History repeats.
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Dollar inverse relationship to $Gold/$NUGT. DUH.
https://www.poundsterlinglive.com/usd/12341-u-s-dollar-advances-as-fed-rate-pledge-trade-headlines-offer-support
WHO could have predicted Trump causing the dollar to run after testing 200 dma and then pointing down towards a retest after market close on the 4th..? Further emphasizing the risk of short term trading.
Cannot believe I just wasted all that time on YOU.
My trades have been highly profitable,(sometimes 1000's of percent) but I trade data and long term.
While you trade short term 2 to at most 10% trades if you're lucky while paying short term capital gains I pay long term. I don't need the day to day gains for bills..
When I do trade short term it's less then 5% of portfolio and end up more then ahead, but it's more for fun then anything considering the environment.
Btw, I just turned 30, how old are you?
Seriously glty
Gold almost reset NUGT going higher soon.
Going trillions of dollars into debt for non existent growth makes ABSOLUTELY NO SENSE. Especially when debt was the problem to begin with.
People globally are mistakenly flocking to the dollar for safety not realizing we are making all the same mistakes as everyone else. Hence the dollars recent large decline due to the 'fed's comments on inflation being too low. Code for we are about to make a BIG mistake to TRY to artificially prop up the market by further destroying the dollars fundamentals and giving the bankers billions. Which is absolutely ridiculous.
In fact we lead everyone into removing the backing of our dollar in gold in 1971 due to military build up for the cold war and it was supposed to only be 'temporary' as well.
See a pattern forming yet?
Most people are stuck in cognitive dissidence and the belief that because everything looks okay today that it will be okay tomorrow. and we can go trillions into debt w/o consequences.
Believing in this would be insane, but I guess people have a herd mentality. Even if this is for some reason a small recession I will be one of the few that saw this coming.
Truth will prevail dollar will fall, consumer prices will rise, fixed income folks will be screwed, and gold/miners will rocket.
Reserve currency chart
https://usdebtclock.org/
Nice fundamentals.. lmao
The data is behind the dollars move lmao. If you cant figure out whats behind the dollars temporary move I dont know what to tell you. And the markets falling into recessions globally and people world wide mistakenly believe in the 'fed' policies even though they don't work. This Gives intelligent people a chance to make a LOT on their mistake. Santa isnt real and the gov't, politicians, and the 'fed' dont love you. Price fixing doesnt work. Only a socialist would believe in such central bank garbage policies.. Think Soviet union in the 80's..
Proof is they had to abruptly stop 'normalizing'(raising rates) blame China and start QE(dulition/inflation of our USD by the hundreds of billions) when the 90% of the last 'tempory' QE still exists on the 'fed's balance sheet and resume lowering rates with rates already below market pricing due to the fact we are headed into recession.
You WILL see in time. I guess you believe the next ISM will be great? And recessions are fake.. Lmao
Watch the next ISM report.
Experience(age) has gotten you brainwashed..
The data is the dollar lmao..
Dont know if you know this but currencies trade overnight.. $NUGT doesn't and NUGT has an inverse relationship with the dollar. Weird so does $Gold..
The dollar was about to break down until @realdt and kudlow set off the algos.
Manufactoring..
https://www.cnbc.com/amp/2019/10/04/its-official-manufacturing-is-getting-crushed.html
https://www.instituteforsupplymanagement.org/ISMReport/MfgROB.cfm?SSO=1#newOrders
Weird NUGT is above 27.5 lmao
Fighting the fed in 2001 and 2007 worked well.. ;^)
Im not helping you any more.. Good luck with your 'trades'.
Tell me what percentage of GDX's overall holdings that is?
$Gdx Miners still have earnings.. ;^)
My target was adjust due to the DATA changing.. Not that hard to figure out. This is why short term trading in this market is a joke and those that attempt equally so..
Market cycles only last 4-7 yrs its been 10 and manufacturing is in serious contraction and debt has EXPLODED..
Can't believe I really have to argue this.
'Fed' is selling our kids, parents, and grandparents down the river and people want their 2%-5% short term trade gains w/e.
You honestly believe this can go on indefinitely..?
https://usdebtclock.org/
Call me crazy, I'm on the otherside thats definately not following the lemmings..
