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Thread: Official Short-term Investments Thread

  1. #31061
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    just some reading

    Gold is Tapping Around Looking for a Tradable Bottom

    Bob Moriarty
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    Mar 10, 2017

    As of Friday morning March 10th, gold has been down nine days in a row. If you were flipping quarters the odds of heads coming up that many times in a row would be 512-1. Gold going down nine days in a row should only happen one time out of every five hundred and twelve trading days. Or once every two years.

    Measuring sentiment is difficult when you are not at a major top or bottom but if you look hard enough there should be something giving you a signal. Gold is highly over sold; I believe we are still in a bull market. I also believed a month ago we were starting a correction. We have had that correction. I think gold is looking to go up again. That would be very bullish, giving a higher low.

    Sunday is a full moon. Commodities like to change course at full moons or accelerate in the direction they are going. It would be irrational to believe gold will continue down and accelerate further after nine days in a row of lower prices.

    Everybody back in the pool.
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  2. #31062
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    GDX just produced a swing low by hitting 21.56
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  3. #31063
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    Updated exit plans for JNUG? I'm sitting 5.90 average. Really want to let a decent amount run, as this looks to be one of those really good looking setups. I need to consider my risk management here though and lock in some gains early on and reduce my exposure.

  4. #31064
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    What's everyone's plan for net week?

    Buy some JDST/HGD for the rate hike announcement and then flip it a day or two after?

  5. #31065
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    I'm switching things up. Trying a 5% trailing stop on a third of my JNUG. Normally I'd kill the first position here as it's back past break even, but lets see if this can run.

  6. #31066
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    Originally posted by KappaSigma


    I just purchased at 65.90
    right on! I'm gonna keep buying this otw down. Hopefully in 3 weeks we can high-five on this position.


    Originally posted by bspot
    I'm switching things up. Trying a 5% trailing stop on a third of my JNUG. Normally I'd kill the first position here as it's back past break even, but lets see if this can run.
    Looks like a good strategy. Never hurts to take some profits even if its a trailing stop that takes you out of the position. Hopefully it runs and you can see some good gains.
    Tap, Rack, BANG!

  7. #31067
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    Good gains today for sure on JNUG.

    Certainly a long way to go to get back to where it was. Especially factoring in the rate hike.

  8. #31068
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    so far gold not only produced a swing low but also 5 waves up from the low last friday.

    expecting gold to find a bottom some where between the 50 and 61% fib level would be ideal. if price closes below 1201 then ill start to be bit more concern.

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  9. #31069
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    selling half my Jnug to lock in profit this morning.
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  10. #31070
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    Waiting on a good entry time for Jnug as it has met my qualifications to confirm a new uptrend.

    Was going to get in this morning at 1% up but went and had a shower instead

    Now i wait..

  11. #31071
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    gpl

    last week when GPL was in a ending diagonal. I was expecting the bottom to be near and with a slight possibility that it would break into the 1.6x which is a screaming buy. not only did it achieve this but it has since completely reversed and took out the important 1.8 area with 5 mini sub waves up on strong volume. very likely the bottom being in.

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  12. #31072
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    Jnug trying to start a short wave 5 after an extended wave 3? Hmm

  13. #31073
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    Originally posted by SilverRex
    selling half my Jnug to lock in profit this morning.
    What's your plan for the rest? Normally I'd throw in a stop at break even, but the whipsaw at FOMC can make those moves look foolish in retrospect on many occasions.

  14. #31074
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    with FOMC around the corner, anything could happen. a bearish alt count for gold if gold closes below 1200 then a lower low cant be ruled out still.

    with that said, I think miners will not produce a lower low, it will be a higher low.

    I am still leaning towards the bottom being in.

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    The concern really is Yellen's speech after the decision. If she says they're still on target for 2 more rate hikes this year, look out for the gold dump.

  16. #31076
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    The concern is, why didnt i buy friday

    why

  17. #31077
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    Originally posted by Disoblige
    The concern really is Yellen's speech after the decision. If she says they're still on target for 2 more rate hikes this year, look out for the gold dump.
    true and a larger bearish alt count can still paint further down side a lower low under Decembers low landing some where in May/June period.

    which is not what I prefer and will certainly see some early warning signs when this happens.

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  18. #31078
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    Oil hit the 47s

  19. #31079
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    out of JNUG from 5.5 and taking a stab at JDST with a stop at yesterdays low.

    and some beer money in VRX

  20. #31080
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    miners have been moving in an ABC correction. expecting more upside but will hinge on how gold plays out

    as for gold. as expected. gold rallied off the 61% fib level 1201 pretty much a text book correction. Now this area must become support or risk the alt count suggesting lower low to come. until then let see if the rally off 1201 can translate to a move above 1211

    Last edited by SilverRex; 03-14-2017 at 08:36 AM.
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