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Maybe the stimulus news will offset the unemployment numbers. Timing coincidence? Maybe?
Ty. And yes futures look like they are handling it well. Many don’t trade until the bell however and not sure when the algos kick in.
When does the report come out?
Again. Spot on. Play UGLD if you want a more directly connected gold play with leverage. No leverage, play GLD. A quality miner is a good play too.
I’m glad somebody gets it.....
With that said, the lucky ones that got in at the lows, 3-4’s, should do very well. Unfortunately I’ve spent the last two weeks averaging down.
Well there’s the end of that tune. Fat lady might as well clear her throat. Sub penny land forever. Dilute at the worst possible time, but I suppose it didn’t matter. There was nothing left anyway unless they had a strong lean into one of their further along lead compounds. This company cost me a large fortune.
Why would you say that? Gold is slightly down. Stimulus still hangs in the balance.
100% correct. People overly state when JNUG is struggling to go up, as gold is flying, that this etf is NOT directly tied to gold, but trust me, if gold were to take a 100 point shit, gold’s massive decline would be the immediate and overwhelming excuse for a JNUG collapse.
We’ve been here a long time. We know JNUG isn’t directly connected to gold, but certainly gold’s bullish run should have an obvious impact on this ETF’s ability to run up at an accelerated rate. That simply has not been the case. It’s a contradiction to a contradiction.
Hanging onto this and averaging down like a monkey who enjoys a good kick to nuts but hates the delayed pain that follows.
Go gett’em son.
When looking at the chart, that puts it pretty close doesn’t it. Add in decay and we are where we are.
Problem is, at least for me, GDXJ could get its 40% back, which would return it to its recent high, JNUG would then, at 3X, get 120% back and put it at a measly $12, off its recent high of $105. And that’s if JNUG maintains its 3X leverage, which is supposed to get adjusted to 2X come May 10th? I guess that’s what you get when you hold a leveraged etf in a down market. Averaging down is my only friend if this continues to trend upward.
GLTY as well
I know what it trades with. GDXJ. Junior miners. 2-3X leverage which they are manipulating. I’ll blame the underlying index then. Either way. Miners should be fairing far better when considering how easily it declined to the downside, while the market and price of PM’s declined. If that doesn’t make sense to you, then, well you don’t get it.
Brilliant observation
Terrible. Disappointing performance. Adjusted multiple to the downside yet again. All indicators show this should be flying right now. Nope.
Hell, there are restaurant group stocks and oil stocks trading up 30% today. JNUG can’t get up 30% as a levered 2-3X etf when gold and silver are soaring. Disgusting!
Shit man.... it was accelerating on the way down to like 50X. Now stuck in the mud and periodically bouncing up 2X. Weak. But hopefully the spring is loading.
Yeah. It’s certainly setting up like a buy after the closing bell, sell into to open, then flip the dips, 15-20% throughout the day. With discipline, lots to be made thru this volatility.
Bounce into close and give us legs for tomorrow.
If it sells off, it’s just another reset to do it all over again tomorrow while gold went ballistic. That would suck.
If it holds gains yes....
Will they sell it off at the close yet again!!??
We shall see if these ETF’s sell off again at the bell. If so, with gold ramping, it shows that big money is simply flipping these daily and getting out so as to not hold overnight regardless of what the gold and silver market looks like.
Remember follow the money. The trend is your friend. It’ll be ground hog day all over again until the dust settles.
Sure seems like they can’t keep it balanced. This thing hasn’t traded as indicated in the prospectus for two weeks. NUGT has been a more consistent performer based on definition, but it too has been derailed a couple of times thru all this. Messy ETF’s. Now they’re changing the rules of these vehicles due to volatility. Sarcastic hypocrisy.
This we can definitely agree on.
Simply saying....
The miners show a better bottom line as a result of higher silver and gold. Eventually that will translate to better rev’s and Q’s for the miners. In turn, better Q’s will eventually make the junior index fund rise. That in turn will cause JNUG to rise 3X to the percentage of that index fund rising. Connected yes, directly tied to an immediate gold increase, no!
