Official Short-term Investments Thread

[SilverRex]

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GDX closed below 22. did you sell your leverage miners?

I'm still holding on JNUG with average of 17 .... too scared to let go now and watch it skyrocket (as always !)

I havent. I did reduce my size by 1/3 a few days back when it broke 22.45, unlike last year where 90% of my portfolio was in metals/PMs. im actually a bit spread out between MJ/Crypto/Metals. So risk isnt weighted as heavy and so I am watching gold closely to see if it can close the day with a reversal hammer (like previous bottom) I think miners are due for a bounce regardless of direction. You can take that chance to light up your position so that you can sleep at night.

stepping back from view miners are in a big range with gdx 21-25. I think if price was to close above or below this, the breakout would be quite significant imo.

[SilverRex]

Gold

so gold was able to close yesterday with a good looking reversal hammer. a swing low is also confirmed along side with RSI in oversold territory. I say as long as it doesnt breaking yesterday's low the potential gold could bottom here remains high in my own book.

miners are probably being tested to the extreme. my line in the sand, if gdx closes below 21 in anyway I am pretty sure I will exit my leverage.

[SilverRex]

the SM DJI, NASQ and S&P all have a clear 5 wave down count.going to move the cash I have set aside in my RRSP into the equities market. expecting it will bounce after 5 waves down. my personal expectation is to see some sort of triangle or running flat correction with this leg down being the strongest drop.

[max_boost]

^^

Wait so the markets are gonna bounce back up here or bounce back down? I can't quite understand your post lol

I just had an influx of cash come through about $50k and I'm debating where to dump it or wait a bit?

It's gonna go into 3 sectors but dunno the timing or breakdown. Bonds/TSX/Dow. Maybe 25/25/50

[SilverRex]

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^^

Wait so the markets are gonna bounce back up here or bounce back down? I can't quite understand your post lol

I just had an influx of cash come through about $50k and I'm debating where to dump it or wait a bit?

It's gonna go into 3 sectors but dunno the timing or breakdown. Bonds/TSX/Dow. Maybe 25/25/50

im expecting the market to bounce once a intraday bottom forms since a clearly 5 waves down should trigger a move back up (short covering etc). My RRSP doesnt kick in until the EOD so I dont mind the sector keeping it down here and perhaps a gap up monday to get things started

[SilverRex]

all the index is recovering nicely off the low. could close out the day with a reversal hammer.

[SilverRex]

Oil

havent posted for some time, count remains the same, was expecting wave 3 top and I think it is in. now seeking out a wave IV correction. could be sharp or triangle no one knows, buy I do expect price to eventually make another run and hit 70+, will this lift energy shares? pretty disappointed this sector has been under performing. Big picture, if wave (A) top at 51.64 will be a critical support. for now just expecting a very large ABC pattern

[asp integra]

come back Pony, come back!

[Disoblige]

I didn't play any JNUG today but that price action is crazy. And even AH up 52 cents so far. Wow.

[SilverRex]

i end up holding onto my jnug. gold refuse to drop, so ive switched my eyes to gold instead. as long as it doesnt break yesterday's low, i think the sell off is over done.

S&P tagged the 200 day with a major reversal. i really was hoping to have it stay red by the end of the day but no luck.

also the buying on weakness

BoW with GDX at a massive +$357 MILL, TLT at +$148 MILL, and GLD at $58 MILL. That data alone could support a turn around.

[OTown]

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all the index is recovering nicely off the low. could close out the day with a reversal hammer.

Complete 180 this afternoon. The morning was looking dreadfull

[SilverRex]

gdx

what a late day reversal on gdx. notice the triple support level which has formed a huge support in 2017. I was so close in closing out all my leverage position because gdx was breaking down. Then I looked at gold and gold couldnt even break the reversal low on Feb 8th at 1306.8, so I switched to using gold as the indicator and would pack it in if gold loses that level. But it didnt, I ended up selling my natgas at a loss (exceeded my low target by quite a margin, watch it will probably rebound due to extreme oversold) and use the proceeds to actually added back the Jnug position I sold a few days back so I get to lower the average a bit.

if you only look at gdx, it appears pretty bearish due to the breakdown, but gold/silver as well as alot of miners (depends on which one you are holding) actually are holding up extremely well, this correction never hit them anyone close to what happen to gdx. one reason could be how companies like ABX is dragging the entire complex down due to its weighting. In other words, gdx chart could be lying for all we know.

the BoW numbers on friday was astounding, COT data also supports a bottoming or reversal at hand. even with the late day rally, gdx still only has 3 waves up. so we have to see if it can generate enough momentum to give us that 5th wave and put away the low. (not that we havent seen 5 waves turn into trash lately e.g Hive) but 3 waves has >80% tendency to just be corrective action follow by lower lows) Any good reversal or new up cycle beings with a healthy 5 waves up 3 waves down.

