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I'm amazed by the length of Trump Rally. Markets straight up since elections. Incredible.
NUGT is less volatile. JNUG tends to explode both ways so you need more guts trading it. Whether that's an advantage or not is a personal preference.
Weak NUGT would mean well below $12.
Yellen speaks tomorrow along with other FOMC members. It's always risky trading during those events. I'll wait with entry till then.
Gold doesn't look bad and miners even better.
Miners very strong today despite falling gold. I'll probably jump back in. This week is full of earnings reports.
Is this the second leg down I was waiting for? Go USD!
Whatever happens next week you pretty much nailed it yesterday. Congrats!
Good luck! If it goes higher I'll just buy higher, oh well...
Another day and we have absolutely different opinions :) I think we're getting ready for a next leg down but we'll see.
Low $11 today?
It makes me feel more confident seeing we have very similar targets. I have high hopes for tomorrow :)
I can only pat myself on the back for being penny-wise and dollar-stupid. Should've at least buy an entry. Oh well, waiting for $11.8 here.
I'm not watching today, so pissed at myself.
FML, I should've bought that DUST yesterday. 4 f*cking cents. I hope dip buyers show up soon. I hate to chase.
That's my working scenario. Earlier I thought DXY may bounce off of 100.5 and make a new high but it seems December top is all it can do. I think we'll see 102-103 range again, which will give some people a great chance to get in gold and miners at discount prices. That should be somewhere around half of March. From there, sky is the limit.
On the other hand, if DXY closes below 99.5 we may see a sharp drop like last year February.
I had an order for DUST $24 yesterday but that didn't fill. I hope to get a better price today.
Swampdude, I can't respond to private messages so all I can say is good luck!
I'm amazed that virtually no one seems to be realizing that we're at a pivotal point in DXY. I said earlier that I'm waiting for it to either go below 99 or above 100.5. The latter happened first so I'm out of this trade and I'm still waiting for DXY to take a direction. If we won't close somewhere below 99.5 on the weekly then I can already hear people screaming "manipulation!".
Earnings calendar:
ABX.TO - Feb 15
NEM - Feb 21
GG - Feb 15
NCMGF.AX - Feb 14
FNV.TO - Mar 22
AEM.TO - Feb 15
SLW.TO - Mar 21
GOLD.L - Feb 6
KGC.TO - Feb 15
First three account for more than 25% of GDX assets.
You may want to check the GDX chart I posted today. NUGT is nowhere near as solid/strong as it was this time last year. We're much higher and that means much lower potential for +20% days. Last year you could still buy&forget in February. Not so much this time.
We need gold higher but earnings can help us next 2 weeks. I have to make a calendar for it.
DXY above 100.5. I'll just stay with GDXJ and UGLD for some time. GLTA!
I agree, gold to $1250-1260 eventually and then a proper correction. Good luck!
What a great move yesterday! I sold just below $13 waiting for a small pullback that didn't show up. Maybe I'm rationalizing my trade but I'm with weazel on this. GDX and gold overextended. Waiting for a drop.
DXY trying to get above 100.5 as USD/JPY tries to climb back above 112.
Now, let's put some things into perspective:
I'm not watching at NUGT's RSI but will be taking some or all profits when DXY is below 99 or above 100.5 assuming no other events. Taking profits here is also not a bad idea but, again, I'm willing to take a bet this time.
GDX $25 WOOHOOOOO!
That's what I wanted to imply by that chart. I hope to see no surprises.
JNUG rocking once again. JDST will do the same on the next pullback.
We had a three days pullback end of January. Gold went down 6 weeks non-stop from November without any significant retrace so there's no reason it can't go up the same way.
I'm not selling until I see USD getting stronger. There are some theories that DXY will have last one leg up to 110-112, which would make gold revisit 2015 lows.
That's interesting because I've seen UBS reports since at least December and they were anticipating USD rising from H2 January to the end of Q1. So far it's not happening.
I'm 100% in NUGT. We're trying to break resistance right now so it may reverse or consolidate but I'm willing to take a bet that it won't last long. IMHO
Zerohedge article echoing my remarks about European elections + USD/JPY chart.
http://www.zerohedge.com/news/2017-02-06/gold-spikes-european-election-anxiety-spreads
Support for DXY was around $100.5 and it broke. Right now DXY is trying to climb back but if it fails... look out below.
From $12.5?
DXY is up and gold is up. It seems tensions in Europe send gold higher. It wouldn't be smart to flip right now IMO unless there's a reason for USD to go much higher.
Gold popping nicely. I'm glad I jumped back in on Friday :)
Despite what I said last week about "black swans" not being good for (paper) gold, there are some events that could possibly boost gold the same way "brexit" did:
* Marine Le Pen winning French presidential elections (May 7th)
* Increasing chances of Italians ditching Euro (https://mishtalk.com/2017/02/03/assessing-iexit-italy-increasingly-likely-to-abandon-the-euro/)
* Right-wing eurosceptic parties winning Dutch elections (March 15th)
I don't know how likely it is for Italy to abandon Euro but I'd be happy to hear an opinion from an Italian if there is one reading this board. All of these events are good for us as long as they don't result in sell-off in US equity markets.
NUGT $12.25 pre-martket. Looks moderately good. USD a bit higher but so is gold. Should be a good day.
Yep, I'd love it. I'm done buying and selling for today. Good luck to all and let's see that $5 gap up on Monday ;)
It seems USD got some relief thanks to some Fed shmuck and that's it. We should be going higher now.