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Thread: Official Short-term Investments Thread

  1. #28461
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    Originally posted by SilverRex
    gold will make a move one way or the other today.

    close above 1348 = path to 1381
    close below 1334 = path to 1308
    Im quoting you one that one

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    Energy stocks coming back a bit

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    Originally posted by riander5


    Im quoting you one that one
    What if it's between 1338 and 1348?

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    Originally posted by joegrang


    What if it's between 1338 and 1348?
    Then it could go either way. And yes, you can quote me on that one.

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    gdxj about to make another 52 week high and gold hasnt really broken out yet.

    anyone taking a chance on oil possibly bottoming here. under 45
    Last edited by SilverRex; 07-13-2016 at 12:50 PM.
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  6. #28466
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    Originally posted by SilverRex
    anyone taking a chance on oil possibly bottoming here. under 45
    A little bit. Before today, oil was about 30% of my portfolio. Now it's at about 45%.

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    Originally posted by cloud7


    A little bit. Before today, oil was about 30% of my portfolio. Now it's at about 45%.
    im only at 20% and I do not believe I will add any more. biggest reason is that the energy sector even though I am in the hyperinflationary camp which supports higher stock market and oil prices. It is not shielded from any black swan event which could at any moment crash the entire complex.

    My faith is completely in gold/silver. Because it can switch between safe haven, inflation, negative interest rate. While it is subject to it's own volatility, as long as the world does not back their currency to gold, it will continue to appreciate for the rest of anyone's life.

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    if xbi is putting in a typical wave 2 correction here. I could see it drop to 54-55 area as that appears to look like the previous wave 3/4 range
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    Anyone holding oil shorts overnight?

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    nay^

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    so looks like gold didnt make a move and most likely was waiting for UK's rate decision. Since the news, gold as I mention could not close above 1348 (came to 1347) which was a backtest of the previous trendline break.

    so the suspicion of a 5th wave down is now fully in play.

    While the current H&S top as well as fib retracement both targets gold at 1308 which would mark the ideal bottom. Gold is looking like it is in a descending wedge. So we will see how the action plays out of the rest of the week.

    Again gold has been officially in a correction since last week and is looking for a daily cycle low. Once the bottom occurs, we should see a steady rise and resumption of the main trend for a couple of weeks.

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    one thing to note. US dollar breaking down yet gold is down. The theory behind this is that commercials COT are at record shorts and needed to push gold down as low as possible so that they could cover. once they do, gold will snap back strongly.

    silver remains resilient despite gold making a lower low, silver remains above 20, if only silver makes a panic selloff to 19 or even below I think I will load up on USLV
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    oil looking good to start the morning, however similar to gold. it too is missing a 5th wave down as it looks like it is in a wave 4 counter trend rally.

    if oil breaks below 45, I think it can still make one more lower low before bottom ends.

    in other-words I think close above 46, low is in. close below 45, lower low ahead
    Last edited by SilverRex; 07-14-2016 at 07:21 AM.
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    My current count on gold. once gold finds a bottom between here and 1308. I expect a higher high above 1375 to finish off wave (III). of course a even more bullish scenario can occur, but this is more realistic.

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    Devon Sold their 50% share of Alliance Pipeline for $1.4B.

    That gives MEG a number at least for theirs

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    sold Meg at open today ( may buyback depending on where oil goes) until oil breaksout, the possibility of a lower low or even towards 42 is still on the table.

    using the funds I picked up a position in ABX.to as it has been quite oversold of late while over all miners are still holding up well during gold's Daily cycle decline.

    I have one stake in Jnug and not feeling good to dial up the leverage again unless gold drops another 20 dollars.

    I feel there is a slight chance gold can potentially bottom here. so I will increase my core miners non-leverage. and if gold does drop another 20 dollars, I will sell some of my core miners and increase my position exposure in Jnug.

    also one thing that is amazing, is despite gold being down 20 dollars at one point today. Yamana gold hardly dropped.

    I feel we have at the very least one more surge in this sector to a higher high before this cycle finishes
    Last edited by SilverRex; 07-14-2016 at 08:34 AM.
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    i wanted to bring your attention to the GLD gold fund. while the gold chart appears a bottom 'may' be in place.

    looking at GLD chart reveals how exactly close it got to the previous wave .i, gold really needed to bottom now without breaching the previous wave .i structure. if gold in fact bottomed today. I expect a higher high ahead with GLD possibly hitting 133-140 area in the coming weeks.

    an even more power ful setup of a 1-2, 1-2 (green) could play out if gold decides to suddenly move up like silver did as gold has been very weak during this cycle. But lets not get too ahead of our self. as long as the trend remains up, i am quite happy with the progression

    Last edited by SilverRex; 07-14-2016 at 10:00 AM.
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    Sold baytex this morning and then rebought for a small flip. Nice little 1300 gain. Decent week so far 3500 gain.

    Have buy orders for baytex in low 7.20s.

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    Originally posted by cloud7


    Then it could go either way. And yes, you can quote me on that one.
    So are you saying.. the stock could either go up or down as well

    Quoted

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    http://www.stockhouse.com/companies/...aceuticals-inc

    I have a position in this medical marijuana start up. They are re purposing tomato greenhouses to grow the weed. Looking good so far I can see this stock taking off once their licence moves from conditional to fully approved...
    Tap, Rack, BANG!

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