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I seriously doubt that. The only thing quick is to the downside.
Agreed and as I said in previous posts the market needs to cool off and yesterday was the the lowest decline in the market since the election. With the dollar going down and oil going down this helps the precious metals go up. Whether the miners decide to follow suit is the real question. At least for now and if it continues we have a good chance for higher prices in NUGT. GLTY
I agree just remember set a goal and stick with it. You never go broke making a profit.Patience and timing is the key to successful trading.
Hope you are right and so far today you are right.
To put it simple with FAZ if the market is in crash mode FAZ soars through the roof. If the market is soaring to the moon FAZ goes down the drain.
I agree and so far that is what we have. Keep on rocking NUGT!
Interesting read on this link about increasing interest rates and the enormous cost to carry this 20 trillion dollar debt. http://www.cnbc.com/2017/01/25/with-dow-20k-passed-20-trillion-on-the-national-debt-is-next.html
Maybe since gold and the dollar have been moving in the same direction lately but I doubt it. Opps don't look now but the al mighty buck just took a swan dive as well lol.
Right and don't look now but gold just took a swan dive.
Hope you right.
Just when I thought I have seen everything check this horseshit out lol https://www.bloomberg.com/quote/DXY:CUR
You are all welcome. Personally I think the gremlin will raise the rate BUT if by some reason she doesn't look out above.
Here is a must listen to podcast that explains why gold dropped so fast from 1262 to 1194. http://www.tfmetalsreport.com/podcast/8208/gold-market-update-andrew-maguire
swingforthe fence Friday, 03/10/17 06:25:12 PM
Re: Nightridertwou post# 31355
Post #
31794
of 31813 Go
NUGT trades
a lot higher than this always has
Nightridertwou Saturday, 03/11/17 08:50:50 AM
Re: swingforthe fence post# 31794
Post #
31804
of 31812 Go
Actually it hasn't if you remember back in Dec it broke its all time low of 7.20 and even went lower to 5.51. The day I made that post it did go into the 7's
No that was not posted yesterday I was replying to swing for the fence post saying NUGT never has traded that low about a post I made about NUGT going to the 7's back on Mar 3, which it did.
Mar 3, 2017 8.08 8.89 7.89 8.57 53,052,539
Actually it hasn't if you remember back in Dec it broke its all time low of 7.20 and even went lower to 5.51. The day I made that post it did go into the 7's.
If anyone wants any 7's you better get em now. I got a feeling this will close in the 8's today.
Fasten your seat belts we just about ready for this rocket to blast off.
Yes it is thank you for sharing.
I sure hope you are right. What's going on today has not been seen if ever that I can remember and I have been trading this ETF since 2013. I have a feeling this coiling snake is about to strike up like a wild man with fire ants running up his arse.
So the dollar, oil, and gold are all going down at the same time? Really? When is the last time that ever happened? I mean come on!
I agree now is the time to accumulate. Bought 500s @ $7.41 - Total: $3,705.00
This can fall to 7.20 real quick. When it does then a major reversal will rip your head off. Be patient.
There she goes. Another lower low and lower high.
If it busts 7.43 look out below.
I copied it and pasted it.
Direxion Shares Exchange Traded Fund Trust (JNUG): No Surprise in Recent Moves in Gold and Silver Markets
March 8, 2017, 3:12 PM EDT SHARE ON:
By Michael Ballanger
Let’s dive in to the cause of this week’s decline in precious metals markets:
ballangercover3-8
Given the big down move this week in the precious metals, it would certainly follow that the activities of the Commercials would be no surprise. They matched all of the demand brought to bear on the Crimex gold pit by selling over 40,000 contracts representing over 4,000,000 ounces of synthetic gold, and then nudged the gold market off the ledge. They did it with much-revered aplomb, but nowhere more daunting than in the nearly $1.00 collapse in silver that had the blogosphere buzzing last week.
