Direxion Daily Gold Miners Be (DUST)

[mannken]

Prudent and wise choice

I only pulled the trigger on a contrarion over crowded bounce play and only 15% weighted as compared to my previous full weighted long Dust position. The odds are slim that Nugt will bounce going into Monday with the current technical's, so I kept the position lite and will cut if there's a close below 27.25, the low end of the rounded top pattern. Nugt 27 brought in a lot of buyers, so we'll what happens Mon/Tues.

If there is a bounce, I won't stick around long. I had set my bounce entry target @ 27.50 and later revised it on Thursday to 26.60, looking for resistance at the 200MA. Still stand by gold heading to 1000-1100, The Fed has Gold boxed with policy.