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$MJTK ~~ up 30 % so far for me in late afternoon!!
Plenty of .002's available at Bid for a nice profit for day trade flippers like me. (Solid, liquid .0022+ at bid when I post this)...
29-30% profit here within a few short days.
Glad I bought plenty @ .0018 Monday & some again @ .0016 this morning.
(avg of .0017)
And been saying it'll get back to .002's for a quick short term trade flip.
Been anticipating & hoping for .0025-.003+, but we will see yet.
My suggestion to anyone following me since Monday 12/19 -- has been to set limit orders @ .0018 (or less), and not to chase it above .0019 max .
(so I don't promote, but offer quality quick short term trades for followers).
My post history proves all this.
With subpenny OTC stocks, I also always tell people as a rule -- not to risk too heavily on any one subpenny stock due to their risk & liquidity type of equity, which therefore allows for best risk/reward.
Over time (with each trade in-out averaging approx 2-5 days time only), doing this with low risk on each adds up with good consistent yield (applying a good 'reward' % ratio on low risk $$$ amounts each time)
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$$!! Merry Christmas !!$$
Plenty of .002's available at Bid for a nice profit for day trade flippers like me. (Solid, liquid .0022+ at bid when I post this)...
29-30% profit here within a few short days.
Glad I bought plenty @ .0018 Monday & some again @ .0016 this morning.
(avg of .0017)
And been saying it'll get back to .002's for a quick short term trade flip.
Been anticipating & hoping for .0025-.003+, but we will see yet.
My suggestion to anyone following me since Monday 12/19 -- has been to set limit orders @ .0018 (or less), and not to chase it above .0019 max .
(so I don't promote, but offer quality quick short term trades for followers).
My post history proves all this.
With subpenny OTC stocks, I also always tell people as a rule -- not to risk too heavily on any one subpenny stock due to their risk & liquidity type of equity, which therefore allows for best risk/reward.
Over time (with each trade in-out averaging approx 2-5 days time only), doing this with low risk on each adds up with good consistent yield (applying a good 'reward' % ratio on low risk $$$ amounts each time)
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I've done this many times before today successfully --- So I wasn't 'worried' too much about this.
But all trading carries some risk, which may include some 'worrying', right?
Truthbible--- Maybe you could learn a few things from me or some of the others here who make money, rather than snarling at others.
$$!! Merry Christmas !!$$
Don't be a scrooge, and learn the error of your ways for 2017
***********$MJTK starting to break out... so far above .002+.
This was given out earlier (by me) @ .0016-.0018 all this week.
I'm not sure if it is news coming out. But it has been due for a technical trade higher into mid-.002s or .003's regardless of news catalyst.
Check my posts on this & recent subpenny stock trading record:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127361329
**********$MJTK ~ LEVEL 2 showing nice technical signs & improvement since this morning.
Level 2 action giving real merit to my statement earlier about selling likely near done in short term & that we may see .002+ return (for starter movement at least).
************I gave $MJTK to you here since Dec 22 yesterday @.0016-.0017 Ask availability (opportunity).... and there was plenty of .0016 shares available earlier today on the ask... so plenty of time for anyone to follow along here.
I'm still sticking to my original speculation of .0025-.003+ as very probable in short term for a trade.
LEVEL 2 showing nice technical signs & improvement since this morning.
Level 2 action giving real merit to my statement earlier about selling likely near done in short term & that we may see .002+ return (for starter movement at least).
I'm still sticking to my original speculation of .0025-.003+ as very probable in short term for a trade.
***********$MJTK ~~ Price seems to be stabilizing since yesterday....
http://investorshub.advfn.com/CannaSys-Inc-MJTK-28798/
Anticipating good chance of .002's or higher soon for a short term trade
Dec 22 - Dec 23(mid-day)
Interesting, some added info.
But still no assurance on timing to affect the pps here on MJTK (objectively speaking).
In any event, short term technicals may lift this for a while back to .002+, which is mainly what I trade upon.
But a good news catalyst is always welcomed!!
How sure are you about the info and timing due out? You have some web site links about its development?
Thanks.