After several decades of this maddening collusion, nothing surprises me anymore. To have an order executed with such virulence and total disregard to “Best Price Possible” is a clear signal from the ruling elite that removing fiat currency from the system in favor of real money will not be tolerated. To deplete your bank balance at your local Fed-member bank is considered to be blasphemy, because every dollar you deposit of your own fiat allows the bankers to play around with ten to fifteen times that in discretionary deal flow and trading. The more fiat you remove in favor of real money, such as gold and or silver, the less room (leverage) the banks have to “play.”
The Indian central bank has been battling this for decades because Indian citizens have grown accustomed to watching the purchasing power of their currency evaporate under the debasement regimes of central bankers. In other words, by removing cash from your bank, you are taking cash from the pockets of the bankers, and nothing removes cash quicker than gold and silver. When that cash is out, it leaves for good.
cot3-8
I have been warning against rushing to replace miners (HUI) and the various ETF positions due to the numerous dead-cat bounces since the breakdown in late February, which were the same type of bounces that lured me back in too early on previous occasions.
Whenever I ignore the optimum entry point for the RSI (relative strength index), I end up getting punished. So, here we are at 31.29 for the HUI’s RSI, which is, incidentally, the very place where they have turned in earnest since the bottom in late 2015. Now, the vast majority of letter writers here at the PDAC in Toronto are unanimously insinuating that gold “might” have a corrective phase in here, corresponding to the seasonal tendency for downside in March-April.
hui3-8
However, if you observe the seasonality chart for gold, you can see how mid-April offers such a superb entry point. So the answer to the question “Do you sell here into the PDAC curse?” is “No,” because the bulk of the decline could quite easily be behind us, especially with the RSI for the HUI now a tad above 30.
The same applies to my number-one trading vehicle for the mining stocks, the Junior Miner ETF (GDXJ), which was sporting an RSI above 75 back on Feb. 12 with the stock at $42.50. I warned against the KoolAid guzzling that was rampant at the time, because every single top had occurred from an RSI above 70. Now, with the stock at $33.42, I see another $5 downside before the RSI breaks 30. However, that could be here by the end of the week, so I advise to stay sharp and on your toes.
gdx3-8
Meanwhile, markets continue to tread water at or around the all-time record highs. Yet, today the unraveling has commenced, as the swamp-draining exercise promised by President Trump is becoming somewhat problematic. The bickering between former President Obama and the Donald has now truly polarized the U.S. into pro-Donald and anti-Donald camps, and is beginning to create a visible dividing line between the administration and three very important bodies of power, including the judiciary, the FBI, and the CIA. The last time a sitting president decided to take on any one of those three was JFK, and he was one of the most popular presidents in U.S. history, not a new president with a 37% approval rating. (JFK’s was mid-50s in August 1963.)
goldcourse3-8
This morning, I will be watching the RSIs for the HUI and GDXJ very closely, in an attempt to locate the bottom. These “technical breakdowns” have been fake-outs as long as I have been writing about the metals, and every so-called “gold guru” out there is calling for a move to test the $1,175-1,180 level due to the “technical breakdown.”
DUSTGDXGDXJGLDIAUJDSTJNUGNUGT
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Could be but I doubt it. I beleive it will get in the 7-7.25. That is where I have been trying to buy the last few days. Maybe third time is the charm we will try again. JMHO
I have said this many posts ago as long as the stock market is running like a freight train get out of the way hence gold goes down and what is gold doing as the market roars? We need this market to cool down which it just started doing the last few days. Gold is going to bottom around the 1190-1200 range. I am not selling my shares I will continue to accumulate more. GLTY
I had this feeling last week as it now rings true.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=97225113. Might be if your using old explorer your adobe flash player needs to be up graded. Use Chrome no problems.
Not at all look what has happened in the last 4 days. Gold itself has fallen dam near $40.
I'm thinking gold will drop to the 1215 range. That possibly could take Nugt to the low 7's even high 6's. I seriously doubt gold falling below 1200.
This puppy will be in the 7's before this day is over.