Direxion Daily Gold Miners Bull 2X (NUGT)

[Nightridertwou]

Well I tell you. $22 would be the low end of the target with $25 most likely where it will go on this drop. I hold this ETF for 3-4 months playing for the long term bounce back to the $40's. I have been waiting a while to even get the 27's with an initial target of 28.90. As you know gold has a mind of it's own and can turn on a dime in either direction. Last time I played this I was in around 7.20 (pre spilt of course) and it in fact fell to the 5.51 figure. True I wasn't real darn happy but I stuck with my conviction and it worked it's way back to the 13.70 high. It just so happened to be a good call and was lucky. The way I figure you have to get on somewhere and if I can get on the train lower than what I originally was willing to get on for then it a deal. The difference is I don't go all in at one time I stage it in so if you get say some 27's and maybe some 25's and maybe the low side of the target I am then averaged in on the low side. You know and I know nobody can ever pick a bottom nor top but if you want to have a chance to make any money then you have to step aboard and take the gamble.