Official Short-term Investments Thread

[Vanish3d]

My account is acting funny. It is showing the old amount of JNUG shares (also showing that equivilant $ value) and when I try to trade it at the quantity after the split, it tells me I don't have sufficient shares....

[SilverRex]

Originally posted by Vanish3d
My account is acting funny. It is showing the old amount of JNUG shares (also showing that equivilant $ value) and when I try to trade it at the quantity after the split, it tells me I don't have sufficient shares....

ya it's a problem once the share is splits or reverse split and your account takes a time to update

[bjstare]

Originally posted by Vanish3d
My account is acting funny. It is showing the old amount of JNUG shares (also showing that equivilant $ value) and when I try to trade it at the quantity after the split, it tells me I don't have sufficient shares....

If you need to trade, just call your bank on the phone and request they make the trade (I know, what is this, the 1940s?). I've done that before when my webbroker was acting up.

[Disoblige]

Originally posted by Vanish3d
My account is acting funny. It is showing the old amount of JNUG shares (also showing that equivilant $ value) and when I try to trade it at the quantity after the split, it tells me I don't have sufficient shares....

Can you submit the order anyways? Sometimes this is just a warning, but you can just submit it anyways and it will be done manually by them in the backend.

[Vanish3d]

Well, it was a blessing I couldnt trade. I was going to cut my losses with JNUG. Now it's up 15% (which is still waaaaaay below my break even, but gives a little hope)

[SilverRex]

Originally posted by Vanish3d
Well, it was a blessing I couldnt trade. I was going to cut my losses with JNUG. Now it's up 15% (which is still waaaaaay below my break even, but gives a little hope)

the rally today is most likely due to the extreme oversold. right now it is possible there may be one more wave lower. if you cant stomach the swings its best to scale down a bit.

[Manhattan]

Gold seems to be oversold AF.

[Vanish3d]

Originally posted by SilverRex


the rally today is most likely due to the extreme oversold. right now it is possible there may be one more wave lower. if you cant stomach the swings its best to scale down a bit.

I listened and dumped all JNUG when it was up 12%.
I just put in the order and my account now shows negative, but that should fix tomorrow. Looks like a good move so far.

[Vanish3d]

go LABD GO
maybe it'll recoup the JNUG losses

[SilverRex]

gdx looks like it has completed 3 waves down and potentially in a wave 4 bounce. technically it should make one more wave lower (divergence?) sell on news by tomorrow Yellen?

then this wave C bottom should be in, that is what the EW is expecting anyways. The more bearish view is that miners have began a large degree intermediate decline and this drop was only a wave A with a strong bounce wave B follow by a another even steeper wave C drop that could take gdx down to the 21-22 area.

However I am still leaning towards the current mind set that this leg down is wave C (not A) and looking for a bottom this week.

if miners did bottom this morning. then we should see price take out 27.85 and stay above it as it steps higher in 5 waves.

personally picked up a small position in Hzu.to, out of USD funds to play USLV, dont want to get hit with exchange rate. with silver holding well around 18.50 is a good entry for me anyways. may double up the position if there is a panic drop to 18.3 tomorrow

[SilverRex]

as for oil, it looks like it broke the down trendline. the first sign wave iv correction may have ended today. if wave 5 has started, it should be able to test 50-51 in the coming days.

unless tomorrow is still a wild card, and this breakout becomes a false head fake. Either way, a correction is a correction. 45 or 46. next move is up imo

[bjstare]

Late day strength in JNUG. I was hoping to unload today, given how much stronger it rebounded than I thought it would but was away from my desk when it breached $22, and away again for the last little while before close.

Here's hoping it does ok tmw/over the weekend.

[Meback]

So kinross just released news that it has shut down their mine in chile and has layed off all workers. This cane earlier then expected as they were looking at a 4th quarter closure. Anyways... why would this make their stock jump 4 percent after hours.

[SilverRex]

ok lets look at gdx today.

quick review. after gdx taking out 28.5-29.00 area this week, the breakdown immediately sold down under the previous support at 27.4, just didnt realize it was in a such quick and short order.

while the price breakdown has invalidated the short term bullish count. Here is the kicker. the EW community as I have read this morning are now saying due to this pull back, it became even more bullish.

I have been trying to learn from both bullish and bearish camp and keep both in mind. Strategy is to ensure that if the bullish hand wins, I have holdings that I can profit, but if the bearish hand wins I have enough cash to get myself in a much better position.

regardless of direction, I sense due to the extreme oversold condition, and plenty of people who missed the run this year wanting and waiting for a pullback, a strong bounce will be likely.

so I present to you two counts. Yes I am bias and leans towards the bullish setup. the bullish setup is a 1-2, 1-2 setup with wave i of (iii) of (III) about to begin (once it bottoms) possible low is in or post after Yellen shock.

a new channel can now be drawn once price begins to move back up next week if not today.

here is the best part. Those that are concern and just wanting to GTFO, look for the bounce towards 30.

If the red count and a significant bearish path unfolds, the initial bounce will be strong but many will jump ship. So take the opportunity to either scale down or get out.

those who loves the risk/reward play can continue to hold.

Key support for the uber bullish count requires price to remain above 25.5-25.75 which I have drawn a double support line here.

good luck trading

today's market should be a dandy

[SilverRex]

pending any post Yellen surprises.

we have a few great confirmation that potentially the daily cycle low may be in for gold.

-swing low confirmed
-double back test of neckline
-RSI oversold

[SilverRex]

also food for thought, according to this article. in the past 20 years gold's biggest gain comes in September.

http://news.goldseek.com/GoldSeek/1472215802.php

[Vanish3d]

Any magic analysis for xbi ?
I'm on the labd side now

[SilverRex]

it appears Yellen's speech causing the probability of a rate hike in September to rise. Now we shall see how gold holds up despite an initial thrust downwards

edit: what a swing. so far within my expectation. news drove everything into deep red now everything is back up green and gold looks STRONG

[SilverRex]

Originally posted by Vanish3d
Any magic analysis for xbi ?
I'm on the labd side now

sorry I have not been paying attention to biotech, all I can say is biotech ties in with the general stock market especially the nasdaq. while expectation is suppose to be a correction the over all bias and counts suggest stock market is gearing up for a powerful wave 3 move to new heights.

so it is very risky to go short as surprises are usually to the upside. and I think even more so leading up to the election that the US gov does not want to let it tank.

thats my personal opinion :/

[el_fefes]

http://www.bloomberg.com/news/articl...hole-full-text

skimmed through it... not sure what this means for a possible september rate hike... she does say rate hikes will happen at some point...