Official Short-term Investments Thread

[bspot]

EIA data:

Crude +867K vs +1.03M

Cushing -200K vs 866K

Gasoline -3.75M vs -1.88M

Distillate -2.48M vs -1.25M

MACD cross, stoch RSI turned up:

[SilverRex]

Originally posted by bspot
EIA data:

Crude +867K vs +1.03M

Cushing -200K vs 866K

Gasoline -3.75M vs -1.88M

Distillate -2.48M vs -1.25M

MACD cross, stoch RSI turned up:

well triple bottom and did not close below 47, I remain bullish in crude as long as 47 holds. also we are entering a strong seasonal strength from now until Oct.

[bspot]

Speaking to your seasonal strength comment:

[SilverRex]

gold

gold is both in a down channel as well as flirting with the h&s rising neckline. something has to give this week. either a breakout above 1255 or a fake breakout perhaps leading to a continuation in the channel towards 1240 with target in the 1230

[SilverRex]

interesting action on gold despite initial drop down to retest the 1244 support. didnt quite hit the bottom of the channel near 1240, if price closes above 1251 that would begin to get bullish and a close above 1255 would seal the bottom imo

update: gold so far being rejected off 1251, until it can close and sustain above this, still expecting further downside for both gold and the mining complex

[SilverRex]

fcx
finally broken out of a multiweek down neckline and on the verge of taking out 13.15 impulsively to the upside

update: there is the break a above 13.15, the bottom is in (imo)

[Vanish3d]

BTE is frustrating. Oil is popping but it's staying flat.
maybe if we cross the $50 mark it will pop

[SilverRex]

Originally posted by Vanish3d
BTE is frustrating. Oil is popping but it's staying flat.
maybe if we cross the $50 mark it will pop

bte looks like a clear 5 waves up off the low so I expect a pull back this may explain why it is having some trouble moving higher

[BavarianBeast]

Starting to think about cashing in on my canadian energy stocks.

I think the CVE and COP share prices this morning show a good indication of where they are going.

[bspot]

Originally posted by BavarianBeast
Starting to think about cashing in on my canadian energy stocks.

I think the CVE and COP share prices this morning show a good indication of where they are going.

Did CVE not dilute to pay for the deal?

I mean, that doesn't take away the COP pop.

[SilverRex]

fcx

after seeing fcx breakout above 13.16 as well as producing a weekly swing. I now lean towards a bottom is in with wave (c) of (ii) completed. comparing to the last major bottom back in Oct. it put in the exact same type of bottom with a thrust under cut low follow by positive divergence out of oversold.

we should be in some sort of sub 3 of 5 of i move. and expect a pull back just like (circled in red) then launch.

final nail in the coffin is to break above 14.00

[bspot]

It didn't get any easier than this playing UWT. BTE was a bit tougher as it hit lower lows as oil had already begun to reverse, but throwing money at it as long as the channel held has paid off:

[s_havinga]

So are you holding until Oil makes it to ~$55 as the channel suggests?

[bspot]

Originally posted by s_havinga
So are you holding until Oil makes it to ~$55 as the channel suggests?

I likely don't have the balls to. Oil hits important MA resistance at about $51, so I may peel off my UWT position.

For BTE, it depends on the price action a bit, but I am more comfortable holding that longer term.

I'm holding more BTE than I'm comfortable with for the long term, so I'll probably pull about half off at $5, and let the rest run as oil possibly tests the top of the channel.

If all goes down as planned, I'll peel a bit more BTE off when oil is at the top of the channel, and hold a remaining position of more like 5% of my portfolio to see if it gets on a serious run.

[ickyflex]

I wonder if all CAD Energy is down as a result of CVE

[Vanish3d]

looks like GDXJ about to tank further.
Holding JDST at 15. I would love 20% day

[BavarianBeast]

Originally posted by ickyflex
I wonder if all CAD Energy is down as a result of CVE

That's my outlook on it.

Canadian oil is too damn expensive, why get caught holding the bag.

[bspot]

Originally posted by BavarianBeast


That's my outlook on it.

Canadian oil is too damn expensive, why get caught holding the bag.

New projects are expensive, sustainment is amazingly cheap.

http://www.the-american-interest.com...sands-looking-

[bspot]

Gold back testing the breakout. Scaling back in JNUG:

[ickyflex]

TSX Energy took a beating today, we'll see how tmr holds