Direxion Daily Gold Miners Bull 2X (NUGT)

[4Godnwv]

I have played in these waters for over a decade, actually got started in 99 when Mr Market made everyone look like geniuses. Played everything including the super sub pinks sheets. There are good arguments on both sides of the PM trades, and there are plenty of manipulation theories, especially in the futures markets.

That said, from a technical perspective, anyone claiming to have any idea where the bottom is for NUGT Is at best wishful thinking, perhaps delusional, or even intentionally misleading.

There is NO support! There is NO support for the GDX either!

I see no reason to think that "a bounce is coming" "to da moon" or "mother of all short squeezes" type statements have any validity other than one of the aforementioned motives.

I got stopped out twice on this, before foolishly deciding to 'average down'. (def, something people do when they find themselves on the wrong side of a trade, and foolishly think two wrongs make a right) Stuck now.

I do think NUGT will eventually have its day, albeit that day might be this fall.

Jmho,
4God