Official Short-term Investments Thread

[Disoblige]

I think there will be other chances to sell in the 9s, but these are meant to be traded, so I would take any opportunity I get to profit.

15 minutes, stop the pain!

Edit: Gold closes above 1210 for the weekend, and futures close at 1209.50. Not bad, actually. Let's see what happens Sunday evening/Monday morning.

Edit: Gold opens positive and USD/JPY gaps down. Dollar index also down. Looking decent for bulls for now.

[ickyflex]

Canadian Energy just been getting ripped the past two weeks, down every single day

[secol]

inverted head and shoulder on gold? seems to look pretty strong and GDX still heading upwards

[jacky4566]

Originally posted by ickyflex
Canadian Energy just been getting ripped the past two weeks, down every single day

Your telling me. Another 4% down on MEG just this morning.

[ickyflex]

Originally posted by jacky4566


Your telling me. Another 4% down on MEG just this morning.

All because of this bs BAT.

20% chance of happening so potentially not a bad opportunity to pick up some beaten companies. Whitecap looking good under 11.

[SilverRex]

Originally posted by jacky4566


Your telling me. Another 4% down on MEG just this morning.

if you look at the last chart I posted on Meg, the sweet spot is between 6.50-7.00

bte hit my buy range so I opened 1 position. I will buy Meg if it falls closer to 6.50

[ickyflex]

I think I'm gonna snag some WCP in the next few days

[dandia89]

Originally posted by ickyflex
I think I'm gonna snag some WCP in the next few days

why is it dropping so much and why do you think it'll recover?

[ickyflex]

Originally posted by dandia89


why is it dropping so much and why do you think it'll recover?

All Canadian Energy is tanking as a result of Trump indicating a potential border tax + just general Trump uncertainty. They've been taking a bigger hit before they are held by more funds who have been dumping into this news.

I think it'll recover because I don't think the BAT is targeted to Canadian producers especially because US Refiners are made for heavy crude vs light oil from shale. I think the BAT is an attack at everyone else.

So I would suspect in the coming months that will all clear up and once Trump indicates Canadian O&G is fine, then you would see people jump back onto the Canadian Energy sector equities

My thoughts anyways

[KO22]

Bought NDM(NAK) just before close today for the fun of it as I saw the article 30 mins before saying they have Trump's backing for the Pebble project (2nd largest mine in the world or something), and holy hell, the afterhours volume is insane right now. At the moment up 13%..

[ZenOps]

OSK gold mine, whatta gold mine.

[SilverRex]

miners have an uncanny similar situation like March 16 whereby a refusal to break lower and the consolidation is leading to a breakout. a possible T1 pattern?

gold down 5 dollars yet miners are hanging on to their gains. appears to be quite bullish imo

[SilverRex]

fcx also breaking out as expected. still looking like wave ii of (iii) is completed and this breakout is now wave 3 of 3 which 'should' be a powerful one.

the alt count could still suggest a flat abc still the possibility of 12-13s but at this point I would only consider this if price begins to trade below the breakout neckline. The only concern that may add to the bearish view / count is that this breakout lacks volume

looking for 20-24 dollar to start taking my profit.

[SilverRex]

so far my position on bte.to @ 5.39 is somewhat decent. price is finally coming out of oversold.

hopefully it can break above 5.93 to create a weekly swing high hence producing a bullish reversal engulfing candle that could very well mark the bottom.

still gunning this count being 1-2, 1-2 which explains why bte isnt exploding in comparison to Meg.

Meg .to didnt quite hit my buy zone near 6.50, it got as low as 7.01, which imo is close enough for any correctional target.

however the stock market as I have been hearing alot of people expecting the shoe to drop (or correct significantly)

if that is the case, it may hinder the performance of the energy shares. A falling stock market will definitely add fuel under gold shares though.

another scenario is that big money will want to unload at the top, hence wont surprise me if the market pushes for a fake breakout DOW 21k, spx above 2.3k to trap longs. then this will bold well for energy shares.

[SilverRex]

after selling my labu at 42. will try again bought a position at 35

also dryship massive record volume on the sell off today. my last beer money is pretty much a loss. but threw another one into the pot for kicks and giggles.

[Disoblige]

Originally posted by SilverRex

gold down 5 dollars yet miners are hanging on to their gains. appears to be quite bullish imo

I love it when this happens. Sold all JNUG at $9.60 this morning.

At this point, I'm not even considering JDST unless it's under $17 to anticipate that oversold bounce. I do think there will be a big psychological resistance of $10 for JNUG though.

Starting new position in JNUG if it hits the high 8's-low 9's region, and starting one in JDST if $16.99 or lower.

Edit: Well, gold under $1210 and JNUG doesn't look too appealing right now lol.

[SilverRex]

xbi is really hard to count so I wont even bother. with a rounding top which can be difficult to overcome. all I know is typically rounding tops are topping patterns but the fact that this rounding pattern is at the bottom of the down cycle that started in 2015 tells me there is a higher probability it will do the opposite.

looking back, as long as biotech continues to produce higher lows without exception of the big sell off prior to the election, that was an intermediate decline. and since price has been consolidating what appears to be a 5pt triangle. I got into LABU which is a great re-entry and hoping we are near the end of wave E with the next big move to the upside.

RSI is also near oversold so that will help.

[SilverRex]

this is a quote I particular like

“In this business if you’re good, you’re right six times out of ten. You’re never going to be right nine times out of ten.” – Peter Lynch

[SilverRex]

gold/miners finally started moving down. if the same pattern continues, it could simply be a backtest of previous breakout and would mean it is a good opportunity to get back in.

personally I am still just going to wait on the sideline considering I have more than enough asset in this class to profit from if the breakout move continues.

but looking at gold's breakout move and pull back in 2016 has somewhat of a similar action with gdx in 2017.

if miners follow the same script, then this move up is only a wave B follow by a wave C drop to break the rising channel.

if this does unfold, then I will be enticed to pickup some Jnug

[SilverRex]

My ideal scenario is to see the stock market breakout to new highs drawing in everyone even your next door neighbor along with their grannies while gold/miners correct like it has ran its course and beginning to look bearish again.

this will give me the opportunity to unwind biotech and energy then put the funds back into gold/miners when the stock market reaches A top and collapses.