Selling in short term seems mostly about done. (Or Maybe I'm Crazy to think that)
Today so far seems to be slowing down (even condescending the day before 3 Days of holiday vacation)
Support holding yet @ approx .0015-.0016.
Should see our way back into .002's.
$RUSS stuck in a trading range for the time being... Keeps me cautious on it yet.
Interesting to see if 20+ holds on the RSX. Otherwise it looks set up on Daily Chart for a decline from what appears so far, particularly if 20 on RSX breaks down.
And the rally seems to be fading already.
Why It's only good as a quick flip day trade stock (for quick profit taking), particularly in this downward or sideways phase JNUG & Gold are in where no bottom has been confirmed.
And Stop-Losses should be based upon 1125 $GOLD needing to hold -- FYI, as I said before in posts.
A break below 1125 would see next levels such as 1100 or possibly below that and would result in JNUG to new lows near 3.50 (if gold goes below 1125), & if Gold breaks downward below 1100 it would result in 2's approx for JNUG most likely.
That $USD is resilient, and many have underestimated it in past several weeks while unfortunately trying to hold onto JNUG.
$USD holding that 102 level after that nice pull back earlier this morning.
I've tried to warn about the strength of the $USD here since at least November.
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My post below about JNUG back in November:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=126779796
11/23/16
..."We have yet to see if $Gold tests 1100. So far it's broken below that significant 1200 threshold towards 1180."
"A lot of people have underestimated the $USD move upward in recent weeks & have been getting burned trying to find a bottom in miners. I've avoided attempts to swing trade JNUG for that reason, as I've respected the $USD to be increasingly stronger lately, but am watching it now."
"That said, for the time being this is best played as a 'quick flip' trade after major sell offs for very short term entry-holds & quick profit taking, rather than trying to time a longer term swing trade hoping for a bottom during this period of gold's current state of risk combined wiht the 3x daily fund decay."
"Likely a bottom will form again by about January (or sooner), but it's too dangerous to try to determine or presume a bottom (as this could sink quite a bit yet from now thru January, etc.), & it wouldn't surprise me at all to see JNUG hit 4 or even 2 in coming weeks
But again--- It's great for intra-day trading or quick flipping, rather than excessive holding periods."
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**************$MJTK ~~ Get yourself some while its still cheap.
.0018-.0019 has been available yet today on Ask.
Looks like a good flip-trade soon possible toward .0025+, maybe .003+ (based on daily chart shaping up so far).
SEE POSTS BELOW for more info.
I've been trading subpenny stocks with some good success ever since November when I became more active with them. (& they're not part of my official record on e-mail alerts yet).
You can see more of my recent trades on OTC subpenny stocks over at my board --- FYI
http://investorshub.advfn.com/THREE-DAY-TRADER-29802/
In $MJTK:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127346223
In $MJTK @ .0018 (& Sold $ONCI 12/19 for a nice profit)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127294331
So far $GOLD 1125 support still holding up since last week.
That makes for some near term positive technicals and for good trading on this at least for the short term so far (but not long term holding), all-while $USD taking a hit for the time being.
This doesn't yet mean any full bottom in place & confirmed yet, but again it looks good for some short term positive action.
***Short term = Poised for upside most likely...
That said, it's normal and typical for OTC & subpenny stocks to dilute over the long term to fund their business ... But that doesn't mean they can't be short term traded for excellent profits.
$MJTK is a perfect example of that all-the-while I view various posts on here that are uselessly yapping about "lower" & "no bid".... {LOL}...
It really goes without saying that the trend on stocks like this is lower in long term (as it's obvious & common knowledge to everyone), and effectively it's a useless waste of time to post about it as it has nothing to do with short term swings and successful short term trading.
Eventually that lower & no bid fear may happen, and is natural over the longer term with these types of stocks to trend lower, but again--- it doesn't mean these aren't very trade-able.
Thanks!! some of those I listed as watching are showing some nice movement off of lows today, however I'm not officially covering those that you're in--- FYI.
I'm personally only in $MJTK in terms of any subpenny trading at the moment.
