Official Short-term Investments Thread

[SilverRex]

Natgas

With natgas breaking down into a 5th wave, I double down on it last week. Taking my position off the table with a slight profit. I only spot 3 waves up so it is not out of the woods. 2.214 must hold, once I see 5 waves, I will get back in on a correctional wave 2 with greater confidence.

[SilverRex]

Natgas

Dialing down it looks like wave 3 up is done (sold yesterday), working on wave 4, be nice to see it hit about 2.24x, could be a good scalp up on wave 5. with stop below 2.214

update: possible wave 4 completed now onto wave 5

[SilverRex]

usa.to

Nearly 2 months ago I posted one my core miners usa.to, it looked like it was consolidating in a 1-2, 1-2 count ready for an upside breakout. We finally got that breakout. If there is any leg to this rally, we should never see price break below 2.58 ever again. at least not until it in a worse case scenario takes out the 2016 high over 6.00.

[SilverRex]

gdxj

Gold so far is hitting a pretty solid resistance in the 1437 area going back to 2013, this 'could' be a good place to top out short term and reset momentum. looking at gdxj, we have had a great wave 5 wave (wave 3) run up. now I am looking for a good 1-2 day pull back. If I see it fill the gap or anywhere under wave 4 I will get back in with my leverage. Core holdings un-change.
Edit: added back a few positions. Leaning towards gold refusing to let up and may want to shoot towards 1500 first.

[SilverRex]

gdxj correction

looking for a similar correctional pattern as seen in early Jun

[SilverRex]

Oil

from my previous chart, though oil has not closed above 60 yet, however it does look pretty impulsive to the upside, I am now leaning towards my alt count that oil is moving in a wave C up >66 but <75 before we see a move <42.

Gold

Some breather and possibly sideway grind until G20 meeting results. However when gold becomes this bullish, many indicators no longer apply, you just ride the waves. extreme bullish is yet another extension and wave higher and 1400 is wave 4 low with wave 5 hitting as high as 1500. Those already have position could look to this as a profit taking zone. Those waiting, I would wait for the magic number to be hit which lies around the 1375-1382 area.
edit: opening a small position here, if gold backtest <1380, will add more

Natgas

Met my 5 waves up objective. Now will wait for a good pull back and re-entering leverage

NBEV

came within 1 penny of my entry price, now found some life. Will continue to hold expecting wave 2 completed and wave 3 next, if it comes down and knocks me out then im done with this one until a new low and better risk/reward setup shows up
edit: im out. will wait for a better opportunity.

[SilverRex]

Weed stocks

A lot of them are starting to turn bullish on the daily charts. Get ready for a good run comin'

Names like ZYNE, IGC, VIVO all looks pretty good. Many are forming a bottom as we speak. I will considering adding on any pull backs going forward.

[SilverRex]

Gold

thanks to the trade news over the weekend, gold has finally dipped into a A=C fashion. Would like to see it start to slowly get back up and close above 1404. It is very close to the support 1370-1375. anything lower would trigger a much larger correction or even a serious notion and doubt of this rally.

Natgas

Beautiful 5 up and now working on C of 2 down already met the minimum drop required . Might have one more minor dip, but a good place to get in if a much larger wave 3 up is up next.

[SilverRex]

Natgas

So far it is moving text book EW. 5 up and 3 down. confirmed if price can close above 2.321, unless we get a more drawn out wave 2 with one more drop towards 2.24, it should just be another opportunity to add.

[SilverRex]

gdxj

Well looks like we did get the same pattern. would be nice to see if find a way to close back above 34.08 to give me some confidence. I have added back another position yesterday. Gold is flirting just above the previous major resistance zone (now should be a major support) 1370-1375. Which, imo must hold. if there is any substance in this up move. My near term bias remains that gold shall find it's way to 1500 as a minimum with 1700 being the upper target.

[SilverRex]

Cron

If anyone is looking into or holding Cron, looks like a good low risk setup is at play. 5 up and possible 3 down. Once it can confirm closing back above 20.15 as well as the breakout pt over 21.56, Potential to put away the low for quite some time.

[SilverRex]

Natgas

Continue text book EW. 5 up 3 down and upside breakout acting like a wave 3. Bought back under 2.31, so long it doesnt come down and knocks my position out. Will try to bet on bottom being in and a major up cycle is starting. If 2.31 breaks I'll have to consider yet another 5 waves down to a new low or diagonal 5 waves down

[SilverRex]

Nio

Its funny that it has a very similar structure as natgas. after entering twice on Jun6/7, I will be holding LT and see if this is a wave 3 breakout. Again, if price comes back down and knocks me out where I entered, I will have to wait this out for potentially yet another new low

[SilverRex]

Gold

Lots of whipsaw in both direction. I actually wanted to see a sideways 5 point range consolidation then a breakout to the upside. I wonder if this is a good day trading strategy for the short term. 1370-1375 remains my 'must hold' territory before having to worry about anything.

[rx7boi]

@SilverRex

Other than commodities and the odd stock (Nio), what else do you hold in your portfolio for mid to long term?

[phreezee]

NIO popped 7% again today!

Back into BTE at 1.8x

[SilverRex]

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@SilverRex

Other than commodities and the odd stock (Nio), what else do you hold in your portfolio for mid to long term?

I dont play much other stock other than the ones I post. Just dont have as much time to trade as I use to.

Today

Sold Nio after 35% locking in profit as it has filled a previous gap at 3.59, next gap to fill is 3.9x, but putting my money else where.

Picked up a small position in Cron.to

Natgas, still holding. waiting for follow thru upside move to confirm trend change. would like to see it hit 2.52

[brucebanner]

Been holding GDNP for a few weeks, probably looking to hold longer term. Not much money tied up but already up 26%.

[phreezee]

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Sold Nio after 35% locking in profit as it has filled a previous gap at 3.59, next gap to fill is 3.9x, but putting my money else where.

$3.90 high today, let's see if it can close there tomorrow.

[SilverRex]

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Gold

Lots of whipsaw in both direction. I actually wanted to see a sideways 5 point range consolidation then a breakout to the upside. I wonder if this is a good day trading strategy for the short term. 1370-1375 remains my 'must hold' territory before having to worry about anything.

wave C low may have been achieved yesterday at 1385.57