You can’t be serious!
JNUG up 24%.
SPY down 3%
I hope you’re joking. If you really believe that, then just buy SPXL !!
I’m sure you’ve heard this already but....
JNUG tracks the underlying index GDXJ, which is made up of a basket of gold and silver junior mining companies. Gold and silver price should affect JNUG indirectly. JNUG does not follow SPY but mining companies would at some point have inflection to an increase in the overall markets.
Lol. Hot sauce cures coronavirus...load it up. Actually, hot sauce cures everything.
What you’re feeling is probably gas from a frozen burrito. Manipulation in play yet again. The East drives gold up, JNUG up before open, and the West drives it back down at the bell. Seems like they will never let this thing run....
I’m from the city that makes more TP than any place in the country. They are near emptying their reserve shelves and shutting down manufacturing and some of the biggest suppliers in the country. Workers said they’ve never seen these shelves and now they’re near empty. Where will it come from? Can’t import it. Better find some old t-shirts or eat a lot of fiber.
Or loot. Or rob or steal. Or many other nefarious possibilities. Military presence will come soon with full martial law to follow unless an end is in sight. The worst of times with economic collapse at least short term. Ammunition is flying off the shelves. Youch
Six weeks to recovery....really? That’s insane. They have not stated that. Stay strong. Thanks for the real, accurate, and hands on information.
Well in this case, GDXJ, miners, and especially JNUG got obliterated with the market, so it sure as hell better participate in a rally if one does indeed come.
That was my mistake. No stop/loss protection. Up 20 grand at $100 a share by holding thru the storm and got greedy. Let it ride after the first big decline, and then started the averaging down debacle. Now I’m in nuts deep without a board tied to my ass. Shit or go sailing....
There was a drastic disconnect about 2 weeks ago from its underlying index. Charts will show this. I believe I saw a pr from Direxion last week about an asset selloff. I’ve read so much regarding this, I can’t remember what’s fact or fiction anymore, but it was in response to the action JNUG following the massive decline. ??
Well if they wanted to implement a new world currency this is their best opportunity to do so. So many ways this could go. I just can’t see a new currency in four months. Never happen. Euro zone going to crypto? US dollar would never follow. This is nutty.
Correctamundo. Brutal but correct. Those that see this differently will be in for a rude awakening. Quick flips are the name of the game. Entry here seems sustainable for those that aren’t underwater, but it could certainly play out again just has it did in the past. Reverse split and right back to these levels. UGAZ is a prime recent example of that.
See old timer, you’re one of the lucky ones that didn’t get screwed in the massive decline and rebalance of assets. So you can feel good about a twenty percent gain from here. Others not so much.
Not jealous just pissed off at the way this played out. Not many other funds or ETF’s go thru such a debacle. Gush the exception of course. The underlying indexes faired just fine. NUGT held up better. JNUG completely obliterated.
Stockitout is right from the standpoint that it would take the underlying index GDXJ to absolutely fly for JNUG to get back to half of where it once traded. It’s a percentage game now. GDXJ did not get rebalanced, JNUG did, so essentially that gap decline and valuation vanished, never to be reversed or where it once once.
Now for every 20% move in GDXJ you’ll get, or are suppose to get, a 60% move in JNUG, which is currently a measly $2. A month ago JNUG would be up $50-$60 dollars on a similar move. The percentages remain the same, yet JNUG’s price to multiple in the equation has been obliterated. The only way that corrects is a rebalance to the upside, which I don’t think ever happens. Idk. Maybe it did with tvix. Volatility has a different measuring tool than an ounce of gold or silver however. It can easily spike in comparison.
As it sits today, GDXJ would have to go up 1000% for JNUG to get back to $100. Gold and silver would need to soar like never before for anything like that to happen. Not sure it’s possible, which sucks, as I hold a hefty bag of this shit. Getting in now however, you could easily double or triple your investment in the upcoming weeks/months.
Fingers crossed. Heavy underwater.