MJTK looking good with potential higher. (too bad you can't buy MJTK under .0002 as you say unavailable to you on your Canada brokerage)
I saw your PM yesterday, but I couldn't respond being on Free Status here. I'm not a hard core message board person (and don't need the subscription or other tools, etc.)
I also followed you back))
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I also have a private subscription e-mail list.
Go to my profile page for info.
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Best Regards,
3-D-T
Yep, $MJTK level 2 looked good today with a nice close to .002, & also it's holding up nice support ever since Tuesday 12/20 (from .0016).
{Also note the T-Trade after hours @ 16:07:10 @ .001742 pps @ 5.69 million shares}
This'll likely be a good short-term-flip again soon in my speculative opinion.
I suspect .0025+ at least due here, and a good chance to see above the .003+ resistance area when also looking at the Daily Chart technicals developing.
In since .0018 for a starter:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127294331
$MJTK held up nicely with some notable resilience this morning (from .0016 low) after they dumped some shares, attempting to push it down yet again.
Personally, I think it has a good chance for higher potentially soon.
Most likely we may have seen short term bottom today.
Intra-Day charting showing good signs.
The daily chart also appears to be shaping up well, which could be an indication that it might break out of resistance much higher on next move above the .003+ area.
Please, let's not go round and round about this.
When you were talking about price affect from a split, you seemed to have been talking about sentiment being negative and making people want to sell, and that causing a negative affect on the trading price.
That's what I was talking about.
I was saying that doesn't happen because JNUG is based upon GDXJ. Only if GDXJ has a split can it affect JNUG (thru negative market sentiment about fearing a rev split, etc.).
When there is a split, we agree that a price changes (of course!!), but the market cap value stays same & the JNUG/JDST moves purely based upon the GDXJ.
Again--- The whole point of people worrying about splits is the market cap value being affected. The value is not affected. Each day the JNUG moves based upon % of what GDXJ does (3x usually). Before, during, after any split the % moves each day are the same. In that sense, the splits don't affect the price or value (market cap) of the 3x fund.
Hope I cleared that up.
No more discussion on this please. (I won't reply)
Ok, but I said base selling (or stop-loss) of JNUG on $GOLD support needing to hold of $1125.
Gold hasn't broken 1125 yet (as of early morning).
So if JNUG bounces from here, don't hold it against me.
Anyhow, I've been saying here to avoid this since November (so I wish people had listened more to me then & before today as it sits at new lows, much lower over -50-65% lower since my first post in November)
JNUG is not a normal stock. It's based upon the GDXJ.
For a normal typical stock (as I pointed out in my post earlier), a reverse split tends to be negative in affect, but with JNUG it moves on the GDXJ (ETF) index.
Only if GDXJ would have a rev split, then what you're saying would affect JNUG negatively.
Rev Splits dn;t affect the 3x funds themselves, because 3x funds move based upon another underlying component, and in JNUG's case it's the GDXJ, so a rev split only on the JNUG or JDSt has no impact.
I've traded thru the splits in past years, it's never been an issue like a normal common stock would be.
The 3x funds rest daily, and move purely on the underlying index. The % movement is the same each day regardless of any splits.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127297096
The proof is in the charts, too.
Look at multi-year history of JNUG, JDST, NUGT, DUST. All their past trending movement is same as the GDXJ & GDX.
The GDXJ movement is similarly same as JNUG in terms of trend. When ever there was a split on JNUG, it had no affect. The daily chart trend always same and based upon the GDXJ (with exception of leveraged decay factor).
And if you don't agree with me, that's fine.
We'll just agree to disagree.
Have a nice day))
You should've already had a stop-loss set long ago, but now that you're in the predicament you're in, you should base latest holding of JNUG on $1125 gold support needing to hold (last week's low).
It is really close to breaking that 1125 today in early morning.
If it breaks 1125, then much lower below 1100 toward 1050-1070 next levels would likely drop toward.
...so effectively have a stop-loss on JNUG based upon that.
Personally, I'd just sell now ASAP, but if you want to give it a chance, then see if 11125 Gold support holds. Otherwise sell JNUG if it breaks below $1125 gold support.
