lot of profit (again)

[el_fefes]

What's going on with MEG? Oil goes up, MEG goes down even though they posted a profit?

[riander5]

That blows. At least you can admit your mistakes and hopefully learn from them.

Personally I would have played it a bit more cautious... XBI 1h and 4h being overbought. Also im not sure what pattern this is in now.... the wave A of the correction smashed down far below wave 4 of the previous trend... signalling at the very least it isnt a simple correction anymore.

Ill be keeping my eye on XBI for the 1d 4h and 1h to line up for another buy

Ill also be watching NUGT for some bullish trades in the next few days as well