Don't worry, the gov't loves you.
Betting against this isn't even betting..
This is sad.
$Gold is getting ROASTED, but my entire long portfolio is still up 37%.. Considering I bought into the gold market in may-june..
Buying NUGT today an tomorrow. Bought some 29's.
Last of the mania/euphoria imo.
If dollar keeps rallying $gold could drop to 1500 causing $NUGT to fall to 27.5. In my opinion it cant go much lower.
On the next gold rally watch NUGT. It will go down.. Just kidding that would be silly. ;^)
Only thing holding this market up is trade bs, algos trading on fluff, and fed injecting 100's of billions of our $ to their friends(#QE)..
Crazy how the dollar rallies in the short term off this junk..
#Bulltrap
Glta
Couer Mining Q3 revenue increased 23%
https://www.kitco.com/news/2019-11-04/Coeur-Mining-ups-revenue-23-in-Q3.html
$Gold The week ahead.
Hmm.. They're both down.. Let me think.
Is gold supposed to go down and NUGT supposed to go up? Haha
Critical think.. Why would traders be nervous to jump in? Think leverage + Uncertanty = NUGT price action
Now think gold breaks 1550..
Maybe majority don't know if this past move in gold is real and think gold price is about to fall and need further reinforcement to support a perspective of higher gold prices.. Then think miners income.. Lmao
Fortunately for me, I know the move is real.
You honestly think once the gold move is confirmed and breaks past 1550 NUGT will what be down compared to gold..?
Looking for $29 NUGT if possible.
Dollar rallies on trade hopes(BS).
https://www.investing.com/news/forex-news/forex--us-dollar-rises-on-upbeat-trade-news-2011368
Looking for price go beneath my purchase price to bring my cost avg down on $NUGT.(Hoping for 29$)
Before trade hopes fall apart/$USD breaks down and gold/$NUGT rallies.
Glta
$USD has been somewhat a safe haven play since may 2018, but is that finally over now? The dollar is looking to completely decouple and becone significantly inverse to $GOLD/$NUGT due to Powell's statement that he would need to see 'really significant' rise in inflation(dollar devaluation) before hiking rates..
Careful what you wish for..
As you can see the dollar has been trending with gold/NUGT in May 2018 and june 2019 due to the false perception the dollar is the prettiest horse in a glue factory. Is this over? Is gold taking the up the mantle as the one true safe haven play?
Will we get a dollar dead cat bounce before the 200 dma break?
Glta
Lmao.. because the 3x levarage against the underying commodity that was headed down..
$NUGT higher next week..lol
Hmm.. Looks as though gold will be up, dollar down, and miners within the GDX index produce earnings in the next couple weeks..
https://www.cnbc.com/markets/
I wonder where NUGT will go..? ;^)
Curious where we'll be in a week or two..
Glta
$NUGT inverse correlation to $USD [Chart]
Watch for $USD 200 dma break down in the coming days for $NUGT breakout confirmation..
(Inflated dollar=more supply=lower $USD purchasing power=higher $Gold prices=higher $NUGT)
If I saw a major correction coming I'd sell my long positions, but I dont see what would cause gold to go down dramatically. Unless we found a mountain made of gold affecting supply.. I dont see a serious breakdown until after we break all time highs and set some records..
There might be a good flip opportunity for selling half at most of my miners @ 1900 gold in 2020, but thats all I could see that would be worth it.
We will see.
Glta
We shall see. Happy your back on the board to hash this out.
In my opinion something bigger then 2016 is here. That is why I went long all my miners, but I never went long NUGT. I just am starting to wish I would have because I see it doing the same but higher once gold proves itself as more then a random rally. If this baby collapses in half I will buy a boat load and try to protect my holdings by flipping if need be until take off.
I honestly dont care how long it takes. I know I'm right about the 'fed'. I believe NUGT will FLY in the future producing hundreds of percent gains.
Also NUGT follows gold and the confidence I have in gold would cause me to hold NUGT through the volatility as I have with all my miners that produce comparable gains and somtimes beat NUGT and JNUG.
Thanks, agreed. Lot's to be made.
The reason $NUGT has been going straight down is gold and miners income has been going down. Nugt has been doing its job considering its leverage, well the same will be in reverse.
