LOL...hope your equity firm is doing better than you.

Yes, while everyone was calling for lower gold and what a resilience it showed in bringing it back up and holding it near $1200.

That said, I wouldn't quite call it a bull yet.

I think it's more like sideways in last 6 weeks or so.

Also, remember that these ETFs are designed to erode in value
every single day, so don't think about doing a long term investment
with them...unless you short and hold it.

Yup, there are some fundamentals underneath in a long run, but in short term, this is heavily manipulated.

This is how pretty much all 3x ETF charts look alike.

Pull up JDST weekly chart and see if that's any better.

This is why you trade these ETFs or short them for long term holding.

One thing I know for certain is that gold will not stick around at $1200 level like this forever, so it will break out of this pattern in the future.

Oil is the wild card right now. It's bit out of control.
It's trying to bottom right now, but if it does go to $40 like many
are calling for, then look for gold to break $1100, and possibly
tinker with $1000.

That said, our opinions are all speculation, and only God knows
which directions it will break out to in the future.

Sounds too much...there was a post on how to estimate the decay...
One of these days I should look into it to find out as exactly as possible.

Just by looking at the price I can tell the decay is occurring but
just don't know how quickly...

If anyone knows how to estimate this please post here for everyone's benefit.

It would be really nice to know that on average, JNUG/JDST decays
x% per day.

Excellent Call.

I was thinking on the high side, JNUG could have it $2.90.
Let's see if it can get over $3.

Will need help from oil, gold, USD, market, and some short squeezing. LOL

Previous target entry was ~$14, but due to decay,
I've adjusted the target to ~$12 for now.

Oil and Gold are generally viewed to have strong correlation and move in similar direction, so I'm not understanding your rationale on "Oil going down makes Gold go up"???

That can happen at times, but I don't think that's the usual pattern...unless you want to enlighten us with more detail of
what you know.

Final 10 minutes...more short squeeze time???

Good job, just remember that these ETFs are meant for short term trading.

Don't try to hit a home run over many days.

It is very easy to get trapped in these (JNUG/JDST) ETFs, and once a week or two passes on the wrong side, it becomes very difficult to even
break even as decaying chips away on its value.

Once JNUG breaks $2.50, it should run another .10 at least...but
possibly more if oil doesn't tumble towards closing.

JNUG is NOT a company...not even close.

JNUG is an 3 times leveraged ETF that is largely based off GDXJ index.

Also, GDXJ is NOT a company, and it's an index of bunch of junior miner companies.

It is correct for traders to hold negative view on JNUG (and JDST)
over long period due to guaranteed decay in value.

That said, decay or not, I've seen JNUG/JDST easily move 30%+ one day followed up with another 20%+ the next.

Theoretically speaking, if JNUG can do 30% today, it can get close to
$2.90, and a follow up 20% gain, would take it to $3.50.

But this would take Oil making some solid rebound, since that seems
to be the key market/gold driver in recent days.

$1200 continues to be home position for Gold.

It's like a rubber band stretching up or down some,
but it always comes back to $1200...at least in last 30 days.

USD down, OIL up, GOLD up, and MARKET up...in premarket.

Oil is the key. If it stays up, it will keep the gold and market up and we could see JNUG could see as high as 2.70+ and JDST could drop to 16- today.

Gold keeps coming back to $1200 level for more than a month now.

I've been thinking for months now on gold having a shot at reaching the new low in 2015, but some big money wants this near $1200...so I'm starting to fade my expectation.

Oil also seems to be battling for bottom right now as well.

Between oil, gold, and VIX, we have plenty of volatile ETFs to play for months to come.

OIL up, MARKET up, USD up, GOLD flat...

Recently, gold funds were tanking on sympathy for gold, oil, or market.
Basically, if one of those 4 fell, the gold funds were tanking.

But opposite is not true today when oil and market is rallying...

Of course USD is up but when USD was tanking gold funds also tanked with oil and market.

You see, these gold funds are very much manipulated. LOL

FOMC rate decision or any comments about is a huge influence to the
market, so look for violent volatility.

Keep noticing that somehow spot gold manages to stay near $1200
despite short lived dips or spikes.

Yup, I expect lots of volatility leading into, and just following
the FOMC announcement.

GDXJ is based on limited companies. Hence, JNUG/JDST are both easy targets
for manipulation.

Therefore, its extremely hard to predict the short term (day to day)
directions as manipulators do not always correlate to price of
physical gold, US dollar, Oil, and market.

That said, some group is also propping the gold back to $1200, when in
theory it should have tanked more based on rising dollar, falling oil, etc.

So to answer your question, carefully pick your entry point, and then
protect it with stop limit. It's better to lose the shares if your entry
ended up being bad, and then to buy back much cheaper later... or even to
flip to the other side.

I lose my JNUG/JDST shares on stop limit about more than 1/2 the time
for small losses, but each win tends to be pretty big.

In other words...MANAGE YOUR LOSS FIRST, then MANAGE YOUR PROFIT.

Don't get trapped just holding these dacaying ETFs for days and weeks.

Traders seem to be shorting ahead of FOMC rate decision tomorrow.

Expectation is for Fed to start raising rates possibly as early as mid 2015. Rising rates in US is considered negative for gold.

Recently, JNUG is in horrible shape as...

it drops when gold drops
it drops when dollar rises
it drops when oil tanks
it drops when market drops

Expect sharp movement (in either direction) again around 2PM (EST) tomorrow.

Up 70% in few weeks. Looks poised to run up much more.

As long as oil tanks hard, gold will be pressured in sympathy.

Since OPEC is not motivated to hold up the oil price,
I think the free fall may continue.

