Official Short-term Investments Thread

[SilverRex]

right now clearly miner is out performing gold. despite gold being down, miners are virtually side ways. if only gold can do it's part and move a few dollars higher would ignite the sector

[bspot]

Originally posted by bspot


Anyone jump on it?

Hit over $2.50 already today.

I'm going to continue to let this one run.

Looks dead for now. Out at $2.41.

20% locked in.

[bspot]

Took another swing at JNUG.

GDXJ back touching the long term up trend:


» Click image for larger version


Gold doing the same:


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The X factor- Dollar index getting squeezed:


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[SilverRex]

gold down but miners have a slight positive buying, probably due to new month with investor funds seeking value play.

however with all the talk of gdx heading down to 22 and even 18 now I hear, be prepare for this scenario as market loves to shake everyone out before a big move.

if we see gold drop to the 1260-1270 area that could be an extremely great buying level.

although from experience, it feels a bit too easy for everyone to expect gold to just keep dropping without a big rally.

I rather see a false breakout move as market loves to mess with both longs and shorts.

[el_fefes]

Any thoughts on UGAZ? Recent move from $45 to $35... time to buy again?

[SilverRex]

Originally posted by el_fefes
Any thoughts on UGAZ? Recent move from $45 to $35... time to buy again?

Natgas is a good play but you have to stomach the volatility. with places getting cold and winter upon us. I think natgas has good potential.

I have 1 position, and may add another if it drops more from here.

[bspot]

Originally posted by bspot
Took another swing at JNUG.

Sold at open for a small gain as the trend line was broken by the gap down. Phew.

[SilverRex]

personally I was hoping gdx still moving within the triangle pattern, the rally last week was very weak and cannot even make it 2/3 to test the upper channel. wave E typically can fail at the 2/3 level, but we did not even achieve that.

with gold making lower lows, it has not helped the miners one bit. it is now right back at the bottom of the channel. a close below 26 would probably mean lower low for gdx is underway.

however, contrary to everyone now calling for gdx to at least hit 22. I am going to play the contrarian factor and suggest if gdx breaks down this week, the 24 area makes for the perfect landing spot. I will convert some holdings over to Jnug if this level is reached.

[Vanish3d]

GDXJ and gold are flattening. Might be a good time to jump into JNUG

[ercchry]

Originally posted by ercchry
BLO is finally getting some momentum! Super happy that I liquidated 1/3rd of my position yesterday.... not

Up another 27%

I've been waiting like two years for this to happen, product isn't even out yet so hopefully it keeps on climbing!

[bspot]

Originally posted by Vanish3d
GDXJ and gold are flattening. Might be a good time to jump into JNUG

Flat for too long. No signs of reversal. I think the elevator has another stop lower.

[Vanish3d]

I'm in at 16... hopefully if there is another stop lower, it's not TOO much lower.

[bspot]

Originally posted by Vanish3d
I'm in at 16... hopefully if there is another stop lower, it's not TOO much lower.

Right after I posted that it showed signs of a bottom.

I screwed up, was in at 15.80, but bailed at 16 after it was looking flat on low volume.

Had to re-enter higher, average 16.36.

If it does drop lower, I'll just double up.

[SilverRex]

hold onto your seat belt here comes the break under 1300,

it is clear that gold has moved out of the rising channel. very weak for the short term, we will now see if the bottom of the flag continues and see if gold will bounce off 1297 area.

price is oversold as well so we will see if gold wants to test 1260-70 now or wait for another day.

as I have said, the general technical outlook for gold is a test of the 200EMA and gdx down to the 22 area. my personally believe is a false breakdown or an under cut low with gdx near 24

[Vanish3d]

I want to cry this morning.

[SilverRex]

Originally posted by Vanish3d
I want to cry this morning.

well we've been thru these kind of swings too often, not easy to time the market, so having cash to relatively scale in on each significant drop is the best approach imo.

i am fully invested but only with 15% Jnug. will begin buying another large position if gdx hits my magic number near gdx 24. and if it does head lower to 22 as some analyst is calling (which I will be surprised but not shocked either) will start converting my core holders into leverage.

with gold now having a strong sell off candle, a typical safe play is to wait until gold makes a swing low and stabilizes like it did similar to back in May.

[SilverRex]

if anyone hasnt noticed, many big mining stocks like abx, auy, kgc, ag, gg are hitting their 200 day moving average this morning.

so we will see if this is where the funds begin to load up. It is still possible if we follow the 2008 bull market path, miners can put in an under cut low this week considering we have broken the late august low to fulfill the lower low drop and possible divergence to occur if price swing back up.

EOD today and this week will be telling

[SilverRex]

we are like 20 cents away from gdx testing the 38% fib level which I think it hasnt done all year.
with the rising neckline just under neath which I am trying to guess, this could be potentially the very first good bottoming area.

again majority of the technical analyst I follow are still calling gdx down to at least the 22 area. can it be that simple? I am placing my bets near gdx 24 as any timing mistake at this juncture will be corrected and recovered much easily than those who over exposed themselves at the top. I cant imagine how those still holding gdx near 30 are feeling right now

[bspot]

Originally posted by bspot


If it does drop lower, I'll just double up.

Done and done. Looks like I was onto something yesterday. Fear of missing the big up move caused me to bail on my plan to wait for one more drop.

Would have been nice to scale in starting here, but oh well. As it drops, it every new position is that much cheaper and being I was sitting 60% cash before this, lots of opportunity to add all the way down and negate early losses.

[Vanish3d]

wow....
I'm definately over exposed with JNUG.
Selling now is just as stupid as loading up heavy in the beginning. It just looks like there is no bottom

is 22 even the bottom??