Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST)

[Sendme]

Good morning StockItOut, there is a lot of chatter on gold going gangbusters soon all over the place. There is a potential cup and handle pattern forming right now. I normally like to see the handle hit the .50 retrace which it did, now it just needs to break out of the handle or does it want to go to the .618 first?

The daily RSI is still below 50 which I think has a lot of traders who use that as an indicator also sitting on the fence. Gold usually likes to make those big moves down and shake all of the loose apples from the tree. LOL



I am on the fence with JDST and JNUG right now. Really difficult to say for certain which way it is going. Kind of looks like it wants to break down and possibly retest the 30.25 to 30.50 area again. But that is where I get into trouble, don't think what the price is going to do, trade the chart.

Since that last run up in December, gold pulled back about 50% and JNUG pulled back 100% of its price.


I just don't see a bullish sign on GDXJ just yet. I quit trying to catch the bottom and try to buy on a sign of a reversal, still plenty of time to make money if gold is going to go on a bear run. Right now the choppy up and down stuff is not good on the nerves to try and trade LOL