Official Short-term Investments Thread

[SilverRex]

oil_

after 5 waves up, possible wave (a) down and counter rally in progress for a wave (c) low some where between 48-49

however alt count is also possible with a 5th wave not being completed and currently in sub 4 with a higher high to come.

both count continues to support oil strength in the near to medium term imo

[SilverRex]

fcx

todays move appears to be the alt count wave 3 of 3 being started on fcx. if this is so, then fun times ahead

[ickyflex]

Originally posted by SilverRex
oil_

after 5 waves up, possible wave (a) down and counter rally in progress for a wave (c) low some where between 48-49

however alt count is also possible with a 5th wave not being completed and currently in sub 4 with a higher high to come.

both count continues to support oil strength in the near to medium term imo

Well there is the 48-49 lol

[SilverRex]

well looks like fcx pop was another head fake. back to the 11.50 target area for wave 2 bottom

as for oil, if the 43.73 to 51.97 rally was really (leg 1 up), correction should not break below 46.87 imo.

until then will have to see how it reacts at these level. some are saying the move down is pretty impulsive, but I'll use the 46.87 as line in the sand. and continue to keep a bullish tone in this sector

[zhao]

today was a pretty good day, which saw everything i want to buy plummet.

CVE and ACQ hit new all time lows, but showed no sign of losing momentum downward so I'm continuing to avoid. THey're getting mighty interesting however.

APH lost about as much, and doesn't show any signs of slowing down its downward trend either so I avoided as well.

PPY (or Pony as they list now) fell pretty hard today as well, but flattened out for the later half of the day. I ended up buying in at $5.25 with all my settled funds available figuring there is a half decent chance that might be the turning point. It pretty much fluctuated at that give or take a penny for the rest of the day, without seeing any crazy sell off or buying at the end of the day.

This is the same pattern I saw with CHR, which is has a pretty strong W going.

I feel tomorrow might see Pony rebound a bit as well as it has the makings of it's own lazier W pattern potentially developing.



CHR had another good day of slow progress upwards. I might dump this one sooner than I think for a quick 3-4% profit. we'll see what it does tomorrow and monday.


I have some settled funds activating tomorrow, but i'm probably not going to buy anything more until i sell something.

[SilverRex]

miners are pretty lack luster today compare to gold's performance, if it doesnt break up in force today it could be setting up another wave (c) down

[zhao]

The BC NDP raped my NG portfolio today. Maybe its fluff, maybe people panic selling is valid, but I doubled down on painted pony after it fell about 10% today so I'm in the camp that it should be fluff (the NDP made a stance supporting NG before). I dont think they're going to turn off their cash cow, nor do I think they're going to hate on natural gas as hard as people think. You either go nuclear or natural gas if you want reliable 'clean' 'cheap' energy for your power grid. Hydro isn't doable for everywhere.

[SilverRex]

picked up 1 position in ccj now that it finally made a new low under 9.34

update: I trade in CAD so my position is at 12.27 w/ cco.to

[BavarianBeast]

Can anyone lend me a boost? i can't reach the noose

[max_boost]

Aphria

Is it time to average down yet? In at 6.73 and now 5.25 lol

[littledan]

ya, wondering the same thing on SL.CN .

Bought in @ 1.75, again at 1.65, then again at 1.45...

I'm holding some APH I picked up at 5.65....

[STI]

Massive inventory draws. Crude hitting $50+ by 8:40am.

[SilverRex]

ccj

it took quite a long time but the wait was worth it. ccj finally broke under 9.34 and 5th wave down in progress.

I have opened 1 position yesterday. alt count suggest it is possible we could still get a lower low, and so I will contemplate a 2nd position if this happens, otherwise the fact we are in the final move down, I rather set myself up so I dont miss it or get too cute trying to time the perfect bottom

[SilverRex]

fcx

after fcx 5 waves off the bottom on May 17th. the 3 wave correction I did not expect such an over shoot to the downside. for the time being I am still considering the latest move down as a wave (ii) correction. as long as we trade above 11.53, then this count remains valid imo

if the count is real, fcx needs to begin moving up aggressively

[SilverRex]

ccj 5 microwaves off the bottom, looking promising

[littledan]

ALERT! Supreme pharma will start trading on TSX-V on June 6. Stock jumped up 0.08 to close at 1.47 today.

http://www.marketwired.com/press-rel...sl-2219858.htm

Ticker will be FIRE.... LOL

[SilverRex]

gdx

gold is currently challenging the multi year down trendline, the very same one that has held gold back on every false breakout in 2016 including the Trump election night rally.

will it breakout and catch everyone off guard? who knows. but cycle guys are still looking at a summer low in the coming months. so I can only lean a bit towards more consolidation or perhaps even a slightly lower low for miners

but looking purely on gdx this morning, clearly we have a neckline breakout on the backs of a inverted h&s pattern which is tarting the 23.8-24 area.

as long as price remains above 22.45 I will view this as a pretty good risk/reward short term play

[BavarianBeast]

Originally posted by BavarianBeast


Will do.

Anybody thinking about getting into Source Energy's IPO?

https://www.bloomberg.com/news/artic...in-toronto-ipo

Dayum.

$11.50 IPO 8 weeks ago. Sitting at $7.50 right now.

[max_boost]

dang 4.92 low for aphria today lol

[BavarianBeast]

Originally posted by max_boost
dang 4.92 low for aphria today lol

double down, no sense pussy footin around