If the next levels lower on $GOLD occur under 1100 (along with strong $USD pressure that I've warned about since at least November). then you cold see JNUG at 2 and you'd then presumably be at even a much worse loss than now.
If you sell here based upon 1125 Gold needing to hold, you can always re-enter later (rather than continually losing money).
Right now pressure from lower gold along with leveraged decay are killing JNUG.
3.90 area in pre-market so far... yikes!! (Holy Decay Batman!!)
***Don't keep holding this if Gold breaks below 1125 support. Avoid being a chump like some of the others around here who are holding long term hoping for some sort of 'end-of-the-world' scenario to bail them out of their constant loss which gets worse everyday (and which don't listen to people like me everyday as JNUG keeps dropping).
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My post below about JNUG back in November:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=126779796
11/23/16
"Likely a bottom will form again by about January (or sooner), but it's too dangerous to try to determine or presume a bottom (as this could sink quite a bit yet from now thru January, etc.), & it wouldn't surprise me at all to see JNUG hit 4 or even 2 in coming weeks
But again--- It's great for intra-day trading or quick flipping, rather than excessive holding periods."
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LOL, that doesn't make any sense at all (referencing your quoted contrasting analogy).
And as to your other prior posts; I wasn't ever quoting you, I was earlier making my observations about you having a 'deluded strategy' & that you are in 'denial of reality', & I was trying to reason with you (but apparently you refuse to listen to good experienced advice)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127281697
Anyone who's an experienced trader that understands how this 3x Fund really works & reads your posts today along with prior days would likely totally agree with me.
Again, as stated in prior posts, Good luck to you... I suspect You'll need it.
"And to each his own", that's one thing I actually agree with you about!
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pnew122
"I might add if this is not a long term strategy,
then neither is life. After all, you are just going to die."
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You're basing a speculation possibility on an 'If'.
None of my posts denied the possibility of an 'If'.
Just made clear other related points and that you don't know when that 'If' scenario will happen, and that's one of the points I've made in posts earlier.
The potential for Gold to eventually shoot up huge in the long term is there, but that's an 'If' in the long term that no one knows when it will happen for certain.
That's why you don't invest in 3x funds long term normally. You don't know when the 'If' scenario will happen and in the mean time the 3x fund likely will chew off your arms & legs while you hold it hoping for an 'If' to happen (like Casino & lotto ticket gambling).
Best thing to do is to scalp this for quick trade flips during the unknown phase as it downtrends or moves sideways, so that you consistently net a yield & avoid the 3x decay. 3x Funds are only designed for short term trading.
I demonstrated that in earlier posts this morning and since last Thursday (12/15) when I prognosticated a quick flip opportunity of 4-7% before Friday (which did happen).
12/15/16:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127263391
You can do better making 5% (or 20%+ sometimes) on quick flips once per week than you ever will by attempting to hold this long term.
If you made 5% per week on your money on average consistently over the long term, you'd do better than 95% of traders and most of the market in general.
(Just my view)
Best of luck to you.
3-D-T
$MJTK ~~ looks good here for a short term trade flip.
Been watching it for a while.
http://investorshub.advfn.com/THREE-DAY-TRADER-29802/
I got a starter earlier today @ .0018 (as posted about elsewhere earlier at my board)
This post today is a big help that someone else made:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127286018
Otherwise research on internet about 3x leveraged fund decay, and also go to Direxion funds (for JNUG/JDST) website to help yourself.
The decay & fund value is impacted different on a downtrend and with sideways action, rather than compared to the uptrend period.
What you need to simply remember is to just short term trade 3x funds. Don't invest in them for long periods of time (unless you are very certain it has bottomed)
Good Luck $ir!
JNUG moves along with GDXJ on intra-day basis at a 3x pace, but not necessarily needing to always close proportionally 3x to the price.
As you can see today on intra-day for example, it has exact same trend.
But problem with today's unique trading is that the decay (from the 3x leverage) hurt JNUG net value or net close price because JNUG right now has been in a downward or sideways trend.
When 3x funds move down, especially sideways, the decay is the worst.
{Which I've posted for a while now about, that owning this during this period in recent weeks is not wise}.
