Official Short-term Investments Thread

[Disoblige]

I am not sure what's going on with GDX and GDXJ but not liking the correlation. I'm considering significantly downsizing my exposure to GDXJ. Just looks weak in relation to gold.

[SilverRex]

xrp (ripple)

so far it managed to breakout and holding above it. I was hoping it would channeling the bottom of the wedge so I could enter near 10 cents for a 2nd position. This is pure spec for me nothing major but I see this being a very good counter against BTC as a digital currency for the banks/gov.

[SilverRex]

mux

after mux bottoming under 2.00, I would like to think it is now in new up cycle.

[zhao]

I'm happy i sold TV last week. This stock is back to being totally predictable. It had a couple very quick spikes where i could have sold at 1.63 but thats it, and then it stagnated and started going down like I thought. I have a bid order set at 1.50 in case anyone big pulls out profit and the stock spikes downward. I'm not sure how much lower it will go (briefly was at 1.54 today) but if more hidden zinc stockpiles are released on to the market tomorrow I think we could see a panic sell happen and this thing may go down deep in to the 1.40s again. If zinc stockpiles start going down again, or staying the same, we will likely see some price stagnation or very slow growth upwards until the next explosion caused by zinc prices or zinc stockpiles hitting the next emotional barrier.


Q3 production report i'm speculating will come out between wednesday of next week and wednesday of the week after, which should shake things up good or bad (probably good) so I'll likely buy back in in the next few trading days unless it leaves me behind at the pier. I'm not expecting to see a price spike from that; more insulating the stocks current value from falling significantly.

[SilverRex]

oil

after a good healthy correction. initially oil in the 52 was a good resistance area. a backtest to 49-50 was needed and completed. now we have a good 5 waves up follow by 3 waves down. if oil can close above 50.58 we may have wave 3 in progress

big picture still expecting oil to find its way in the 60-70 area

[jacky4566]

FCX:

The technical in me is seeing a head and shoulders. But Gold is set to rise before the end of the year or so I hear?

Anyone else with thoughts?

[SilverRex]

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fcx

despite it breaking above the consolidation over 14.56, it was unable to sustain the rally and already violated the prior wave 1 which turns the move into a corrective structure. nothing has changed really, I am still waiting for the wave C of 2 low some where to fill the gap at 13.00 before wave (3) begins

thats my expectation.

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natgas

as I said before, still holding onto a bullish view unless it breaks below 2.759, it came within pennies. Can you say too close for comfort? still holding onto my Ugaz.

[SilverRex]

miners have been under-forming 2 of the 3 sessions on the backs of strong gold. since my initially take is that the 1300 level for gold is a major resistance. I am going to exit my Jnug with a slight profit and wait for a better entry

[SilverRex]

very nice to see natgas having follow thru now retesting key area 3.00, will set a metal stop below 2.93

[SilverRex]

fcx

with a strong copper price making new highs fcx refuse to drop to the wave c low in the low 13s. if it breaks out here, it will be considered a Ro4 rule breakout which is pretty significant. MT chart remains strong expecting 20-24 area as MT target based on the various levels of inverted h&s patterns being developed here.

update: Copper price may still have just completed a wave 5 of 5. meaning it can still fall back suggesting fcx with a potential new 5 waves up count that can still bring it down to under 13.65 in the coming months. So I will do nothing here. if gfx low 13s show up I will gladly load up. Otherwise I will keep my current position for a MT target price of 20-24

[SilverRex]

natgas

while it dropped below 2.935, I decide to hang onto my UGAZ, and even added another position during this steep pull back. I have a feeling natgas still has the potential to erupt knowing it is beginning to find exhaustion and running out of sellers. the extreme negative sentiment gives me hope that the major move is to the upside.

using 2.8 as my key support.

[SilverRex]

natgas

using biotech xbi as comparison of what consolidation can do. Not sure how many were following biotech when I posted the same 5 pt consolidation was spotted at the beginning of the year and look where biotech went. if the same pattern continues I see natgas potentially hitting a A=C in around the 4.5 area in the coming months.

2.759 and 2.80 must hold in order for this to remain valid

[bh87]

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natgas

using biotech xbi as comparison of what consolidation can do. Not sure how many were following biotech when I posted the same 5 pt consolidation was spotted at the beginning of the year and look where biotech went. if the same pattern continues I see natgas potentially hitting a A=C in around the 4.5 area in the coming months.

2.759 and 2.80 must hold in order for this to remain valid

What term and pricing are you looking at for the NatGas quote?
On my live quote system (Thomson One) the 2 month contract price (12/17 rollover just happened) is at ~$3.103 right now which is down $0.058 (1.80%) and hasn't closed below $2.86 since beginning of August. Thus far today the low is $3.071 and high $3.141

[SilverRex]

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What term and pricing are you looking at for the NatGas quote?
On my live quote system (Thomson One) the 2 month contract price (12/17 rollover just happened) is at ~$3.103 right now which is down $0.058 (1.80%) and hasn't closed below $2.86 since beginning of August. Thus far today the low is $3.071 and high $3.141

my charting hasnt rolled over yet. you can look at the low price set on Oct 9 and Aug 04, as long as price does not break those support. I remain very bullish on natgas

[SilverRex]

fcx/copper

looks like fcx had a false breakout. originally plan remains on the table. still waiting for a wave c low in the low 13s. looking at copper I feel we have finally completed wave 5 of 5 of (1). copper should now correct in a 3 wave pattern. typically it would go after the prior wave 3/4 range. the uber bullish view could have copper only falling as low as 2.8-2.9 but since I dont play copper price directly, im not concern about timing the right entry. I have sold all my fcx on this pop and will wait for a much lower price for re-entry

[SilverRex]

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already posted this on gold last week

just updated a uber bullish path.

right now gold could have ended a sharp wave 2 pull back and will now begin a strong uptrend. or we may have one more low low ahead to truely back test the multimonth trendline breakout.

imo, both scenario is bullish.

reposting this. gold is currently on the black path. this small rally in gold could make another wave higher but MT I am going to wait for the back test of that significant multi year trendline breakout to load up on leverage again.

[Mostwanted]

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reposting this. gold is currently on the black path. this small rally in gold could make another wave higher but MT I am going to wait for the back test of that significant multi year trendline breakout to load up on leverage again.

Silver Rex your Technical Analysis is great! Although i dont trade the stocks you trade, I appreciate the way you show your reasoning for the movements. Been applying them to my day trading strategy and have been a more successful trader cause of it. Keep er up!

[max_boost]

MJ Pullback time?

[SilverRex]

gold

while expecting gold to back test the trendline breakout in the low 1200s without breaking July's low. gold could still mark a higher high (orange count), this will give miners another ST rally. seeing how miners held up extremely well today it is actually outperforming gold. which supports this move.

[KO22]

Any thoughts on PONY? Getting absolutely wrecked, looking at short and long term picture here