Direxion Daily Gold Miners Bull 2X (NUGT)

[tokyopua]

"6.74 lol" That would be a 50% bounce from here in NUGT, you do realize that right? Its not the NUMBER, its the % gain. That would also cut DUST down to $80.

Anyway, got some NUGT myself today, and some calls as well. ABX is actually trading BELOW where it was in 2004 when gold was around $450. Sure, physical gold can go down some more, but when you have ABX trading at a PE of 4.5, and a yield of 5% or so, value investors will jump in at some point.

The headline on Yahoo today was that the market went up because the bad GDP number ease the fear that the fed will tighten. That didnt seem to translate to gold today, but I am glad, gave me a good entry in NUGT. At some point, you cant have it both ways (i.e. fed wont tighten so market can go back up and gold goes down too).

Anyway, DUST 200 is not impossible, I guess that would smack NUGT another 25%, I have powder dry to average down a bit if so, lets see what happens.