Official Short-term Investments Thread

[SilverRex]

fcx

over all we have 5 waves down and imo this 5th wave of V of ii should be ending this week. with a rising RSI divergence and it backtested the previous neckline breakout. this would make a very good area to bottom.

the 61% level is at 11.98 so keep this in mind.

would like to see a strong bounce out of this area in the coming days if not today if we are to maintain this bullish 1-2, 1-2 setup

[SilverRex]

oil

back in early February, I was expecting oil to make one more move below 50 to complete wave C before an attempt to break above 55. it looked like it wanted to just breakout immediately. and I said it had to break 55 soon or risk a pretty big sell off.

well not only did it failed to break above 55 to continue the momentum, the original target below 50.00 is now fully underway.

for the moment, count remains the same. I am still leaning towards an eventual breakout above 55 towards 60-65 and expecting oil to find a bottom some where between 47-49

however my line in the sand has always been the 61% level at 47. this will be the clue whether oil has more trouble ahead. so for the coming days/week. we will have to see how this all plays out

[SilverRex]

silver

has backtested the previous neckline breakout using best fit line model.

with the RSI being extreme oversold and price correction reaching previous wave 3/4 range, it would make for a very ideal bottom right here.

current area is 50% fib retracement level. the 61% is at 16.70, very possible we could bounce follow by a lower low to create a divergence

[SilverRex]

gold

I am going to stick to this count being gold is in a running flat ABC pattern now looking for wave C bottom. since I am using 1123-1244 being the 5 waves. the 38% fib level is actually at 1198. so we only just a few dollars away. the 1199 level was also the support from May 27 2016 which resulted in a 137 advance there after. so I am going to say this area should offer some buying, at least on first test

[SilverRex]

Nak/ndm.to

after a solid bounce yesterday. do we have a 3 wave flat correction with sub 3 ready to go?

[ickyflex]

Oil in the shitter again, hopefully it gets in the 48 and bounces off it as per above.

Will be a buyer soon if things shape up

[bspot]

Originally posted by ickyflex
Oil in the shitter again, hopefully it gets in the 48 and bounces off it as per above.

Will be a buyer soon if things shape up

BTE:CA at 4.40 looks like a sweet spot for a 63% retrace from the move off the bottom.

I really hope gold makes a frigging move so I can free up some capital to take a stab there.

[SilverRex]

some interesting action on drys this week.

could it be a wave v of V bottom has occurred? I still have some beer money in the red from a couple of weeks ago. looks like we have 5 waves off the low a good start

wondering if it can still turn into wine.

trade at your own risk

[bspot]

Originally posted by bspot


BTE:CA at 4.40 looks like a sweet spot for a 63% retrace from the move off the bottom.

I really hope gold makes a frigging move so I can free up some capital to take a stab there.

God dammit.

Hit 4.42, and ran up to 4.72.

We'll see if a retest happens, otherwise sadness for not following through on my own plans again.

[SilverRex]

Originally posted by SilverRex


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.

some positive signs out of natgas. not only did it break the sharp down trendline, it also managed to produce 5 waves off the low and closed above 2.90, with a slightly higher high, it would remove the wave 4 scenario completely.

if the bottom has been struct at 2.54, we should see it correct back into the 2.7 level then launch.

[riander5]

God damn oil. Drop biotech Drop!!!

[bspot]

Originally posted by riander5
God damn oil. Drop biotech Drop!!!

I gave up on my LABD today. Tomorrow is guaranteed 5%+.

You're welcome.

[SilverRex]

gold

this count is from a fellow EW guru on another forum that I respect and follow. he is suggesting there is a perfect 5 waves down for wave (C) potentially signaling gold bottoming today. first confirmation is to see price take out the previous wave iv top above 1209

this also looks like a 5-3-5 count A=C pattern

[riander5]

Originally posted by bspot


I gave up on my LABD today. Tomorrow is guaranteed 5%+.

You're welcome.

Haha just because you sold yours? I feel the same way most of the time. It hasnt gone where i wanted yet, but it hasnt confirmed a trend the other way either so im holding for now

[SilverRex]

despite some positive action in gold. the real bottom for miners may not occur until post rate hike next week. the lack of conviction may just mean it will continue to grind lower in a ending diagonal pattern until the rate hike announcement next week

the only time I would say the bottom is in is if gdx can take out the wave (iv) high above 21.80

until then range bound I would say.

[KO22]

What happens to gold post rate hike? Assuming down, but what kind of numbers are we talking about?

[KappaSigma]

Finally my junior permian producer has nasdaq listing approval. Lilis energy.

[littledan]

opened a position in TD today @ $66.85. It's getting slaughtered on the cbc article. ex-div is Apr 10 for $0.60/share FYI

[SilverRex]

to make things interesting and drawing in more technical buyers. gdx needs to break above 21.55 and gold above 1209

[KappaSigma]

Originally posted by littledan
opened a position in TD today @ $66.85. It's getting slaughtered on the cbc article. ex-div is Apr 10 for $0.60/share FYI

I just purchased at 65.90