The price difference in JNUG at close today from GDXJ is a great example of the 3x decay leverage affect that the managing institution enacts on it when it is in this sideways & down trend phase..... to help answer some other people's questions as well today
Don't 'invest' in 3x funds.
Just trade these short term as I always have said here recently and in the past at JNUG & other related 3x boards
(and better yet just day trade quick flip them during this phase, rather than hold for long periods of time)
Again, 3x funds are not for long term.
Re-read my posts please. If you say that, then it means you didn't understand my posts about the subject.
Long term potential speculations & long term fundamentals, etc, don't apply to something designed for short term trading.
So if you feel like throwing money at a lottery ticket, then do what you want, buy JNUG for the long term if you want. It doesn't matter to me. I've said enough on the subject.
Only if you bought now & it happens to bottom at same time for the next 1+ year does it have any chance to be worthy of a long term chance for prosperity.
But that's just a gamble if it 'happens to bottom' when you buy & if it would stay up in trend for a year or more.
Nearly all people who hold this or any 3x for that long term (1 year, etc.) hoping for an economic disaster to eventually happen in the long term usually are people who lose money.
Just trade this thing. Only designed for short term trading.
Invest in normal stocks (or Gold/Silver) if you want something that eventually would benefit during bad times, apocalypse, etc.
Thanks. But Splits (Reverse or Forward) have no negative affect on 3x funds.
All that matters for trading them is knowing movement of the underlying component that 3x Fund is based upon.
In the case of JNUG, all that matters is the GDXJ.
Every day JNUG resets daily and moves purely on GDXJ by 3x (per day performance), so holding thru splits matters not.
In normal cases I agree, you don't want to own a stock that has a rev split pending in process. But with 3x funds, they reset each day regardless of the share price wiht any pending split and move simply based on the underlying component/index.
I know this first hand, (as one example) having owned NUGT & DUST in prior years when they did Reverse & Forward splits (which move on the GDX index fund), & the splits never impacted anything.
All one needs to know with the 3x funds is the direction that the underlying component moves.
When ever JNUG would do an eventual rev split, it won't matter in terms of your $$$ Value while holding it & trading it.
It'll continue to move same % each day based upon exact movement of the GDXJ.
It's a common myth people tend to think that a rev split will affect the value or movement of the 3x funds.
With typical stocks, rev splits statistically most of the time are a negative that pushes down a share price (due to fear of a split, etc.), but 3x funds are different.
JNUG, for example, could be $2.00 one day before a split, and the next day be $50.00 & the movement in % terms will be same (and the long term daily chart movements will look exactly same regardless of any splits), and that's because it moves purely based upon the GDXJ.
The institutions that manage these 3x funds simply do splits to 'clean house', keeping in check the excess shares available (caused by the leverage over time) and the listing price requirements, etc.
Splits are just part of maintenance (think of it like a vehicle tune-up), and the splits have nothing to do with causing an impact on the fund, & that's because the fund only moves based upon an underlying component each day regardless of share price & affected splits, etc.
I got some $MJTK today @ .0018 starter. It's been good for quick trade flips every 2-3 days for a while now (and been watching it for some time already and wished I'd traded it more already in the past). It could likely go back to .0025-.003+ in near future.
If you follow along on this one, I'd suggest .0018-.00019 limit, but no higher than approx .002 for entry for best result targeting.
Sold $ONCI today for 67% on my last subpenny quick flip trade (see earlier posts), & I'm happy wiht that regardless of wherever it may go next up or down.... as i always take profits when opportunity presents itself.
Watching other subpenny OTC stocks such as $MYDX, $MFST, $ASTI, $BIEI, among a few others.
$ONCI up again today!! High of .0024, a 100% move from my .0012 suggestion last week.
I'm out already since .002 for 67% gain in 3 days.
ALWAYS TAKE PROFITS --- Don't be left holding the bag.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127253127
It was available many times Thursday (12/15) @ .0012 Ask with plenty of opportunity to enter before it began to shoot up Friday 12/16.
Sadly, you're deluding yourself with an unrealistic strategy while you are in denial of reality.
Clearly you don't understand how this 3x Fund really functions. It's not a long term investment mechanism.
