Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

I'm not sure what story miners are telling? After the initial run this morning, it was a slow and methodical draw-down the rest of the day. Formed an inverted hammer just below the 50 SMA on the daily. Pretty unbelievable it closed below 50 SMA on first major break of it. It's beginning to look more and more like this "breakout" was just another "fakeout". SMH.



Also, after forming a beautiful hammer on the 4 hour...the following candle was crap. Gold is way oversold on virtually every TF too, but who knows.