Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

You're right on that...NOBODY could have seen 19 straight days of methodical, calculated declines. NOBODY! (in spite of what you read on other boards, FinTwit, etc). I'm down 20.4% in my position...it's just a little more 'psychological' when you hold 15,200 shares! LOL

Today had little to nothing to do with the USD in my opinion. Gold was relatively unchanged on the day from yesterday in spite of the huge move in USD. Today was all about MINERS and the short stronghold on them, period. I'm not picking bottoms and fully anticipating another ass-beating tomorrow...but it's hard to sell when techs are so ripe for a bounce...especially when it has potential to recover all of that in a day, as you stated. Granted, it's been forever since we've seen a 20% move, but we know they can happen.

Back to the USD. See this post where I pointed out it was going to bounce off the lower line (which it did). Almost fully stretched back up for a touch (final?) of the upper channel...perhaps before rolling all the way over?? The negative divergence on this chart (in post linked below) is unreal. All JMO. GL!

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