Direxion Daily Gold Miners Bull 2X (NUGT)

[Googlesaurus]

Because Leveraged Funds are grate for riding waves up or down. Most people day trade NUGT if not weekly. It is advised to Do your homework and read the charts and invest at own risk. Also don't follow what others do on here, this is a forum and you don't know who is saying what and why. I am spelling most this out as I'm thinking your new to investing or don't understand how NUGT is traded, no disrespect to you if you are, just with a question like why buy when going down on a fund that is Leveraged is a funny question.

In case you did not read the info on NUGT, here is a copy past.

Fund Strategy
The investment seeks daily investment results, before fees and expenses, of 300% of the performance of the NYSE Arca Gold Miners Index. The fund creates long positions by investing at least 80% of its assets in the securities that comprise the NYSE Arca Gold Miners Index and/or financial instruments that provide leveraged and unleveraged exposure to the index. The index is a modified market capitalization weighted index comprised of publicly traded companies that operate globally in both developed and emerging markets, and are involved primarily in the mining for gold and silver. It is non-diversified.
Morningstar Category
Trading--Leveraged Equity
These funds seek to generate returns equal to a fixed multiple of the short-term returns of an equity index. The compounding of short-term returns results in performance that does not correspond to those of investing in the index with external leverage. For example, a fund attempting to achieve 2 times the returns of a given index on a daily basis is unlikely to deliver anything like 2 times the index's returns over periods longer than one day. Many of these funds seek to generate a multiple of the daily or weekly return of the reference index. Trading funds are not considered suitable for a long-term investor and are designed to be used by active traders.

Hope this helps. Good luck.