Dont get me wrong there will be swing, but once the market gets it there's no changing it.
No risk, no reward.
Some can dish it, but not take it.
Glty appreciate it.
I think my point has been made.
Although, it's not my fault I am the only one posting so I am the only one noticed. Others with differing opinions are welcome to post, but they don't. Im sure you can pm them if they're afraid of other's opinions.
There is also a ignore feature if you so choose.
Btw, my posts are directly tied to NUGT. If you dont think so. Ask the ihub mods and they will delete.
Time will tell.
You dont know my political thoughts, but Im beimg political..
Never knew math was political.. ;^)
Politics and gold price obviously have a direct affect on NUGT.
Btw NUGT went from 15 to 160 in 2016..
Glty
And the 'Fed' is meant to keep everything stable.
If you were to hold this in 2016 when gold rallied what did NUGT do? I know the rally abruptly failed, but that was due to the the markets false belief the 'Fed' would be able to normalize/raise rates under Trump.
I know they were never going to try if Hilary had won due to the economy falling back into a serious recession, but most thought she would have been the bees nees if you go by the popular vote. Trump gave the market hope and the 'Fed the best chance it had at normalizing rates through investor sentiment/confidence.
The reason gold resumed its rally is because the market is slowly realizing the 'Fed' CAN'T 'normalize' rates. 'Fed' keeps things unstable and worse it allows those close to it to consolidate massive gains creating the giant wealth gap/inequality..
Imagine where NUGT, JNUG...etc will go WHEN gold hits and inevitably breaks 1900 and oz.
Data leads to technicals. If you know where the data is going you know where the technicals will be..
There will be a lot of miners with earnings in the next 2 weeks that will directly impact $NUGT, $JNUG, $GDX, and $GDXJ. The short term trade will have been buying the lows last week and selling into earnings.(buy rumors, sell news) problem is you'd make 10-20 percent and pay a massive penalty in the form of short term capital gains.
Imagine paying long term capital gains on 100's of percent gains..
Or you can believe the Fed is all powerful and can manipulate recessions away forever..
The 'fed' power hinges on this obviously undeserved confidence through complete ignorance.
“Power tends to corrupt, and absolute power corrupts absolutely.”
-John Emerich Edward Dalberg-Acton
Nothing is forsure except math. 2+2=4
Now imagine the economy tanks and Trump and Capitalism is successfully blamed and one of these serious communists gets in LMAO Serious things ahead..
We need ppl to see Socialism got us here..
Its hard to have hope when I dont know if any of you out there reading this truly understand, but I try.. Easy to buy gold and gold based assets and make tons off the cycle market cycle created by the 'fed' if you get it... ;^)
Glta
Trading the data seems better then using technicals.. ;^)
Technicals end up bending my way sooner or later.
https://thehill.com/policy/finance/468600-us-debt-surpasses-23-trillion-for-first-time
'Fed' adds 104 billion in QE to the markets..
https://www.wsj.com/articles/n-y-fed-adds-104-583-billion-to-markets-11572615867
See $NUGT much higher soon..
Jobs are a lagging indicator compared to manufactoring..
"ISM manufacturing index for October came in at 48.3 versus expectations for a reading of 49.1. The number was reported at 47.8 in September. A reading below 50.0 suggests contraction in the sector."
https://www.kitco.com/news/2019-11-01/Gold-briefly-pushes-above-unchanged-following-downbeat-U-S-manufacturing-report.html
Jobs report says 128k jobs..
"128,000 jobs were created in October. Economists were expecting to see job gains of 90,000."
https://www.kitco.com/news/2019-11-01/Gold-prices-hit-with-more-selling-pressure-as-U-S-economy-created-128K-jobs-in-October.html
But who knows..
"The Bureau of Labor Statistics announced that, according to preliminary data, 501,000 fewer jobs had been created between March 2018 to March 2019 than officials had initially estimated."
https://www.politifact.com/truth-o-meter/article/2019/sep/12/revisions-jobs-data-what-you-need-know/
Gov't #'s are like penny stock pr's.. ;^)
5,000 jeeze I was thinking maybe reaching the highs @ $1,900. ;^)
Then again the debt problem has only gotten worse.. So maybe just over 2k
https://www.usdebtclock.org/
Nice to have true colors show..