You are in denial of reality while you try to find comfort in the idea that the world markets will crash to bail yourself out of your huge loss on this.
Sure, it's possible that in a few weeks or months this JNUG might move up huge, but you're counting on too much of a need for a miracle to happen while you keep holding or averaging down on something that loses money quick (& on a daily basis with 3x daily reset decay factor).
Someday the markets may likely crash, but as I tried to explain to you before, you should be carefully loading up on regular miners for long term, not on this 3x fund.
You can't apply long term fundamentals or long term speculations that the market will crash because JNUG is designed for short term only.
I'll say no more to you on this subject. You either understand, or you don't.
Best of luck to you.
Kind Regards,
3-D-T
{FYI >>> I only post on msg boards a few times per day on average, so I don't spend time here excessively, as I'm a an active trader/analyst}
And it was 'flippable' on Friday (Dec 16) for a quick day trade higher for 4-7% profit from lows on Thursday, just as I had pointed out might likely happen (which is all this is good for right now for a strategy--- just quick flip trades, and not extended holds).
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http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127263391
12/15/16 (Thursday)
"Back in November I was talking about a 2-4 range likely yet on JNUG between mid-December(after FOMC meeting) and January time frame, and that trying to buy JNUG for an extended hold period is a mistake.
During this tough Gold period, JNUG is best for quick day trade flips only every few days (after big sell offs).
That said... at this point from low 1220 area on $GOLD, we may see a bounce after today-- at least for a quick flip trade to benefit JNUG from today's 4.20's (& I would not be buying this much above 4.50 if one is trying to quick flip trade this).
But still not calling a definite bottom here."
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http://investorshub.advfn.com/boards/read_msg.aspx?message_id=126779796
11/23/16
"Likely a bottom will form again by about January (or sooner), but it's too dangerous to try to determine or presume a bottom (as this could sink quite a bit yet from now thru January, etc.), & it wouldn't surprise me at all to see JNUG hit 4 or even 2 in coming weeks
But again--- It's great for intra-day trading or quick flipping, rather than excessive holding periods."
$ONCI!!!! Popped for us on Friday (12/16) from my .0012 suggestion Wednesday afternoon (12/14).
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127253127
It was available many times Thursday (12/15) @ .0012 Ask with plenty of opportunity to enter before it shot up 50% (to .0018+ so far as of 12/16)
I was referring to decay during downtrend periods in all my posts. You're quoting one bullish uptrend period instead, which is different (just ask any other experienced trader with these 3x funds).
Perhaps I should've specified even more in my posts about the decay factor being different-worse during downtrends, but at the very least my posts emphasize avoiding long periods of holding during downtrend periods (in combination with the decay factor affect).
Anyhow, think whatever you want about the 3x leveraged daily decay factor & blow it off if you want. I'm not going to spend excessive time trying to convince you & everyone. I made overall clear my posts & analysis.
Take from them what you wish.
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"Daily decay? Not much if any."
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3x leveraged funds, especially ones like JNUG/JDST on downtrend for an extended period of time are not the type to be held for long periods of time.
Most people who do that end up having their arms & legs chewed off.....
{and look at the guy I posted to yesterday who's in @ 8.20's waiting for long periods of time; which helps make my point}
When on downtrend periods, it is best to wait to take advantage of multi-day sell offs, then sell on first pop that may happen (for a quick flip), rather than holding, hoping for trend reversal to eventually happen in weeks to come or whatever.
The down trending periods in combination with 3x rapid daily decay on these (especially JNUG/JDST = worst of all 3x funds for volatility) will usually wreak havoc on a person's ability to ever make a good yield.
When on a downtrend with no end in sight, its' best to quick flip these, for 5% (up to 20%+) or more per trade, per week, and JNUG (or JDST) has always been capable of that, which I've posted about in past at JDST/JNUG boards.
during downtrend periods, doing that 'quick trade flip' strategy keeps you out of 3x decay harm & allows you a net good overall yield, which is far better than holding for long periods of time & averaging down on a downtrend.
Hence, 5% or more per week is far better for yield, instead of holding, hoping for an eventual trend reversal.
