Official Short-term Investments Thread

[ickyflex]

Oil closing in on $50.50, hopefully we get a bit of a bounce back

[SilverRex]

Originally posted by SilverRex
my current gdx count with the assumption that gold will move into the same orange and red box from the chart I posted.

this is a clear trendline breakout when gdx pushed above 23.60 and so we either get a back test of this line some where down the road or a worse case a retest or undercut test of the alt A low. either scenario I do not believe we will break the low of 2016

I am keeping my powder dry to take advantage of any incoming weakness

so far miners are moving to script. looking for bottom in the orange or possibly even the red zone.

price should give a bounce considering it has backtested the previous trendline breakout and 200EMA

[bspot]

BTE going for the old double bottom? I'd planned to peel off half just under $5. Never hit. Pretty disappointed as now I'm unable to load the boat in the low $4s.

[KO22]

NM

[SilverRex]

here comes the bounce for gdx as it backtested the previous trendline breakout and 200EMA.

going to expect this to be a dead cat rally unless price close above 24 then it would be interesting

[JDMMAN]

Anyone in on CVE.TO? Looks to be an awesome buy below $15

[ickyflex]

BTE close to 52 week lows here.

It amazes me that Canadian O&G are trading at prices lower than when crude was at $27

[riander5]

Anyone on this damn board know anything about the cyber security business

PANW .... moms bf is in IT security he made a KILLING swing trading them.

Seems i missed the boat

[Manhattan]

Originally posted by ickyflex
It amazes me that Canadian O&G are trading at prices lower than when crude was at $27

US and intl investors have left Canadian energy just as Shell and CP did. That will deflate things in a hurry. Trump spoke out against dairy today and added Cdn lumber and energy to the list of targets fwiw.

[suntan]

Originally posted by ickyflex
BTE close to 52 week lows here.

It amazes me that Canadian O&G are trading at prices lower than when crude was at $27

BTE's got a fuckton of debt, people are concerned that they're not going to be able to meet their obligations. CVE's going to issue a megaton of equity thus dilution will occur, and they're going to take on mega, mega debt for Conoco's oilsands assets.

[ickyflex]

Maybe if Trump finally gets this NAFTA and BAT shit out of the way we can get back to some regular trading

[zhao]

Originally posted by JDMMAN
Anyone in on CVE.TO? Looks to be an awesome buy below $15

yes. bought at 14.30.

i may dump and re-enter, but at 14.30 i think it is a good buy if you're going to be looking at it from a year in the future backwards.

There is a very good chance that it will hover around that price or lower and then go up a decent amount, but IMO it's a 6 month+ wait. The problem with CVE is it has 6 months of 3 billion $ in shares getting flooded onto the market.

I have a feeling people are dumping it right now anticipating a bad 1/4ly report next wed? and we may see it rise next week if the report is ok.

[SilverRex]

fcx

a reminder of the big picture count. one of the better EW charts out there. nothing has changed that once fcx begins to move the 1-2, 1-2 setup would yield a very good return in 2017

still leaning towards the bottom being formed at 11.92 however the latest correction does exceed the typical 61% low under 12.55 which is a concern, so the worse case scenario would be one more lower low under 12 which could be a bear trap

this is one of those stocks I am not afraid to hold this year.

[SilverRex]

AUY and KGC are holding up very well. both having to breakout from their downtrendline and so far is confirming the breakout with a successful backtest. KGC is even more bullish being a Ro4

I wonder if this is a prelude that something big is coming and this sector would be setup for an immediate uber bullish turn that will throw everyone offside. (gold continues to flirt with the same breakout and hasnt really given shorts much to be excited about. A thrust for gold above 1300 would be a pretty crazy event imo


adding back some miners with stop just in case the french vote cause a huge risk on appetite

also oil is getting close to my mental stop if it closes below 49.55 I will be exiting my energy trade

[ickyflex]

Originally posted by SilverRex
with equities starting to act like the next rally is underway

will oil get dragged higher? or does it still needs to make its correctional range by testing the 50-51 area.

watch if oil can breakout of the down channel to follow stocks higher.

i am jumping the gun on bte as I always do.

my own line in the sand is that I will exit all my energy position if oil closes below 49.55 until such a time, I remain optimistic

Getting close

[SilverRex]

Originally posted by ickyflex


Getting close

well it has already taking out the 49.55 area and so I am exiting all my energy trades. putting my funds into fcx instead

sure oil appears to be finding some very short term buying support at 49.5, it could very well bottom here and it needs to be fast, but im done with energy for now. there are better plays out there

[KO22]

Oil, why you do dis

[Vanish3d]

How come GDXJ closed slightly green but JNUG is negative?? JDST is slightly negative too.. Wtf

[SilverRex]

Originally posted by Vanish3d
How come GDXJ closed slightly green but JNUG is negative?? JDST is slightly negative too.. Wtf

due to asset re-balancing gdxj/jnug is messed up. I would avoid trading this until the dust settles. Not to mention another reverse/forward split is coming up.

[SilverRex]

gold

so far the French election isnt helping gold much. but due to the resiliency of the metal, technically it isnt damaged just yet.

line in the sand to remain bullish is to see price hold above 1263.87 and especially 1260.70, these two levels are previous wave (i) and wave i tops which needs to hold in order to keep the bullish count intact.

gold is also moving down in what appears to be a widening wedge pattern (which can be bullish as well)

as you can see ever since gold failed to break out and confirm above 1291, price has since struggled and continues to get knocked down. obviously this is the final hurdle for gold and would bring in a rush of buyers if bulls can take this area. obviously the safest bet one can do is wait until price can break above the upper orange channel

the bearish case has long been my view for a couple of weeks and I acted accordingly, though late Friday I have added back some position in case gold takes off due to the election. But I will hold on to those shares as long as gold remains above the two levels above.

if those levels are broken, I will just exit to short term position and continue to wait for 'the drop' there is also some sort of major turn date around June 19th. which could either signal a top in gold (like 2016) or a low. I would imagine a low if gold does become more bearish by taking out the two support levels in the low 1260s.