Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

Holy $%@&!!!

I wasn't around today to see action...that, is bloodshed. OMG!

JNUG hit 3.50! NUGT hit 6.00!

That's the bitch about these 3x ETF's. They are percentage based...so now, even the same huge percentage gain Monday from today only nets you $3 and change versus the over $6 down today. Brutal. This is all so brutal.

I'm gonna go out on a not-so-long limb and say we won't be seeing "NUGT $80" (or even $45) any time soon.

PS- I think we're all seeing what happens when algobots lose control. That's literally the only explanation for the insanity this week. Except most all folks anticipated Gold/NUGT to "soar" when the market came unglued. Yikes!