Direxion Daily Gold Miners Bull 2X (NUGT)

[doglover1]

Let's see. We're at 3.75. If it drops another buck and a half tomorrow we'd be at 2.25. Then another drop of a buck and a half Wednesday and we'd be at .75.

Anybody expect that to happen? Of course not. Horns and bells don't go off at bottoms, but VERY HIGH volume is always a pretty good indicator of bottoms AND tops, and volume has exploded in the miners and the 3X ETF's today.

Could we see 3.50? Maybe, but I doubt it. If we do, I'll be glad to buy some more. And more on any further 50 cent drops from there.

And Direxion Funds aren't run by incompetents or idiots, they are among the most respected in the industry. The reason this is getting hammered is strictly gold price related, not poor management. This is panic selling, another sure sign we are close to a bottom.