Official Short-term Investments Thread

[Vanish3d]

so every time news is about to be out, GDX seems to drop off a cliff for a few seconds, catch all the stops then surge up.

If this time is the same, I'm gambling and trying to catch it on all counts.
bought JDST with sell order at 70 cents more, and I have a buy order of JNUG at 50 cents below current price.....

let's see if this pans out !

[Vanish3d]

nope. that didnt work lol

[bball2]

No rate hike, NUGT and JNUG doing very well

[SilverRex]

yup gold looking good to break 1332-1333 which is key weekly signal that will bring in further technical buying next week.

[bjstare]

sweet baby jesus. JNUG touching 20% gains.

edit: I'm out @ 21

edit edit: fck. Should have held out a bit longer.

[SilverRex]

we still have Yellen's words that can still topple today's gain or extend it further

gdxj is right up against a neckline. either it needs to breakout or risk selling off

[bspot]

Feels so good to unwind all of my JNUG. Flipped half to ABX and YRI.

[SilverRex]

Houston do we have a breakout?

[bjstare]

What chart is that?

[SilverRex]

Originally posted by cjblair
What chart is that?

gdxj

[Vanish3d]

Originally posted by bspot


Up 40% on NVAX so far.

Up 74% on MCRB.

Did anyone else get in?

I got into NVAX at 1.42 but only beer money amount so I'm not overly excited. Wishing I had some balls and threw some real money but it's a gamble either way

after hours is showing 2.15

[bspot]

Man is MEG lagging badly. I've been holding for $8 for what feels like forever. I know as soon as I decide to swing it 5s to 6s is when it breaks out

[SilverRex]

ok so everything is coming together for gold. I hope everyone enjoyed the massive rally in the mining sector, 24% on Jnug was impressive.

after yesterday breakout on strong volume. We should now look for follow thru that it should still have 2-3 days of momentum to grind higher.

There are currently two counts on the table. Majority of the EW analyst that I am talking to are expecting this rally to be counter trend, meaning it will only produce a rally up to the 29-30 area c of (B) wave, then fall to a new lower under 25 (in RED)

personally I have a bullish alt count but it will require price to strongly move pass 29-30 area and turn that area into support.

what this means is that once price gets back to the 28.5-29.5 area. everyone will gets a 2nd chance to balance their portfolio again.

I will be looking to take my profits on Jnug. only keeping my core miners for breakout and will only buy back if the red path unfolds

[SilverRex]

I see no negative divergence on MACD for gold on both 15m and 1 hour chart. this should mean gold is ready to at least make it to 1340+

selling half of my Jnug here. the rest if gdx gets over 29

[SilverRex]

miners pulling back, so far appears to be in a wave iv. there should be one more thrust higher wave v taking out today's top.

then we will see if this is just another head fake or a real break out. real breakout requires gdx to take out 30 and remain above this area for multiple days.

otherwise still leaning towards the head fake with the possibility of a big sell off

[riander5]

So what you are saying is that it can either go up or down. I have to agree with that

[SilverRex]

as you can see, silver is up against the down trend line that has held down every rally. Gold is similar near it's own between 1346-1350 and this would mark the 4th time gold is trying to breakout. although I have heard the the 4th time is usually the one that breaks out.

but until we see a sustain breakout + backtest. there will always be risk that it could top and turn around.

My personal bias is a true breakout because I have been bullish since Oct 2015. But it is nice to get some clear waves so that in the event it does drop, it will be another great opportunity to swing trade with leverage.

[Disoblige]

Miners are so weak compared to gold. USD strengthening keeping this down?

[SilverRex]

Originally posted by bspot
Man is MEG lagging badly. I've been holding for $8 for what feels like forever. I know as soon as I decide to swing it 5s to 6s is when it breaks out

ever since oil looks technically damaged, I have sold Meg and put it in Bte instead.

looking at BTE right now, it is still in a giant down channel. So until it breaks out, there is no momentum on the bullish side.

every rally appears to attract sellers.

I may exit all my oil position if bte some how makes it back to the 6.00 area. and rather wait until there is a technical breakout and re-enter on backtest.

a typical wave 2 correction often hits the 61% level and so it is still possible it can go that low.

[SilverRex]

Originally posted by Disoblige
Miners are so weak compared to gold. USD strengthening keeping this down?

yes this morning when gdxj was underperforming to gdx, that was a warning sign that miners is not behaving normally.

there is a lot of technical analysts calling for gdx to hit 22. so many remain caution with the latest rally and buyers are drying up fast. of course the counter positive argument is that the moment gold does breakout (real) it would cause a flood of panic buying.

so we just have to wait and see. My own strategy is to be able to play both. A core position for MT/LT and leverage on all the panic lows for ST gain as these extreme sell offs usually produce some sort of good bounce due to many investors trying to pick a bottom.