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Thanks for the input, your charting is always appreciated
Wouldn't mind a pullback so I can reload. NUGT's looking just as solid as it was this time last year.
I'm thinking the global markets will move the gold price more overnight than the domestic markets will today. Tomorrow will be good for us.
I bought back in at 10.50. Once the FOMC announces no rate hike, we'll watch this go green by about 10-12%
All the long time NUGT traders know this is going to give us a solid 15% run tomorrow if rates don't get raised. I'm guessing it'll trade like it usually does on FOMC announcement day. Sell-off in the morning so the big boys can buy in low, yellen will give some spiel about outlook remaining positive but no rate change will take place this time around and we'll see NUGT take off tomorrow and Thursday. I wouldn't be surprised to see 13's on Thursday when the global market digests news of unchanged rates.
I always wait at least a day to let the global markets react to the news. Hasn't ever let me down.
Happens every time the few days before a fed announcement. This is typical.
My guess is a mix of Friday profit-taking and manipulation from the big boys so they can get in low before the "no rate hike" announcement. Happens every time.
Anything that happens between next week and 9/21 can essentially be written off to be the same manipulation that occurs before every FOMC announcement. The lowest I see it dropping is to 21's again and that's just cause to load up before it goes into the 30's after Yellen announces there won't be a rate hike. We've been in this same situation several times this year so far.
My thoughts exactly. We've ridden this wave long enough to know the game.
Right, my mistake. This is a forward split
Split happens on the 25th and it's a 1:5 split
Consider it an opportunity to average down if anything.
My hope is that the Asian markets have a positive reaction to the England rate cuts and we have one more small day of growth before we see the consolidation. I'd like to sell off tomorrow around 178
Correct me if I'm wrong here, but a split doesn't do anything for us right? Because this is an automatically leveraged ETF, share prices are balanced out by Direxion investments directly. More people buying/selling this doesn't make it rise since it just tracks changes in the price of GDX which, in turn, tracks changes in the price of the mining companies in the index.
I've got a limit sell at 168 for half of my holdings to take profits and re-buy but I would love to be right about the second half of my holdings hitting the 180 mark.
I honestly think we'll see 160's by tomorrow, possibly 180's on Friday. Once the global markets react to the unchanged rates, I'd expect this to open with at least a 7-10% gain and climb slowly from there through the day.
FOMC announces whether or not there will be a rate hike tomorrow. It's 95% not going to happen and that always spikes the price of gold / lowers USD value. This leads to a 20-50% increase in NUGT every single time.
Same here. I told myself I'd add more today if it dipped again but here we are up 10%. Should've just pulled the trigger and averaged lower. Oh well.
We tend to climb the fastest when international markets spike the gold price overnight. We'll see some movement in the next week. Maybe even tonight. And definitely after the fed meeting next week. We all know where this is headed.
Been holding a 132 average but may have to add some more at these prices. If it drops more by tomorrow, I'm definitely loading up. Ice in my veins.
Thank you for the info
What are you referring to? The job reports?
Let's see what we come up with!
We won't. More than likely we'll see it tomorrow / later this week.
Been waiting for a pullback to add more shares, bought in some more @ $143. This is going to run big in the coming months. I don't think I'll even try to swing it anymore. I just keep missing growth when I do.
So what do you think will be the outcome of this week's vote and what effect do you think will it have on the markets?
The UK leaving the EU would cause a fair amount of global uncertainty, sending the gold price way up. Back to where it should have stayed last week after the Fed meeting. If Brexit doesn't happen, some tension should subside sending the gold price down temporarily. I'm not saying it's going to stay down forever. But we'd probably be looking at the gold price to hit the 1240's again and start climbing from there.
Brexit is really putting a damper on things right now. If it passes, NUGT is going to the moon. If not, gold is going to get knocked down to a lower resistance level.
spoken like a true analyst lol
It's looking good now. Wait for the madness to slow down and see where it's at towards the end of the day and watch what the news of new rate hike does to global gold markets. Anyone not holding through tomorrow at least will be kicking themselves.
This short manipulation has happened every time the feds are set to have a meeting since February of this year. Take a look at the charts. It's big money manipulating the miners down for a low entry point that they can profit from when gold soars.
If there's a big drop tomorrow, I'm buying in then. IMO a rate hike isn't going to happen which always gives gold a huge temporary boost and gives NUGT 20-30% runs. I want to be holding again when that happens.
I believe the numbers themselves are accurate but that they don't paint an accurate picture of what's really going on in our economy.
I'm out at $112.67 as of this morning. I don't know the exact reason why gold blew up overseas last night so I took the profits that presented themselves. We'll see what happens tomorrow and Friday.
We might close at 1260 but there's a roof in the mid 1260's that would take either domestic news or overseas movement to break through. I'd guess for a small pullback before that happens though. After next Wednesday, we WILL break 1300 and potentially stay there.
There's definitely some resistance in the 1260's and we've seen that same number become a resistance point before. Might Fed news next week to get gold to cross the 1300 mark.
I think we'll see a slight correction in the gold price down to ~$1,251 and then we're off to the races again.
Yellen speech and discussion panel today. How are we feeling about her ability to bullshit her way past the awful numbers we saw last week? Are we looking at opportunity for growth today or an opportunity to buy in at a dip?
Gain Monday w/ pullback Tuesday. Feds delay rate hike on Wednesday due to poor economic data. This could see $150 next week IMO.