Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

Goodness! I need to stop traveling for the sake of my fellow traders here. The last 2 times I've traveled (early June and this weekend) the day has been a big gap-up with new highs that appear to be a breakout...only to reverse hard and create a nasty outside candle!!! This is also why I rarely travel with positions open (I actually had a small 1k position in SCO as my only open that was up 8% when I left and I'm now slightly down in. SMH.).

Since I didn't witness it firsthand, I'm speculating here...but it seems like gold broke above 1300 and was immediately sold hard which spread to everything else gold related? The daily candle on Gold Friday is nasty too (hammer top???).

My other thought is that OPEX was Friday for GDX...and max pain was $22.50. Seems like no "coincidence" price gets hammered back down close to that just in the nick of time for options above $23 to be worthless?

GDX low of the day right on EMA 8 and close right on EMA 4. Still above 200 SMA which is good, but appears we get further back-test of the descending LT channel breakout line around $22.63ish as of tomorrow. Gonna be an interesting week...