Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

It's quite feasible that I may begin to fart cotton candy smells after today. LOL.

After a horribly timed initial entry in DUST at GDX 200 SMA...and a seemingly perfectly timed reappearance at my computer to average down...I ended up down just 0.30/share from my average cost (27.85). Whew!

Now, I'm pressing my luck...as I've held all shares for the following reasons/gambles:

1. Every time GDX has breached 200 SMA this year, it has quickly retreated (3 times)

2. Taking a stab that ABX and GG earnings aren't "stellar"

3. Gold has run pretty hard, pretty fast and is way outside bollys. Needs a cool off to allow things to catch up.

4. Max pain on options expiration Friday is GDX 22.00. They never seem to let it close 'too far' away from the level they make the most money

4. Last candle on the hourly has full potential of becoming a shooting star depending on first candle or two tomorrow morning.

All of these are worth the risk to me, but undoubtedly a huge gamble. I want to see GDX prove itself to me that this isn't yet ANOTHER head fake. All JMO!