Direxion Daily Gold Miners Bull 2X (NUGT)

[SgtJBone]

I wanted to post this since I'm sure I might get opposing views on NUGT's board to get any opposite insight from my own views.

The pundits had everyone fooled on Gold and the markets. According to them the sky was going to fall and gold would jump $100 overnight. Well that didn't happen.

What did happen was just the opposite. The overnight futures dropped like a rock, but not out of fear. The big boys were just reallocating their funds into companies that would be tapped into once rebuilding infrastructure, and the military started.

Yes I think we all fell for the greatest head fake in our lifetime. A Trump administration seems to be bad for the gold market until inflation starts to pick up, and that could be a couple of years into the future.

Charts are great but when outside forces change in the market the charts will not help you predict a move up only where the bleeding should stop.

I've said before that I think gold will be sitting at $1050 very soon in December. Some seem to think I'm crazy, but I think it may even move lower than that. I think it may move back to $750-650 range before inflation picks it up again in the long term. The meeting that all of the gold experts had last month predicted gold I believe at $1350 next year, but they were all assuming that Clinton was going to win the elections in the U.S., but now that scenario didn't play out as they had hoped. The experts got it wrong on everything I believe.

The money will be in the bond markets as Trump pushes for higher rates, and oil as growth starts to build and demand goes higher.

I wouldn't go long again in the gold market until inflation starts going over the top.

That's just my take on things, but outside forces change things all the time. If another war breaks out, or if China collapses, these outside forces will move gold up, so you have to be on your toes and pay attention to world news of course.

Good luck to everyone, these are just my thoughts. I wouldn't mind hearing over peoples thoughts on this.

Thanks

Here are the bond and gold charts and you can see where the money is moving to. Just wanted some thoughts.

http://www.stockmaster.in/bond-market/5-year-treasury-note-chart.html

http://www.stockmaster.in/bond-market/10-year-treasury-note-chart.html

http://www.stockmaster.in/gold.html