[zhao]

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anyone holding pony still!?

nope but I want to buy in next week. No idea when q4 results are going to be released but within the next month I expect people to see its still profitable and spike the stock price stock again in the short term.

My only worry is it went way below the 1.80 i was fairly sure it would hit, and now i think there is a chance to go even lower. I was looking at its history and about a decade ago it actually did a very similar plunge and it tested $1 that time. I think this thing might test 1.40 or lower this year, however, I'm still convinced someday its going to bounce back up to $6+... that just may take 3 years now+. Although 4x return in 4 years would be a pretty good return.

I actually have no idea how it can be at 1.6x unless there is something I am missing, which will become apparent in q4/year end results. I believe the CFO bought in with close to 100k shares when it dipped under $2 also. Ward still hasn't bought shit all of this company though.... which is some what worrisome. You'd think he'd have some money kicking around to buy it at a discount if he believed in it.

[TomcoPDR]

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I just had an influx of cash come through about $50k and I'm debating where to dump it or wait a bit?

Oh man would be nice dumping all into pre boom MJ

[max_boost]

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Oh man would be nice dumping all into pre boom MJ

That's for the real ballers / shot callers etc.

Us budget guys will just toss in 1000 shares to just play, stay trending and chat with the big boys haha

[zhao]

The way the market has been in the last few weeks, a new car might be a better investment lol. I'm not sure when things are turning around but next week is probably a buy week for me. Some stuff just doesn't make sense why its been dumped so hard. Whats been on my mind this weekend:

pony, cj, cve are 3 i think are risky but are oversold and could see a 20% rebound in the short term (month maybe).... but also risk no rebound and new lower lows.... so risky. if any of them go any lower i think the risk is well worth the potential reward. Even at the current price its worth it imo... its just i think there is a good chance of a better entry point coming up this week for all of them.

tv and chr are the 2 that make no sense to me why they've been dumped hard, and if they get another spike downward like tehy did this week (chr touched 8.30, and pulled back to 9+ within a few hours, did a similar dip earlier in the week too) i think these 2 could be good for 5%+ instant rebound within the day. As far as i'm concerned tv is is a sure bet this year for going up, and should hit at least 1.80 imo, most likely a lot more. I'm also starting to believe the hype that in 2-3 years it may be a $3.50 stock. Its right now undervalued in the 1.40s. As for CHR it should be 9+ all year with that dividend so anytime the share goes deep in to the 8s its free money imo.

[TYMSMNY]

down market still ok, bought into HZD, HND, and HBD last week due to precious metals especially silver bouncing on/off 17-18 all day.

MJ stocks hopefully consolidates over the next week or two. a lot of PP and dilution has been on the horizon. I sure don't mind the correction as a whole though... ready to pull the trigger when needed.

[SilverRex]

ICON

one of my spec plays. had a pretty good breakout this morning. I also did add a little more last week at 1.17 to average down my position. while I dont hold a lot, this is one of those I will try to hold as long as possible for a chance of being a 10x or even a 100x. With the impulsive breakout this morning, lets hope the bottom is in and those of us that are playing this to never see our entry price hit.

[SilverRex]

Gold

well as suspected, gold continues the same bottom script by forming a reversal green hammer and coming out of RSI oversold. swing low also confirmed trend change and could be the start of a new daily cycle. This is my current count. readying for wave 3. gdx/gdx indeed was oversold. either gold was lying or the miners, and so it was the miners based upon the latest action.

[SilverRex]

ACB

do your own DD, to me looks like a giant ABC expanding flat correction. count looks like a 1-2, 1-2 setup, I think as long as it does not close below 9, one has to expect higher highs to come