Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I got out earlier this week and started playing dust and am now kicking myself for it. Learned my lesson.
It's safe to say we won't be raising rates now
Oh I'm in other stocks long-term, but NUGT and DUST are my go-to swing plays. I try to make a good scalp weekly with these two to pick up a small chunk of change. I was mostly playing NUGT this year and played DUST last year. But obviously, the more you know about the market, the more you can make on those swings. I'm just trying to feel out how I want to play the next fed announcement.
Can you explain why the price of gold would go up if rates rise? Seems counterintuitive based on what we've seen this year.
I know a few of you are with me, but I really don't think the feds will raise rates in June. I'd like to hear your argument as to why/why not since this will directly correlate to our position on NUGT/DUST.
I know a few of you are with me, but I really don't think the feds will raise rates in June. I'd like to hear your argument as to why/why not since this will directly correlate to our position on NUGT/DUST.
Same here! Got into dust at $16.70, sold my NUGT at $72.80. I'm liking these swings.
I've got my buy limit at 64. Good luck to us both.
That site has been consistently wrong about the gold market (and this etf) so many times that you might as well plan to do the opposite of what it predicts.
Seems like support bounce to me. Might want to play Dust at this level. There doesn't seem like there is any economic news to support increasing gold prices at the moment so NUGT is going to suffer as a result. I'm staying out of the market for a bit until the dust clears (no pun intended).
Nice one! I love hearing success stories!
I'm insanely jealous right now. Good for you buddy, solid entry point.
Same here! I just switched trading platforms and my funds aren't available until market open tomorrow. Bummer for me.
FOMC minutes released tomorrow, always good for us
We'll see what global action and news brings next week. I'm personally looking for a lower entry point.
Come on guys this is an investment forum. Take the political discussions elsewhere. We're here to make money.
I'm thinking low 90's tomorrow with the $86 mark on Monday followed by growth through Friday. Purely me reading my knock-off crystal ball of course.
Got out at $106 this morning. Will buy back in at the next pullback.
Yea, kind of atypical behavior right now. Although we did see this hold the resistance point of $87 while gold was steadily dropping. Could just be a correction on the miners' parts.
You and me both!
Looks like we may see a cyclical set of points with no big news (rocket fuel) pushing gold. Seems like $87 is the buy point and $110 is the sell point. Similar to the $54-$65 cycle we saw earlier this year. If it stays nice and predictable, that's fine with me.
No this is a leveraged fund that tracks the price of GDX which is a gold miners ETF comprised of a number of publicly traded gold mining companies. These companies are heavily influenced by the price of gold but are not 100% correlated.
I sold off 50% of my NUGT holdings as a hedge and I'm holding the remainder over the weekend. Best of both worlds for my peace of mind.
What are everyone's thoughts about a weekend hold? Holding over the weekend always makes me a little nervous because you never know what news will shake down, but we haven't hit the new upper resistance limit yet so I feel confident. Sell limit price currently set at $118 which SHOULD trigger on Monday if growth continues as it has. Going to make my final decision whether to hold or take my profits near market close.
You're absolutely right. Every time there's a pullback we hear news of a strong dollar and a strong job market and the people in here lose their heads. Then they act like they expected the 30% gain when it happens despite saying it was the end of the road for gold a week prior. I understand it's hard to watch your money drop if you bought in a bit too early, but have a little faith. If it breaks the $80 resistance point, then you should be worried but we're still a ways off that now.
I would say the $85-88 range will be the low this time around. We'll likely have one more small day in the red with the rebound back up starting on Friday.
Congratulations and great job to all who held until today. I've been out of town since Wednesday night and wasn't going to be able to monitor my stocks yesterday/today so I sold at close on Wednesday and boy do I wish I'd held.
To all those who sold early like me, enjoy the profits you did make and don't worry about what you missed. There's always swings to be played and money to be made.
Good luck and happy trading
The last upper resistance point we saw was around $95. If it goes past that this time, it'll continue to around $105 I'd imagine. If it hovers around $94, look for it to pull back and prepare to re-enter around $80.
That's my input based on the way it's behaved since February. YMMV of course.
Gotta agree with Jbone here. Unless the news really sparks a gold boom in global markets tonight, it doesn't look like we'll get our $100 run. I lowered my sell limit to $91 and then will buy back in the low 80's.
No huge boom because of dovish news like in the past. I'm holding through tomorrow either way because now it should just trade between upper and lower resistance points.
My sell price is locked at $106 but I could see prices of 108-109 by Friday followed by a pullback to high 80's / low 90's. Holding from $81's.
I used to play DUST only last year when gold was on the decline. It behaved essentially the way NUGT behaves now. Once DUST broke 52 week lows in January, I switched sides and haven't looked back.
I felt the same way exiting yesterday. Everyone in here seems to know the NUGT game pretty well. The long holders are doing well, the swing guys are doing well, all good. Reading the DUST board is just depressing lol.
Checked the gold price first thing this morning and saw the high of $1,268, NUGT pre-market hitting $94. Got out of the shower and in the car and saw that huge drop in gold and NUGT. I'm sure a few got the hose first thing in the morning buying hype.
I'm right there with you. Profits are profits. Especially when you're playing with your own dollars and not wall street's.
I sold earlier @ 94.75. I'll gladly take an extra few points every time. Anytime NUGT/GDX runs, it usually runs well past former resistance points and 12-15% days are good indicators of it. You're right in looking for the pullback though. You're a true profitsnatcher as your name implies and from the looks of your previous posts, are swing trading with the best of them.
The Newmont earnings report might crush GDX gains for a few days. I'm all for taking the big bet but it seems too risky for me at the moment. I could be walking away from thousands but that's my call.
http://www.fool.com/investing/general/2016/04/18/what-to-expect-when-newmont-mining-corp-reports-ea.aspx
http://www.mining.com/community-opposition-forces-newmont-abandon-conga-project-peru/
I think we've got a few days of breakout growth here thanks to China. I'm thinking the pullback won't happen until Thursday and then we'll have a new set of resistance points to swing.
Of course it did. China implemented their gold fix. What did you think was going to happen?
I was debating buying in when it was mid 57's yesterday but decided against it. Oh well. I'll be back in next week. Might make a small dust play now while she's down.
Loretta Mester to speak at 12:30 ET, FOMC minutes at 2 PM ET, Yellen speaking tomorrow at 5:30 PM ET. Mester has been trying to push a rate hike since January. Her speech might deflate the gold price giving us a good low point to enter before Yellen reminds everyone how screwed we are and the gold price booms again. Thoughts?