Some are calling for $40 as the oil bottom...but that's similar to
$800 to $1000 bottom for gold. Could happen, but the longer the
gold stays near $1200, $1000 or lower bottom doesn't appear likely.

So I think similar could occur with oil. People are calling for $40
oil, but it may find support at $50, and its only few bucks from there.

I'm waiting for oil to get just little bit more closer to $50,
and then I like to play the call option on oil and also
consider NUGT/JNUG.

JNUG @2.00 is not a bad entry to try, as long as you have stop limit
at .05 or .10 cents below.

Finally! Good job.

Took a lot of patience!

Daily chart showing possible drop to $48 to $50 range.

Haven't read it, but I'm not into hitting consecutive grand slam homeruns like that.

I think short term game is more fun and profitable.

Periodically, when I see a highly probable play, I use the options
for a big score.

You are still reporting after the fact.

If you want true honorable transparency,
you need to post full facts in advance and not after...

1) Post intended entry price and share count (before it is triggered)
2) Post the time entry got triggered for verification
3) Post the stop limit price (before it is triggered)

Otherwise, it will sound like a busy paper trading magic as to
- how (and at what price) you got stopped out when price went against you
- and how you got in when price moved in your direction.

A practice like this will actually help you become more disciplined
and it will improve your trade eventually.

4G yesterday on PUTs, and 2.5G so far today on CALLs.

Just had a hunch that economic data will be good and that
market will reverse yesterday's huge drop.

Still holding the 117 weekly calls.

Looking to scale out between 117.70 to 118 levels.

Loving this volatility. LOL

Congrats if you feel proud to make some profit!

But my wallet really don't care about anyone's profit or loss.
My winning today is 4G on IWM put options, and that's what matters.

And if you want to really impress others, post your buy and sell price
and share count in advance and not after.

Everyone know its too easy too call out...
"I've sold everything" after it tanks, and "I'm in" after it spikes.

Good luck!

It can work if JNUG/JDST trades within a range and there is enough
movement within the range and you are in intraday "scalping" mode vs.
hitting a "home run" over multiple days or weeks as both will decay
in value.

I occasionally do something similar with both call/put options
for FDA approval pending stocks just before the announcement
because after the report is released, one side becomes 100% loss,
and the other side can pop several hundred to over 1000%.

So if you gain 300% on one side but lose 100% on the other,
you still net 200%.

But market makers know this trick, so they often inflate the
implied volatility to raise the option premium, and then flatten it
after the results to reduce the payout.

Going back to your strategy, rather than just buying both at the same
time, look at the trading range in the last 2 to 3 days, and buy
each direction at separate time.

And use stop limit outside that range, just in case the it breaks out
of the range.

By "JUNIORS", you mean junior stocks? or GDXJ?

Let's cover the easy one first...
never buy any 3x ETFs (JNUG, JDST, etc.) for buy and hold investment.
Everyday, the value will decay. Few days...even perhaps a week
won't be too bad, but certainly, multi weeks and months, will severely
erode the value. These are meant to be traded vs. invested.

For long term (perhaps 6+ months) investment, you should actually
buy Junior stocks, and or their leap (long term) options.

But if gold does fall below $1200 for a long period, some of these
junior miners may not survive, so make sure you do full due diligence.

If you really want to guarantee profit, then simply short both JNUG/JDST
and hold it for a long time, and let the erosion become your profit, but
this will lock up your funds and additional margin requirements.

If you are really bold, you would sell naked call options for both,
and let both the ETF value erosion and the option's time decay to work
in your favor.

Sounds simple? But its actually more complicated as selling option
and short position can create unlimited loss possibility if one side
goes terribly wrong.

I think the board member "Dr. Contango" was doing something of this
nature, where he was selling options and rolling them over to the
next month as they expire. If you can catch him, he might enlighten
you with better expert details than I can.

Have fun.

Gold holding onto $1230 range.

World market is beginning to crumble a bit, so bad news for the market
means, good news for gold funds.

Also, dollar has dropped 3 straight days now...helping the gold.
So dollar drop seems to be offsetting the oil drop at the moment.

I'm very patient with my entry and also protect it with stop limit,
but you make the call on your trade.

For me, no JDST entry until $14 or lower, which can happen any day,
given that JDST can move few dollars in a day.

Good luck.

World market is starting to shake up a bit.

Greece down -13.5% yesterday, and down another -5% today.
Shanghai also dropped -5.4% yesterday.

Europe was positive but now they turned red.

It's ironic, but any scare in marketplace is usually good for
gold / gold funds.

If market continues lower, JNUG could see $4 again finally. LOL

Still preparing to pick up JDST somewhere near $14 or below
but trying to figure out exit point for JNUG now.

Thought for sure $4 was very possible with huge gold spike yesterday,
but these funds drops fast but often do not seem to bounce back as well.

I totally agree. That would take gold to be perhaps $1500 level,
but by the time gold does (big if) bounce back that high,
many many months would have passed, and there would have been
further decay in JNUG.

Gold holding up at $1233 in Asia so far...

I have order triggers for JDST at 14, 13.50, and at 13.
All with .15 cent stop limits.

May not get there today, but that's the range I'll consider
picking up JDST for now.

Yup, normally Junior outperformed the senior in recent weeks,
but today they are reversed.

Also, I've noticed in recent weeks, every time gold drop,
it bounces back up over where it started the drop.

Heck...this is all manipulated anyway, so what do I care.

I'll just trade the volatility. LOL

LOL...trading with "aroma trigger sensors"??? LOL

If gold can stay above $1230 level by 2PM (EST),
could we see JNUG run up towards closing like it has done
in recent weeks?

Still like the chance of JNUG getting over $4 given the
huge spike in gold.

This is the best level gold's been in many weeks now.

Panicking? Shorting the wrong ticker dude. LOL