Direxion Daily Junior Gold Miners Index Bull 2X Shares (JNUG)

[THREE-DAY-TRADER]

JNUG is based on the GDXJ. And what is happening contrary to past is that institutions are independently buying up Jr Miners despite the weak gold run. (in past gold & ETF funds such as JNUG tracked moves based upon gold more exactly).
Economic data has been good & surprising those of us trying to get into gold exposed stocks such as JNUG cheaper, & it is likely why gold has not broken past 1260's yet (but still surprising that it did not sell off lower on the good economic data and dollar strength).
If gold does not advance soon, then I'd expect a pull back in gold to 1240 again (or less?), then at that point we may get a pull back for opportunity in JNUG again before end of June... but question is how low would it go. Under 13 seems more doubtful at this point for JNUG.