Official Short-term Investments Thread

[secol]

broke the $7 wall. should open up a bit here with such little historical price action and get a bit jumpy

[SilverRex]

expecting the stock market to make a lower low (recent rally looks like a wave B) with wave C to go. with this drop, also expecting the gold sector to find an intermediate top

[littledan]

Originally posted by bball2
Aphria been killing it lately

Go baby go! Looks like HMMJ is really helping out the green sector.

[SilverRex]

Gold

Finally gold exploded over 10 dollars over night probably due to the Syria air strike news. But at least technically it finally broke above the previous high at 1263.87 which for the cycle counters is a must if gold is to remain bullish.

after we are now at the mercy of the NFP report to see if gold will find a top here or we may still have some legs to revisit the all important multi month down neckline in the 1280-90s.

I will be looking to unwind some position in the gold sector if there is any further rally.

Oil

so far so good. has officially closing above 51.67, now would like to see this turn into support


stock market.

while it is recovering premarket, the expectation was further weakness for the coming week or probably just days to end this correction before a 5th wave finale begins, my gut feel is that stock will mount another rally towards new high while gold either drops or grind ever so painfully sideways in the weeks ahead so I hope to position myself for this pattern

gdx

with a gap up this morning, I believe key support is 23.55, I will be watching this level closely and see how high she can go. if 23.55 gives away I wills scale back quickly in some of my positions


update:

NFP way below estimate,

98k vs 180k est
but unemployment fell to 4.5% which is probably the deal breaker for gold

[SilverRex]

fcx

possible 1-2, 1-2 setup in fcx if it break bottom today and break above 13.72, but as I posted from the previous chart on fcx, the 5 waves up could have just been completed this week hence we are working towards the buy zone area near 13 or slightly below

[SilverRex]

miners just cant follow gold, then again I was expecting an intermediate topping here. with gdx 23.55 failing i am exiting my last Jnug position and will wait for the next big opportunity panic sell off.

[KO22]

Wondering if I should jump back into JDST over the weekend.. rode the nice wave up this morning and sold now contemplating whether or not to jump back in

[SilverRex]

ive scaled down a few of my other core holdings in anticipation of further weakness.

[Magic-8-Ball]

Originally posted by SilverRex
ive scaled down a few of my other core holdings in anticipation of further weakness.

Silverex, with the market weakness potentially on the horizon I know you are invested in fcx (appreciate your charts btw). Are you scaling back in them too looking for a better re-entry?

[SilverRex]

Originally posted by Magic-8-Ball


Silverex, with the market weakness potentially on the horizon I know you are invested in fcx (appreciate your charts btw). Are you scaling back in them too looking for a better re-entry?

just trimming my exposure and yes I am waiting for a better re-entry. Trying to take advantage if there is a coming drop but without losing too much in case the surprise is to the upside due to all these political uncertainty

[Mostwanted]

hey guys, do any of you guys use a platform that shows post and pre market trade?

[SilverRex]

gold

I continue to enjoy being optimistic. the latest action on gold looks like 3 waves sequence and so I cant help but wonder if the top has not been set. gold could either still be in a sub 4 of 5 still pointing to a retest of the major neckline just under 1290 or better yet my own bullish 1-2, 1-2 with price possibly headed to retest the (soon to be cross over 50/200EMA) and a backtest of the recently breakout neckline.

with all this summer doldrums and gold is bearish until summer. then perhaps it may really want to shoot for another run at the 1160-1180 area.

I have exited all my leverage position as well as scale down a bit on my other core miners. Will wait for a 5 waves down and take another stab with this possible 1-2, 1-2

[SilverRex]

oil

no change. I mention if oil breakup was real, it needs to break above 51.67 then turn this into support which it has done so perfectly last week. I expect higher prices, although it may be due for a wave 2 any time before wave 3 (this wave 2 drop may coincide with stock market possibly making one final low?)

bte looks like wave 3 is about to get going with risk to the low side just under 3.26

[SilverRex]

as you can see, I posted this in February, was expecting a drop under 50 without breaking 47. amazingly price formed a triple bottom at 47 without breaking one penny below.

60+ oil remains on the table

[SilverRex]

gold after 5 waves down, looks like it is making a counter trend bounce. I expect once this is over it will resume heading lower

gdx

the same goes with miners once gdx at 23.53 gives way or becomes resistance instead of support

update: ive scaled down my core miners by 30% on this bounce

[SilverRex]

Originally posted by SilverRex
fcx

possible 1-2, 1-2 setup in fcx if it break bottom today and break above 13.72, but as I posted from the previous chart on fcx, the 5 waves up could have just been completed this week hence we are working towards the buy zone area near 13 or slightly below

looks like fcx is taking the green count. after having to find a bottom at 13.30, it appears in the process of breaking out of a down channel

[zhao]

So far so good with my hbc prediction. I miss timed the bottom a bit (2 hours of huge volumes at a stable price so I bought, then it fell again) but still bought it the day it bottomed out. The huge swings have stopped and now I'm seeing steady upward growth. It'll cross over soon too most likely so interesting things could happen there too.

[littledan]

weed stocks going bonkers today.

ACB broke over 3 bucks, APH is in to the mid 8s...

[zhao]

Weed is one of those things I feel that is going to end in lols on both sides. Some will make a fortune and some will lose a fortune. I can't even guess where the top will be on the growth we are seeing

[sabad66]

Originally posted by littledan
weed stocks going bonkers today.

ACB broke over 3 bucks, APH is in to the mid 8s...

New ETF just recently came out too. Hmmj.to

Great option if you don't want to follow individual pot companies.