Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

What makes you think I don't understand this..

Easy. The simple fact you state you will hold a leveraged ETF long-term (which I've already previously proven is simply not true) which goes directly against what the prospectus tells you it is for. It says in the first paragraph it is a TRADING vehicle meant for certain 'potential' returns on a DAILY basis.

Plus:

I find a sector which I think has bottomed and buy micro/small/med caps(or whatever I think will produce the most gains $NUGT).

Even in your response you compare NUGT to a standard micro/small/med cap stock. They just aren't the same. A leveraged ETF isn't even in the same realm as the others you mention. If you were talking about any of the others mentioned, I'd agree wholeheartedly.

If I had a dollar for every time someone has posted that 2016 chart of NUGT as a reason for their "long hold" since then...I'd have at least $100-$200. Look at what transpired BEFORE that run happened. It was a 5+ year slaughterhouse (with MULTIPLE REVERSE SPLITS!) that led to the perfect storm bounce. Making claims that you have timed it is a fools errand.

Besides, if you truly look at weekly/monthly as your basis...then you're not looking closely enough. The current weekly candle is a nasty reversal candle off the 200 MA (which historically, NUGT has not traded above for a long period of time...literally, ever!)...