If you averaged 5% or more per week consistently over time on your money, you'd be doing better than at least 95% of traders.
Only when downtrend reversal is confirmed does it only possibly make any sense to hold these 3x funds for extended periods of time (for multi-week swing trades).
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I learned all this from experience (good and bad trading on these Gold ETFs/ETNs). I know what it's like to get killed trying to avg down for extended hold periods on this type of 3x fund while on a downtrend.
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Well noted!! But as you see in my post, I also mentioned that one might be able to trade this from low 4.20-4.50 area (if bought there) for a short term quick trade-flip in next day or 2.
While I remain somewhat bearish in terns of trend yet and question yet where bottom is yet on JNUG, I did mention today's drop has a decent chance to be taken advantage of for a quick flip trade (at least, regardless of bottom occurring or not).
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I mostly concur.... And we're at low 4's today on this JNUG stinker. I tried to tell people again yesterday not to pre-judge a bottom yet, that the market had not enough time to price in latest negative catalyst by the FOMC.
Back in November I was talking about a 2-4 range likely yet on JNUG between mid-December(after FOMC meeting) and January time frame, and that trying to buy JNUG for an extended hold period is a mistake.
During this tough Gold period, JNUG is best for quick day trade flips only every few days (after big sell offs).
That said... at this point from low 1220 area on $GOLD, we may see a bounce after today-- at least for a quick flip trade to benefit JNUG from today's 4.20's (& I would not be buying this much above 4.50 if one is trying to quick flip trade this).
But still not calling a define bottom here.
$USD is a powerful bullish monster yet & people have made the mistake in prior weeks & months not respecting $USD bullishness to continue (which also I warned about in November here).
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I couldn't post earlier because I-Hub apparently was having technical website/server issues.
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http://investorshub.advfn.com/boards/read_msg.aspx?message_id=126779796
11/23/16
"Likely a bottom will form again by about January (or sooner), but it's too dangerous to try to determine or presume a bottom (as this could sink quite a bit yet from now thru January, etc.), & it wouldn't surprise me at all to see JNUG hit 4 or even 2 in coming weeks
But again--- It's great for intra-day trading or quick flipping, rather than excessive holding periods."
"Puking"? (after today's drop again)... You said.
...Does that include you?
I see you are in avg @ 8.21.
Yikes, my friend!! Yikes!!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127228736
"Still holding big from 8.21-and have no fear. "
These 3x funds with their rampant decay (daily reset) are not designed for the longer term hold.
If you want to be in Miners while giving yourself plenty of time to stomach downside volatility for many months or maybe longer, you should be in a standard Gold/Silver stock play (such as GDXJ, AUY, etc.)
Too early to call 'bottom' here & with $GOLD.
Most likely the market hasn't had enough time yet to price in FOMC strong language which surprised the market.
...And in any event, you can't be conclusive of such based upon such a small segment of $GOLD & $USD trading data (after market) that you referenced. So far what you mentioned can be only regarded as typical & mere intra-day volatility with $GOLD & $USD, which have acted like this lots of times the past few weeks thru today, yet the trends continued.
Anything's possible-- you could be right, but all you're doing is presuming at this point based on less than enough data to call a bottom.
In my opinion, I see a certain amount of indicators that show potential for bottom, but there are still multiple factors & indicators that point to more chance of lower $GOLD yet in interim short term.
At this point JNUG only good for very short term day trade flips (not extended holding), where first profit that may occur should be taken quick.
JNUG could pop back to 6+ tomorrow or this week, but it would likely only be relevant for quick flip-trading & typical volatility while still being on a longer time frame based down trend, and still wouldn't prove yet a 'bottom' occurring.
It'll be interesting too see what happens after today & next couple of weeks, & I'm still analyzing before swing trading it or calling bottom reversal here yet (but do like it as always for quick flips or intra-day profit skimming).
Been bearish for a couple months on this & still am yet. However, as said in past weeks, I'm anticipating a swing trade opportunity for a 'bottom' here between December (after FOMC result today on 12/14) & approx January time frame.
That said, a lot of pain possible yet on JNUG between now & sometime in January