Direxion Daily Gold Miners Bull 2X (NUGT)

[Nightridertwou]

You are exactly right all ETF's have the decay factor. Eventhough NUGT is sitting at the double bottom the last time it was here gold was in the 1190 range as now it is 1310. At that time gold ran off the tailwind of the dollar. Usually when the dollar goes up gold goes down and vice versa. Not this time as when the dollar broke below 80 gold went with it. Back in June when NUGT hit the 45.50 bottom I loaded the truck up. I got lucky when NUGT hit 106 on Aug 27. I'm not saying it won't happen again but it is possible that it could run back up. The bottm line is gold has to be back in the 1400+ range. If that doesn't happen all bets are off. When this debt situation gets cleared up my guess is it will run back in the 70 range. Then again who really knows just make sure you have your stops in place and hope for it to go up.