Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

The NUGT trade is definitely the equivalent of coming to a gun fight with a knife right now.

You can see watching real-time intraday charts, on all timeframes, how the algo's are programmed to push the price down and/or keep it from closing above support lines and MA's. They do this by "mysteriously" dropping the bid/ask right before a period ends or by using fractional prices (i.e. - 23.391 reflects on a chart as 23.39 rather than 23.40). Unless/until this changes, we are fighting a losing battle.

Not to mention the fact that NUGT is currently almost 6x GDX to the negative (GDX is down 0.19% as I type this and NUGT is down 1.15%).

Sadly, GDX looked poised for a great turn today if it could keep the current low/opening price and take out yesterday's high. Instead, getting ready to take the low of the day out right now...