Official Short-term Investments Thread

[bspot]

Well instead of dicking around thinking about it, looks like I really should have unloaded a position at 6. Whoops.

[riander5]

Originally posted by Vanish3d


I day trade - as in I rarely hold overnight.

Whats your strategy? Looks like just following 1H RSI signals would have worked well over the last few days?

[Disoblige]

Originally posted by Vanish3d
man the swings are unbareable
lost so much cash last couple of days playing both JNUG and JDST and getting it wrong every time...

guess thats why you don't play both

Nothing wrong with playing both as long as you either:

1) exit on lost of support (stop loss)
2) hedge
3) have a enough small position so you're not worried if it tanks (risk management)

[SilverRex]

some impulsive action off the low for uranium today. this sector's correction could very well be coming or nearing the end

[SilverRex]

ok

just wanted to take a step back and look at the big picture.

first rate hikes.

as you can see despite short term volatility, rate hikes has been great for gold and miners. we need more of them. Sure the anticipation for the next hike would trigger profit taking and a correction, but post hike, what ever happens in the background seems to support the sector.

had there not been a march hike, miners would have continue on up like 2016.

[SilverRex]

next is gold chart.

this is my current count. to me, it appears we have a text book running or expanded flat correction. all the waves so far are dead on. sure no pattern is 100% guaranteed but I am liking what I see

[SilverRex]

despite gold producting two intraday lower lows. miner did not follow. a good sign in deed.

cheering for gdxj to remain green while gold is down 10 dollars.

update: so far gdxj and jnug is breaking out Ro4 rule. on a double digit gold down day is very impressive

[Vanish3d]

Looks like Natgas broke out, then dropped to test the breakout line, then bounced again. Are we about to start another massive climb to UGAZ 50+?

[SilverRex]

Originally posted by Vanish3d
Looks like Natgas broke out, then dropped to test the breakout line, then bounced again. Are we about to start another massive climb to UGAZ 50+?

my sweet spot is 2.44 but given the action of late. it is possible the bottom may be in. and from a bullish EW count I have been following, it may be ready to make a big move to the upside.

the only question is has the bottom formed at 2.6? or do we have one more lower low to go.

with the descending wedge pattern I Think if natgas can break above 2.9 (which means it has 5 mini waves up) then it will support the case the bottom being in.

[littledan]

Mmj stocks getting murdered this morn

[SilverRex]

based on how miners are doing with yet another take down in gold prices. I feel the bottom is quite near. We either have one more drop towards gdx 21 and may even break it temporary or we go up from strongly and make a 1-2 pull back during NFP release.

I am getting back in my 2nd position jnug 5.50 after it took out my stop loss yesterday. Will leave one more position if gdx breaks 21 to catch an undercut low this week.

[SilverRex]

nak also bounced off the 1.15 area strongly. these counts and targets are no joke. still holding my position no change here.

gpl remains in the buy zone. cant rule out any fake break down towards 1.6, but it has met all criteria in a correction. still expecting an eventual breakout above 2.25

Uranium correction may also be over and ccj/cco is now reacting and starting to climb. final confirmation is when you see ccj break above 12.4

[SilverRex]

Nak

as you can see, price indeed went after the previous wave 3/4 range of 0.6-1.15 and so far price has rallied off the top end of the range which has met the minimum requirement for this move.

to me, it is all profit so no risk for me to hold it for the potential. Price has made a clear 5th wave of V down landned perfectly on the 200EMA on a rising RSI divergence.

the alt scenario is this entire sell of being wave (A) down, then wave (B) will at least make a back test towards 2.00 still a profitable trade to me

short term confirmation, would like to see price break above 1.37 to produce a swing low

[SilverRex]

gpl

ever since gpl hit 2.20 which I sold half of my position. the expected pull back was completely fulfilled and then some. a descending wedge or ED pattern in play. I think any panic drop below wave e is just a gift. now waiting patiently for an upside breakout preferably closing above 1.8

[bspot]

Oil took a seat on the toilet. Looks like it brought its laptop and plans on staying for a while.

[riander5]

If Jnug can close above yesterdays high and confirm a trend change im in. Will set my stop around yesterdays low prob.... 5.30 or so

[SilverRex]

Originally posted by bspot
Oil took a seat on the toilet. Looks like it brought its laptop and plans on staying for a while.

I have been cautious on oil and suggested oil needed to really break above 55 right away, the fact that it didn't and continue to move side ways was just going to be trouble ahead. Couple the fact COT are at record short position at least that is what I hear from those following it.

I might take a stab at oil if it can get close to 47 dollars. but that will be the line in the sand, if oil takes out 47 during this suppose correction, then bigger stake is at hand.

there is a bearish count pointing to a lower low under 26 and this entire rally is just another counter trend wave 4 move.

I will begin to support this count if oil takes out 47, otherwise there is no reason for oil to drop this low after having to finally break out above 52 with a invert head and shoulder targeting the 65-75 area.

[riander5]

Originally posted by littledan
Mmj stocks getting murdered this morn

You know why? Maybe this is a good entry prior to 4-20

[ercchry]

Originally posted by riander5


You know why? Maybe this is a good entry prior to 4-20

With how leaky the government can be I wouldn't be surprised if they are buttoning up what they will be announcing and it's either not good... or not enough barriers to entry that the value of these current players will dive

[secol]

nice bounce back today so far on the green stuff. my opinion is that it was an overreaction. typically when big selloffs like that occur, the bulls come back in and buy the dip pretty strongly.